For most Australians, the approach of retirement is something to look forward to. Yet it can also be a time that fills us with trepidation, after all, we’ve saved for it, worked towards it, but are we really prepared for it?
While Superannuation is a way of saving for life after work, it’s not the only factor you need to consider when planning your retirement.
How much do you know about retirement planning?
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Retirement planning is one of the most daunting issues facing each of us. Get it right and you can enjoy the next phase of your life living your dream.
But getting it wrong may be costly and leave you unable to afford the lifestyle you’ve worked so hard for.
Contrary to common belief, you’re never too young to begin retirement planning. In fact, the earlier you set up your strategy the more options will be available to you. However it’s important to remember that superannuation is not a set-and-forget investment. Make sure you regularly review your strategy with your planner, ensuring you stay on track.
Similarly, you’re never too old to adjust, amend and tweak your retirement plan. Particularly as retirement approaches, small changes, top-ups and retirement-specific strategies can significantly impact your savings. Review regularly! If you need more information about a topic covered in our quiz, or perhaps you have some questions about your retirement plan, contact your financial planner.