It’s never too early to start thinking about your retirement. With more time to prepare, the broader your choices become. Prioritising wealth creation through investments, reducing debt, and achieving financial and lifestyle goals should all go on your preretirement bucket list. Properly optimising the lead-up to your retirement will set you up for the rest of your life in the way you always dreamed. Perhaps sooner than you think.
Retiring is an incredible step into a new phase of your life, but you need to plan for it. The earlier, the better. Here at Carwardines, we want to help define what we like to call your “Retirementality”. This mindset helps focus your retirement into three categories: Location, Vacation and Vocation. Defining these three categories will help us assist you in your retirement solutions.
Where do you want to spend your retirement? This section isn’t the holiday portion; it’s where you hang your hat at the end of the day. Is it closer to family, a sea or tree change? The world is massive, with so many choices it would need three lifetimes to explore. Deciding your final location could help steer everything else in your retirement plan.
Where do you want to go in your retirement? Have you ever been to the Sistine Chapel or a Broadway musical? Or do you want to hit the open road for extended trips away? Retirement is where you accomplish these dreams. It’s the perfect time to explore the world and see how other countries enjoy life. Planning these trips allows you to be efficient with your time and resources, meaning you can see more of the world without needing a second mortgage.
What do you want to do in retirement? People have chosen to volunteer in their local community or keep a small part-time job. They have also joined local clubs to enjoy games like bridge or mahjong to meet new people. However you wish to spend your golden years, understanding how you will be spending most of your time will assist in planning the other parts of your retirement.
By coming to us with a desire to plan your retirement, we will help build your ideal retirement. We help you prioritise your, lifestyle and financial goals, and help optimise your superannuation, investments, Centrelink entitlements and everything in between so you know that your retirement will be everything you want. Our Financial Planner, Nathan Watson, has been helping people plan their retirements for almost 20 years, and he’s happy to help you with yours. Call us and book a consultation to make it happen!
People often think the retirement age is 67, however this is not the case. You can retire as soon as you can afford it and wish to do so. We help you determine when this may be based on your financial and lifestyle goals.
As early as possible. The longer you have to prepare before you retire means you will have more available to you.
At the time of writing, a couple who own their house will need around $75,000 per year to live comfortably, according to The Association of Super Funds Australia (ASFA). This number will change over time, however. How much you need will also depend on what age you retire and the kind of lifestyle you want.
Yes. Just as life is fluid, so is retirement. Your early retirement years may be filled with travel and lots of outgoings as you tick off your bucket list. Then as we age your needs may become less or change focus for example to health and aged care.
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