Retirement Planning

Retirement planning and wealth management strategies for those over 55

Many people have little idea what income their assets will produce when in retirement, or they have an unrealistic idea.

Unfortunately, most approaches to financial planning sound great but may not have the underlying rigour to improve your chance of successful wealth creation. You don't know what your retirement income will be until you get there, when it’s too late to make changes.

However a well managed portfolio using our Efficient Frontier approach can improve the chance of having extra wealth on retirement.

Retirement planning and wealth management

At this stage in the financial planning journey, considerations for your retirement planning and wealth management strategies include:

  • consolidation of superannuation accounts
  • correct asset allocation for your situation
  • superannuation re-contribution strategies
  • use of allocated or market-linked pensions
  • Transition-to-Retirement strategy
  • setting the right level of investment debt or gearing

Retirement planning – consolidating your super accounts

Are you paying too much in fees by having multiple super accounts?  Having small amounts of super in several accounts can mean your overall balance is unnecessarily reduced.  We can help you consolidate your super into one or two accounts, so that your returns are improved and you pay less fees.

Wealth management - asset allocation

Is the balance of financial risk versus reward in your portfolio optimised so that you are targeting better returns?  We continually review investment accounts and recommend optimisation changes to help improve wealth creation.

Re-contribution strategies

If you are eligible, you may be able to withdraw some savings from your super, and then re-contribute them back to your super, in order to minimise tax when your super savings are passed on after your death.  This strategy is often used in estate planning.  We can work with you to determine if you are eligible, and if this strategy will benefit you.

Allocated or market-linked pensions

These are the most commonly used types of superannuation pensions.  You determine the investment mix / financial risk and the amount withdrawn each year (subject to a minimum). These pensions typically have higher longer-term average returns than fixed length pensions such as annuities. The downside of market-linked pensions is that the time the savings last is not fixed but subject to investment performance and the amount withdrawn each year. We can advise you on whether an allocated or market-linked pension or annuity is a good option for you.

Transition-to-Retirement strategy

Transition to Retirement (TTR) is a retirement planning strategy for those over 55 and still in paid work.  With TTR you can access your super, and increase your super contributions, before you retire. TTR usually has substantial tax benefits, and can increase your wealth at retirement. However it does not work for all situations – we will advise you whether it is relevant for you.

Find out more about the risks in a Transition to Retirement strategy »

Borrowing to Invest

Investment returns can be improved by borrowing money to invest. However this approach doesn’t suit everyone’s situation and can carry some unexpected risks. We tailor a financial plan to suit your circumstances and point out the risks involved so that you are making an informed decision.

Contact us today to find out how we can help you plan for your retirement and reach your financial goals. There's no obligation or cost for the first meeting.

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  • Professionals of any age
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