In Australia the superannuation system has been designed to encourage people to save so they can self-fund their retirements. There are generous tax concessions on offer. It is compulsory for an employer to contribute a percentage of the employee’s salary into their superannuation account superannuation under the compulsory superannuation guarantee scheme. Superannuation pension as "tax-free" money as under current legislation there is no tax to pay for someone over 60 on drawings from the fund nor on any earnings within the pension account. Superannuation is therefore a common retirement planning structure though the bigger picture should also be considered such as what happens to your super when you go and whether you wish for your superannuation to form part of your estate.
We find that when our clients enter the retirement stage of their lives the portfolio construction becomes more focussed on income generation with capital preservation being very important. We acknowledge that with advancements in medical science and knowledge of healthy living that people are living longer than ever before and therefore the need for growth to stay ahead of inflation must also be considered. There is a very real risk of people outliving their money and a common strategy to release further capital to fund retirement is downsizing a family home to something that is more manageable as people get older. At Rolanda Adams Financial Services we have experience in constructing portfolios tailored to your goals.
Our goal is to realise our clients’ dreams of things to carry out that they never had time to do before. The boomers as a generation want to “PLAY”. By this I mean they envisage this stage of their lives to be one where they can consider the alternatives. They may work part time or full time. They may volunteer or become involved with a charitable organisation that has a special meaning to them. Many of the retirees I have seen, health permitting, wish to travel overseas in the initial years and for some the nomadic lifestyle of travelling around this great land holds immense appeal.
The term retirement planning is therefore not about coming up with a plan that assists you to count the hours rather one that helps you to do the things you always wanted though never could find the time.
At Rolanda Adams Financial Services we can help you achieve your goals through planning. We work with retirees to manage their wealth and to make the most of their investments. We assist with asset allocation. We review our retirees’ financial affairs and we are available to discuss options for now and as circumstances change with ageing, the possibility of transition from their family home to retirement accommodation.
Any advice contained in this website is of a general nature only and does not take into account your circumstances or needs. You must decide if this information is suitable to your personal situation or seek advice.