Australians are living longer and healthier lives than ever before, and the average retirement length has increased accordingly. In fact, many people now plan for a 20-30 year retirement. While it's great to see people enjoying more time in retirement it also bring up the issue of adequately funding such a long period of unemployment.
Typically, the earlier you start planning for retirement, the easier it is to meet your financial goals. However, with a mortgage and growing children, it often seems as though there's little left over to put away for your future. This is where we work with our clients to identify opportunities where additional savings can be made, often without having a significant impact on the family budget.
Strategies such as a transition to retirement pension allow you to divert pre-tax income into your superannuation account via salary sacrifice while also drawing an low-tax or tax free pension to supplement your family's income.
Together with you, we can build and implement a plan to get you on track to meet your retirement goals without sacrificing your current lifestyle.