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Retirement Planning

As the life expectancy of Australians continues to rise, so does the length of time that many people will spend in retirement.

According to the Association of Superannuation Funds of Australia, to have a comfortable retirement lifestyle, single people will need a superannuation balance of $545,000 and couples will need $640,000. However, the average superannuation balance for women is just $105,000. In fact, 90 percent of women end up with not enough superannuation to fund the lifestyle they want in retirement, while one in three women end up with no superannuation at all.

There are a number of reasons for this, including leaving the workforce to having children and being employed in part-time or low-paid positions. But it’s clear that women in particular need to start planning ahead for retirement, no matter how far away it may be.

At EQ Wealth, we help your savings grow, so you can enjoy a long and comfortable retirement. Whether you’re still decades away from retiring, about to retire or already there, our team can develop a financial strategy that ensures you have enough money to retire in style.

Your financial plan will be completely tailored to your current financial situation and the lifestyle you’d like to enjoy in retirement, whether it’s travelling the world, boosting the bank balance of your children or spending time in the garden. We’ll take the time to understand your needs, then develop a strategy that builds your nest egg in the most tax-effective way possible. This may be through super contributions, acquiring or building a portfolio of shares or investing in property.

Managing debt is an important part of retirement planning, so we aim to consolidate and reduce your debt, so you’re not burdened by financial stress in retirement. We’ll also help you manage your allocated pension, apply for the Government Age Pension or create a transition to retirement strategy.

Once you’re retired, we can also keep an eye on your retirement balance and help you maintain a budget, to make sure you have sufficient funds to live the retirement lifestyle you desire. It’s never too late to take control of your retirement savings and plan for this exciting stage of your life.

 

 

It’s never too late to start planning your retirement. Contact us to find out how small changes now can make a big difference in retirement.

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