We all hope to enjoy a comfortable standard of living when we retire, however the reality is that many Australians simply don’t have enough retirement savings to guarantee the retirement lifestyle they desire. We’re also living longer than ever before, with the average Australian expected to spend some 30 years in retirement, so there’s a very real possibility that any retirements savings you do have could run out before you do.
There are also government incentives and taxation implications to consider. With Australia’s ageing population placing greater strain on health and welfare resources, the Federal Government is encouraging Australians to save for their own retirement through various superannuation incentives. There are also taxation issues to consider when you approach retirement age and aim to access your superannuation savings.
Retirement planning is a complex area with many issues to consider. Naturally you want to ensure you have enough money to afford the retirement lifestyle you desire.
This is where a financial adviser can help. At Benchmark Financial Planning we understand retirement planning and the complexities of taxation, pensions and ‘transition to retirement’ (TTR) strategies.
We can assess your financial situation and help you map out a clear and structured path forward to improve your retirement lifestyle in the future.
To find out more about our retirement planning services please feel welcome to contact us.