RETIREMENT PLANNING
“Often when you you think you’re at the end of something, you’re at the beginning of something else.” – Fred Rogers.
Whether your retirement is 35 years away or tomorrow, it is never too late to plan. Since each person has different goals and assets, no one-size-fits-all approach can work. We analyse what you have and help you design a plan that will put you on track to reach your financial goals for retirement.
HOW MUCH MONEY WILL I NEED AT RETIREMENT?
The amount you will need for retirement depends on several things, but the general rule is that you will annually need 70% of your current income.
Below are some things to consider in deciding how much money you will need:
- Mortgages – are they going to be paid off?
- Lifestyle changes – are you wanting to travel more? move to a different part of the country? downsize?
- Health – will you need extra care and what expenses to consider?
- Grandchildren – do you want to help them with college expenses?
WHEN CAN I RETIRE?
This depends on your set of circumstances and finances. The best way to determine your retirement date, especially if you’re close to retirement, is to let us help you build a personal financial plan. Here are some things we’ll consider:
- Your retirement income expectations.
- Your Centrelink Age Pension eligibility.
- How much you are currently saving for retirement.
- The current balance of your Superannuation savings and other assets.
BOOK A NO-OBLIGATION CONSULTATION
Let us help you figure out where you are and how much you need to get to retirement.
Book an appointment for an obligation free retirement ready health check!
Address
The Green House,
Suite 22 797 Plenty Rd,
South Morang VIC 3752
Phone
Banyan Tree Financial Planning
Choosing a professional financial planner is as important as choosing a doctor or lawyer; it’s a very personal relationship. We encourage you to connect with us to see if we’re a good fit for your needs.
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