Retirement Planning

Helping to Simplify and Secure Your Finances in Retirement.

When you retire you have so many decisions to make. And these decisions are not just big dB&L Financial Servicesecisions… they’re literally life altering!

You have to decide where you are going to live, what to do with all your free time and how to spend or invest your money so that it lasts right through your retirement years.

Retirement should be one of the most enjoyable stages of your life – a time to reward yourself after many years of hard work. It should be a time you can look forward to enjoying… not a time of uncertainty and confusion. Whether you are approaching retirement or have already retired, your financial planner can guide you towards the most effective solutions for your particular needs. Proper planning can help you to enjoy retirement with the confidence that you are financially secure.

How can you Generate an Income in Retirement?
Retiring from the workforce does not have to mean an end to receiving an income. Through careful investment into certain financial products such as immediate annuitiesannuities or allocated pensions, your investments can pay you a regular income.

Numerous fund managers provide these kinds of products. Whilst they share many similarities, there are also several variations. Your financial planner can explain and recommend the right choice to suit your individual circumstances, time frames and objectives within the scope of products/platforms available to our planners to recommend.

What is Retirement Planning?

Retirement planning is the process of arranging your finances so that you can achieve your financial and personal goals in retirement.

It begins by defining your needs, objectives and current situation. Once these are established, your financial planner will prepare a broad strategy based on your goals. On your approval, a comprehensive financial plan will be implemented. This plan will take into consideration your current needs as well as plan towards meeting your retirement objectives.

Do You Need Retirement Planning?

When you consider that you could spend around one third of your life as a retiree, you start to realise the importance of having an effective retirement plan.

Your retirement payment is likely to be one of the largest lump sums of money you’ll ever receive. Whilst it may be tempting to use it to pay off the mortgage, go overseas or invest in the share market, you should carefully weigh up your options before deciding what to do. After all, this money has to last you all of your retirement years.

When you work out what to do with this money you also need to consider issues such as the taxation implications and the effect of your decisions on your ability to get the aged pension.

Individual circumstances differ and many of these issues can be complex and confusing. It’s therefore best to seek professional advice to make the most of your retirement payment. This is where retirement planning comes into play.

You should be free to spend your well-earned retirement doing the things you’ve always dreamed about. With the assistance of your financial planner, your retirement could include some of the best years of your life.

What Are the Benefits of Retirement Planning?

By putting in place a suitable retirement plan you increase the likelihood of living a financially secure retirement – maximising the returns on your investments as well as your eligibility for any social security entitlements.

Effective retirement planning also helps you take advantage of taxation benefits specifically established for retirees, such as:

  • tax rebates;
  • higher tax free thresholds; and
  • zero taxation on earnings while funds are held in certain retirement income products.

Need More Information?

Contact B&L Financial Services