Retirement Planning: Are You on Track?
Retirement might feel like a distant goal, but the secret to a successful and fulfilling retirement is to start planning early. The decisions you make today can set the foundation for a financially secure future and allow you to enjoy the lifestyle you’ve always envisioned.
At AGS Financial Group, we understand that everyone’s retirement goals are unique. When we talk to Australians about their ideal retirement, the variety of responses we receive is inspiring. Some are looking forward to spending time with family and experiencing the joy and love that comes with it. Others were eager to embrace new adventures, travel, and the freedom to pursue their passions.
No matter how you define your ideal retirement, it all begins with a solid plan—and we’re here to help you create it.
Are You on Track for a Comfortable Retirement?
The concept of a “comfortable retirement” can vary greatly from person to person. For some, it may mean having the resources to support a quiet life at home, while for others, it could involve extensive travel or engaging in hobbies and activities they love. Whatever your vision, it’s essential to ensure your finances are aligned with your goals.
So, how do you know if you’re on track?
Book a Retirement Health Check to see where you stand. By speaking with one of our retirement specialists, you can gain insights into:
When You Can Access Superannuation: Understanding when you can access your superannuation is critical to your retirement planning. Our specialists will help you navigate the rules around preservation age and accessing super, whether you’re looking at transitioning to retirement or fully retiring.
How Much Superannuation is Enough to Retire Comfortably? Determining how much superannuation you need can be challenging. We’ll help you calculate a target figure based on your lifestyle expectations, current savings, and other financial considerations.
How Long Your Money Needs to Last: Retirement can last 20 years or more, so it’s essential to ensure your funds will support you for the long haul. We’ll help you project how long your super will last, considering factors like life expectancy, inflation, and your desired spending habits.
Start Planning Early for a Better Tomorrow
The earlier you start planning, the better prepared you’ll be for the unexpected. Here are some key strategies to consider:
Maximise Superannuation Contributions: Consider contributing extra to your super through salary sacrificing or making after-tax contributions. This not only boosts your retirement savings but may also offer tax advantages.
Review Your Investment Strategy: A diversified investment strategy can help grow your wealth while managing risk. Regularly review your investment mix to ensure it aligns with your retirement timeline and risk tolerance.
Consider Downsizing or Relocation: As you approach retirement, consider whether your current home and living arrangements fit your retirement lifestyle. Downsizing or relocating could free up capital, reduce living costs, and provide additional retirement funds.
Explore Transition to Retirement Strategies: If you’re nearing retirement age or have had a recent job change, a transition to retirement (TTR) strategy can enable you to ease into retirement by reducing your working hours while accessing some of your super.
Seek Professional Advice: A qualified financial planner can help you build a retirement plan that’s tailored to your goals, risk profile, and financial situation. At AGS Financial Group, we work closely with you to develop a strategy that maximises your retirement outcomes.
Take Control of Your Retirement Today
It’s never too early—or too late—to start planning for a better retirement. Whether you’re just starting your career or approaching retirement age, there are always steps you can take to improve your financial outlook.
Ready to take the next step? Book a consultation with one of our retirement specialists and take the first step towards building a more secure and enjoyable retirement, or contact us to find out more.