Dreaming of your retirement? The world trip, the new car, the Australian tour.......
Can you afford to retire? Do you want to retire early? If you retired tomorrow would the pension be enough?
To enjoy your retirement and do all the things you have planned, you need to sort out your finances. Take a realistic look at how well you're preparing for retirement and develop an action plan. Early planning means retirement doesn't sneak up on you!
Retirement Graphs 
George is 42 and has a current salary of $45,000. He plans on retiring at age 60. At age 50, George will get a pay rise to $62,000 per annum. He currently has $90,000 in his Superannuation. As well as his 9% Super Guarantee contributions, George is also sacrificing 3% of his salary into his Superannuation. Upon retirement, George wishes to: - Travel overseas at age 60 - $25,000
- Travel around Australia at age 68 - $15,000
- Buy a new caravan at age 70 - $40,000
- Give money to his grandson at age 80 - $20,000.
Based on the above assumptions, George's Superannuation will last him 11 years from retirement. 
Myrtle is 48 and has a current salary of $35,000. She also plans on retiring at age 60. She currently has $30,000 in her Superannuation, and is only receiving her 9% Super Guarantee, as she is not making any extra contributions. Upon retirement Myrtle wishes to: - Travel overseas at age 60 - $20,000
- Give her children money at age 70 - $10,000.
At age 68, Myrtle will receive an inheritance of $100,000 from her great-uncle. WHAT DOES YOUR GRAPH LOOK LIKE? Please Note: the above scenarios are for illustration purposes only and are not fully inclusive of all circumstances. Please contact us for a full review of your Retirement needs. Back to top^
Goals and Objectives Our retirement review process will explore your goals and objectives and we will discuss the best ways to achieve them. Our experience indicates to us that retirees may require more funds in the earlier years of retirement than the latter years, and therefore it is extremely important to ensure adequate income needs are addressed. Goals and Objectives may include: - A new car
- Holiday
- Travelling Australia
- Assisting family members
- Debt reduction
- New motor home
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Things to Consider When planning your retirement, there are many things you need to consider. These may include: - Lump sum needs
- Regular income needs
- Estate planning
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Allocated Pensions An allocated pension is an investment that lets you rollover your super money into an account held in your name in a super fund. The returns you make on your investments are added to your account, which pays you regular income payments. They are a flexible and tax-effective way to provide income in your retirement. They are flexible because you can usually: - vary your pension payments (within government minimums and maximums)
- choose monthly, quarterly, six-monthly or annual payments
- withdraw lump sums (although this reduces the balance in your account)
- specify how much and to whom benefits are to be paid upon your death
- choose from a range of investment options.
They are tax-effective because: - investment earnings added to your allocated pension account are tax-free
- pension payments are taxable, but may have a tax-free component
- lump sum withdrawals are subject to tax at lump sum tax rates
- you may be entitled to a tax rebate.
Allocated pensions do have some disadvantages you should be mindful of: - there are restrictions on the amount of pension you can take each year
- there is no guarantee your pension payments will continue throughout your lifetime
- the investment option you choose may not perform to your expectations
- the government may change the rules about allocated pensions
- you can't split your pension between husband and wife to reduce tax
- an allocated pension is not exempt from the assets test for social security purposes.
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