Retirement & Estate Planning

Only about one-third of Australians are actually saving enough to meet their retirement goals. If you are relying purely on an age pension to fund your retirement years, get ready to take a big pay cut. Government pensions are designed to replace a minority proportion of your working income.

Try our Financial Tools to see how your retirement plan is shaping up, or to make an appointment simply contact us via the Contact Us page.

Retirement Planning Gold Coast

You know where your income is coming from today but do you know where it will come from in retirement? The money you live on in retirement will likely come from your super, Social Security, personal savings and or part-time work.

The amount that you need to save between now and retirement depends on what you might receive from your pension and Social Security, and what your investments could earn between now and the time you retire.

Many retirees depend on part-time work as a major source of their retirement income. So, if you do not plan to work during your retirement, you may well need to reassess your superannuation to determine whether you are saving enough to meet your retirement objectives.

Some of the other things to consider are:

  • The earlier you plan to retire, the longer your money will need to last
  • Whether your home and any other large debts will be paid off
  • Whether you will work part-time or on a casual basis in retirement
  • What you want to do in your retirement years and how much this will cost
  • What capital expenses you will have in retirement (eg a new car, house repairs), and how much you will need  for these expected, as well as unexpected, expenses

If you or a family member is considering retirement planning, get in touch with us (07) 5598 3800 or contact us here. We are conveniently located in Palm Beach on the sunny Gold Coast.

Estate Planning

Estate planning is a process designed to help protect the wealth you have built over your lifetime so that it is distributed smoothly according to your wishes. More than just a Will, an estate plan also takes into account your superannuation and powers of attorney as well as assets held solely in your name or jointly with others, or assets held in private companies or trusts.

Who needs estate planning?

If you own anything or have people who rely on you it is a good idea to have an Estate Plan. The more complicated your personal and financial affairs, the more important it is. You should also review your Estate Plan at least once every three years and whenever your circumstances change, such as:

  • getting married, living with a partner, separating or getting divorced
  • when you have children or step-children
  • buying real estate or other valuable assets
  • buying, selling or operating a business
  • if you have superannuation (most people are unaware that your super is not covered by your will)
  • if you have family members with special needs or children who are vulnerable
  • if you set up a family trust or company
  • if you are unable to make decisions, financial or otherwise, on your own behalf

Click Here to work through this checklist to see how you stand. You may need to discuss any ‘no’ or ‘unsure’ answers with an Estate Planning professional.

We help set in place the right estate planning structures and documentation for smooth transition and tax effective transfer of assets.  To make an appointment contact us via our contact form and check out our article Simplicity No Certainty When Making Plans.

Get started today to see how we can help you!

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