Superannuation and retirement

There comes a time for all Australians when they have to hang up their hats and retire. These should be the best years of your life – the time when you get to kick back, relax and cross all of those things off your bucket list that you never got the time to when you were working.

If you want your golden years to go just as you always planned, retirement planning is crucial. This means having the right superannuation and retirement strategy in place long before you stop working, so you can save the funds necessary to cover your living costs, regular expenses and any goals you want to achieve.

For those looking for superannuation services in Airlie Beach, Prosperine, Bowen and other areas of the Whitsundayshire Eclipse Financial Services can provide you with the guidance and planning to help ensure you have a secure retirement. From helping you tailor a saving strategy to assisting you in coming up with a suitable investment portfolio, we can give you a hand in meeting your retirement goals.

What factors go into retirement planning?

In building up a solid retirement fund, you want to make sure you’re well covered for all of your aims. Key questions we can help answer include: What sort of lifestyle you want in retirement?  How much will that lifestyle cost per year?  What is your expected retirement lifespan based on age and health?  Will you get any Centrelink Age Pension support? What sort of lump sum do you need to aim to build up?  And are you on track for your retirement?

Your retirement savings should match the type of lifestyle you want. If you’re hoping to simply live comfortably day to day , you will need a substantially different sum than if you want your golden years to be the time you splash out. Having a plan in place that puts you on track to meeting your desired goal is key.

These should also be care-free years during which you’re focussed more on enjoying yourself than on worrying about money. You want your retirement savings to have you covered no matter what happens, whether it’s unexpected medical expense or a pricey repair.

Along with this, a smart retirement planning strategy will take into account factors such as rising living costs and inflation. Both of these can limit the adequacy of your retirement savings, leaving your carefully worked-out retirement total falling short when it really matters.

We understand that saving for retirement is easier said than done. You can have all the good intentions in the world, but life doesn’t stop while you’re saving. From mortgage repayments and unexpected costs to financially costly milestones like starting a family, it can be difficult to juggle these different expenses and prioritise your retirement. That’s why getting assistance from a professional can sometimes be the smartest way to go.

How can we help you plan for retirement?

Putting a financial plan for your retirement in place is a many-pronged process. First of all, we can help you come up with a personal saving strategy and budget so that you’re putting away enough money regularly for a retirement fund that backs up your superannuation savings.

In addition to this, if you feel like you’re not saving enough for superannuation in the Whitsunday Shire, we can suggest a number of superannuation strategies to help you. From salary sacrificing or extra after tax contributions, to consolidating your superannuation or changing your provider, there are numerous ways you can improve your current superannuation savings.

We will also look at various tax-minimising strategies and examine your investment portfolio. It may be that a different investment strategy or a change in your asset allocation can be pivotal to making sure you’re looked after once you reach retirement age.

Finally, if you have an SMSF in Whitsunday Shire areas like Collinsville and Cannonvale, we can give you a helping hand here, too. Our friendly team is on call, ready to answer any questions you might have about your legal obligations as a trustee, or provide you with insight for how to invest your super. We’ll work closely with your chosen SMSF administrator, who is often also your accountant.

Most importantly, we’ll take the time to get to know you and tailor our retirement planning to your particular circumstances. As a local business, we have a unique understanding of the needs and concerns of other Whitsunday Shire residents, which helps us give our clients the most effective service possible.

With Eclipse Financial Services taking care of your retirement planning, you don’t have to stress about your golden years. You can spend more time basking in the sun, fishing and enjoying the beauty of the Whitsunday Shire, knowing your retirement is in safe hands.

 

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