All the years of working have now paid off and you are able to sit back and relax…. Where do you start, there are so many things that need to be taken care of:
* Navigating the complex Centrelink system, applying for the Aged Pension (if eligible) and any other benefits to which you may be entitled
* Are there any avenues available to increase your Centrelink Aged Pension benefit?
* Ensuring you do not breach the Centrelink gifting limits and reduce your entitlements.
* What happens with your Superannuation? Should you leave it as it is or use it to begin an Allocated Pension to provide regular, ongoing income? Should you change how it is invested now that you are no longer working? How much income should you take from it?
* Will your money last as long as you need it to? Are there any steps you can take to help increase the likelihood that it will?
* Should you downsize your family home? What impact will it have on your Centrelink benefits if you do?
One of the most common comments we hear from retirees is that they feel a sense of loss, not only of purpose but also of control over their finances and the options available to them. Proactive planning in the lead up to retirement and beyond can reduce this to a large degree - this is where we are really able to add value to our clients.
Our “vision for your retirement” is explained in plain easy to understand English in this short video.