Retirement planning can be tricky if you don’t know what you’re doing. Fortunately, we have helped numerous people in the Perth area get started on the path to a prosperous retirement. At Approved Financial Planners, we have a wealth of local experience, combined with the resources of AMP Financial.
While we are not allowed to give any specific advice on this blog due to the disparity in individual financial situations, we would like to provide you with some general information that both we and AMP feel is important when making investment decisions.
Why Retirement Planning is Important
For many in the previous generation, an age pension was enough to provide a comfortable retirement. However, the Australian Government is now encouraging everyone to take control and save for their own retirement.*
As more baby boomers reach retirement age, the number of people drawing pensions will soon be too large for the current workforce to sustainably support them. Consequently, Australians are being encouraged to create their own sources of income to supplement their age pensions and ensure a comfortable lifestyle after retirement.*
Here are some factors to consider when planning your retirement.*
What Do You Absolutely Need?
This is the money needed to eat, keep a home, pay the bills and transport yourself from point A to point B. This should be a steady income stream that won’t be adversely affected by inflation.*
You don’t want to work hard, retire and then have nothing left to enjoy your life. How much money do you need to live the lifestyle you want? This can include recreation, hobbies, travel and entertainment. Do you want a family room with a large TV for entertaining? A new car? A boat? This portion is often addressed by assets that grow over time.
Call Approved Financial Planners
It will take intelligent financial planning to maximise your retirement in the Perth area. Call Approved Financial Planners today for a free consult: 08 6462 0888.*
*AMP Capital: 7 April 2015: “Investing for Retirement: 6 Things to Consider.”