We offer full service retirement planning in our Perth office. In a recent blog post, Certified Financial Planner James McFall of the Financial Planning Association of Australia (FPA) outlined ten steps he feels are essential to a comfortable retirement. As a public service, we would like to provide the information that we think is relevant to you. Remember, though, that we can only provide financial advice via a personal, one on one consult.
Retirement Planning Essentials
The FPA advocates identifying what it is that you value the most in life. After you have done this, they recommend prioritising what is important to you and then creating a list of firm goals which can be turned into a financial plan. *
According to Mr McFall, your superannuation fund is probably going to be your biggest retirement asset. He likens it to a “tax haven, but…legal.” *
The next step is to determine how much you can save and use that amount to make your plans. Mr McFall reminds that savings and home equity are available for investment and that you may consider investing either or both. He also feels that it is important to take full advantage of tax laws to lower your liability. *