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. *
According to Mr McFall, one way to create more money for retirement is to properly structure your debt. He also feels that risk mitigation is an important factor. Once one is retired, he suggests that it is still important to properly manage your asset drawdown. *
Call the Retirement Planning Advisers at Approved Financial Planners
Mr McFall’s last “step” is to obtain professional advice along the way. *
At Approved Financial Planners, we offer full service financial planning and retirement planning from our Perth area office. We offer a seven step advice process that starts with calling us to arrange for an obligation-free consult.
Call us on 08 6462 0888 to learn more.
* Financial Planning Association of Australia. The step by step guide, to achieving a comfortable retirement. 24 September 2015.