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Retirement Planning Guide for Pre-Retirees: Essential Tasks

Tips for pre-retirees from a financial advisor

Pre-retirement planning to ensure your secure financial future becomes increasingly vital as you get closer to your retirement age. We understand the complexities of retirement planning for pre-retirees with medium to high incomes and net worth. Let’s explore the essential tasks to consider as you prepare for this new chapter in life:

When Can You Access Your Super and Aged Pension?

Understanding when you can access your superannuation and the aged pension is crucial. The age at which you can access these funds will vary depending on your date of birth.

We’ll help you navigate these timelines to help you understand your retirement timeline and maximize your benefits. Knowing when you can access these funds provides a sense of security and allows for better financial planning.

Setting a Retirement Date

While it doesn’t have to be an exact date, having an idea of when you plan to retire is essential for financial planning. Knowing this allows us to calculate your retirement income needs accurately and devise a tailored strategy. Setting a retirement date gives you a clear goal to work towards and motivates you to make the necessary financial decisions to achieve it.

Estimating Your Retirement Income

It’s crucial to understand what your annual income will be in retirement. We’ll help you factor in government benefits such as the aged pension (even partial), healthcare benefits, and tax offsets to ensure you have a full understanding of your financial situation. Knowing your retirement income provides peace of mind and allows you to plan for your desired lifestyle post-retirement.

Calculating Your Cost of Living: Planning for Life’s Expenses

Estimating your cost of living in retirement is key to financial planning. By understanding how your expenses will change, we can determine how much you’ll need to maintain your desired lifestyle and create a budget accordingly. Knowing your cost of living helps you prioritize your expenses and allocate your resources effectively, reducing financial stress.

This also allows us to tailor investment strategies to your situation to ensure that you aren’t exposing yourself to unnecessary market volatility or risking running out of money.

Securing Your Future: Building Financial Resilience

Building a solid financial foundation involves more than just saving money. We’ll work with you to ensure you have appropriate levels of insurance, a sustainable budget, and an emergency fund to provide peace of mind and financial stability.

These safegaurds protect you from unexpected events and helps you weather any financial storm with confidence.

Securing Your Family’s Future: Protecting What Matters Most

Organizing your estate planning alongside your retirement planning is essential for peace of mind. We’ll help you ensure that your assets are protected and distributed according to your wishes, providing security for your loved ones.

Planning for your family’s future allows you to leave a legacy and provide for future generations, giving you a sense of fulfillment and purpose.

Seeking Professional Advice: Partnering with Experts for Success

With the complexity of retirement planning, seeking the guidance of a financial advisor is invaluable. At Advice Loop, we offer personalized advice tailored to your unique circumstances.

We’ll ensure you’re aware of all available services and schemes, so you can make informed decisions about your retirement and not miss out on any benefits. Partnering with experts gives you confidence that you’re on the right path towards a fulfilling retirement.

In Closing

At Advice Loop, we’re committed to helping pre-retirees like you navigate the complexities of retirement planning with confidence and ease. Book a complimentary chat to start securing your financial future and enjoy a fulfilling retirement ahead.

Secure your financial future today!