Retirement Planning

Retirement Planning is the analysis of your future retirement needs compared to the current performance of your  superannuation balances and other investments. Whilst a financial planner will look at just your super and shares, Wealth Works goes a few steps more to look at your total investment options and calculates your net worth using these values.

The combined value of Super, Shares and Property will then be calculated to the age at which you wish to retire and a true asset position at that age is then determined. This is much better than just relying on “How Long Your Super Will Last” but it is also part of the equation we use in Retirement Planning.

There are many different methods of maximising your super and we can look at what you need and ensure your strategy or our new strategy will be the correct vehicle to get you there.

It should be mentioned that not often do we find someones financial needs in retirement are going to be met by their current superannuation investment and contribution strategies. 

For this reason it is important to have a professional financial planner look at your super as early as possible to ensure you are on track to meet you requirements. This might involve increasing the amount of your contributions into your superannuation account or diversifying your current investment strategy.

Buying property is another option open to you but it’s not as easy as you may think. Most lenders these days require a 30% deposit which means you are going to need at least $120,000 in your super to get a decent property.

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