What is Retirement Planning?


Retirement planning is the process of determining retirement income goals and the actions necessary to achieve those goals. It includes identifying sources of income, estimating expenses, implementing a savings program and managing assets and risk. To have a comfortable, secure and fun retirement, you need to build the financial cushion that will fund it all, so the fun part is why it makes sense to pay attention to the serious and perhaps boring part: Planning how you will get there. 

Why is Retirement Planning important?


It is important because it is the determining factor of your satisfaction with your retirement lifestyle. Your plan can help you calculate the rate of return you need on your investments and it can determine how much risk you should take. 

A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities, as a result ensuring a good standard of living. 

Do you want to volunteer at a local hospital so you can give back? Take up a hobby you were always interested in, but never had the time to start? Go back to school and pick up a few special interest courses? Start your own business? Travel around the world so you feel fulfilled? Buy property in a warmer climate and spend winter months there?


How Generation Private Wealth can help?


Generation Private Wealth will help you with your retirement planning strategies and as a result give you peace of mind. 


All too often people entering retirement do not place enough emphasis on personal planning to ensure they maximise their opportunities. So take the time now — at an early stage in your planning process to think about the choices you have about how you would like to spend your time during retirement. 


Will you have adequate funds to provide the kind of retirement lifestyle you envision? Remember your income will likely come from three general sources:

Government pensions, employment -related sources and our own personal investments. 


Your retirement will be more enjoyable if your income is structured to fit your lifestyle choices and if you have developed a retirement plan to protect the assets you have worked hard to acquire. 

We can help you take the steps to retirement income planning by;

1. Identify & compare your income and expenses to determine any shortfalls or surpluses

2. Review & analyze the various retirement income strategies

3. Review & compare the retirement income options available

4. Develop an action plan

5. Making extra contributions to build your super while you’re still working

6. Take advantage of transition to retirement