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Retirement with JHFP

Retiring from the workforce is a massive milestone in ones’ life.

It can be exciting as it is daunting.

There are so many new matters to consider and people and organisations to deal with.

Important financial planning considerations include:

  • Do you cash your superannuation and invest it elsewhere?

  • Do you move your superannuation from the accumulation to the pension phase and commence an Account Based Pension?

  • Or do you consider investing all or some of your accumulated monies into an Annuity?

  • What is an Account Based Pension and an Annuity – How do they work, what are their differences?

Details including whether you wish to receive as much as possible in Aged Pension payments or just the minimum so you can access ancillary benefits such as the Pharmaceutical Allowance will assist in answering the above questions.

Enjoy your retirement!

Many people would prefer not to have to deal with Centrelink and if you fit into this category, you may be robbing yourself of additional retirement incomes and ancillary benefits.

Other important financial planning considerations when preparing for retirement are:

  • How much income do you require in retirement;

  • Is this income sustainable – if not – how long will your capital last and therefore what are your other options?

  • Do you plan on purchasing a new car during your retirement, or Caravan, or do you plan on seeing the pyramids of Egypt which has been a lifelong plan;

  • Is your youngest child still to get married and they know that you financially supported the oldest child?

Then of course there is the consideration of what asset classes you invest your money in!

  • Do you now invest all of your money in stable assets such as cash and Term Deposits as you can’t afford to risk your capital or;

  • Do you need to continue to receive capital growth to fund your retirement.

Preparing for retirement can be daunting, but it can also be a whole new exciting way of life.

Enjoy your retirement!

Many of my retiree clients say that they don’t know how they used to find time to work.

The earlier you start preparing for retirement by putting in place basic strategies such as attending to your mortgage debt and contributing to your superannuation, the more equipped you will be for retirement.

But you can also enjoy a suitable retirement if you have never paid attention to your superannuation during your working life.

Jason has helped many people ease into retirement by taking note of all of the above important factors and helping you navigate how to structure your retirement incomes.

To discuss preparing for retirement further, please call Jason on 08 8186 3589.

Any advice provided in this publication should be considered General Advice as it does not take into account your personal needs and objectives or your financial circumstances.

You should therefore consider these matters yourself before deciding whether the advice is appropriate for you and whether you should act upon it.