Retirement Planning Advisors in Brisbane North & Strathpine

Retirement means different things to different people. For some, traveling around in Australia in a caravan is a life-long dream but for others flying at the pointy end of the plane and staying in 5-star hotels around the world is more how they see life after work. Or maybe spending more time with the grandkids or volunteering in your local community rate high on your list of retirement goals.

Lifelong can provide you with financial retirement planning advice by understanding your retirement needs followed by a personalised retirement planning strategy by a financial planning professional. We all have different ideas of what the second half of our lives looks like and that’s why planning for your retirement is so important.

WHY IS RETIREMENT PLANNING IMPORTANT?

We are living longer and for most of us compulsory superannuation payments or the Age Pension alone won’t be enough to help us achieve the retirement lifestyle we’re dreaming about.

Putting a long-term financial plan in place will provide you with the comfort of knowing that you can do all those things that you dreamed of and that your financial future is under control.

HOW WE CAN HELP

LifeLong Wealth in North Brisbane, based in Strathpine and Bald Hills, where our team of experienced financial planners can help you with advice for retirement planning, by work out how much money you have now, how much you might have in the future and where it is coming from.

We will help you:

Identify your retirement goals
Review your income and cashflow requirements
Identify what assets (house, savings, investments) you have and how much they are worth
Assess how much super you have and when you can access it
Find ways to grow your retirement income
Put plans in place to make your money last in retirement
Determine when you can apply for the age pension and whether you are likely to be eligible.
Review your estate planning

HOW MUCH MONEY DO I NEED TO RETIRE COMFORTABLY?

This is the magic question and how much money you need in your retirement nest egg will depend entirely on how you want to live in retirement.

According to the Association of Superannuation Funds of Australia’s Retirement Standard 2015, to have a ‘comfortable’ retirement, single people will need $545,000 in retirement savings, and couples will need $640,000.

The Standard is updated four times a year to take into consideration the rising price of items like food and utility bills, as well as changing lifestyle expectations and spending habits.

The Standard includes the cost of things such as health, communication, clothing, travel and household goods.

To see the latest Standard click here

Please contact one of our qualified Financial Advisors in Brisbane North at LifeLong Wealth on +61731885140 to discuss your retirement planning strategy and personal needs.

Retirement Planning FAQ's

An investment strategy is useful as it usually relates to your investor risk profile. Depending on how much risk you would like to take, your investment strategy will usually reflect this and therefore you will be receiving your expected returns. An investment strategy will be related to your goals and so it can be tailored specifically to you and what risk you will take, what capital is needed and help advisers make the best recommendations for you.

We insure our house, our car and our health (even our pets!), yet life insurance is sometimes pushed to the back of our minds. We believe this is important to protect those close to you if something were to happen to you. Questions you can ask yourself is “what would my family do if I suddenly passed?”, “would they be able to live the same lifestyle as they are now if I was no longer there?”, and “who is reliant on me financially?”.

This question is like answering how long is a piece of string. If you are young, fit and healthy your life insurance premiums tends to be much cheaper than if you are middle/older aged with a few diagnosed conditions. However premiums can always change depending on your level of cover and exclusions, so it is best to come and speak to us as we can help you find a happy middle – enough cover for reasonable prices.

This question is the focus of our meetings and it all depends on you! Things to consider in answering this question would be how much do you need to live on, how much do you want to put away for big trips/holidays, are you single/partnered, are you expecting any large sums of money soon, and when are you planning to retire? We can assist you with this and show you different scenarios using our projections software.

The best answer to this is to come and see us!

We will help you establish goals and create recommendations based off your unique situation. We can show you projections depending on different scenarios and showing you what a difference some decisions can make (such as retiring at 60, 65 or 68!). We will discuss with you strategies you might not be aware of to take advantage of and how your tax will impact different decisions.

We have seen time and time again the disappointment on client’s faces when we project that they won’t be able to have the retirement they thought they would or that they might have to work longer because they had no plan in place from the start. It definitely is never too late to start, but the earlier you get a retirement plan in place, the more you can work towards it and reap the rewards in the years to come.