Deciding When to Retire: Your Expert Financial Advice
Is it time for me to retire?
For many of us, the time spent relaxing with friends and family during the holiday season is a timely reminder that there are more important aspects to life than work. This inevitably leads to some of us to ask the ultimate question. Is it time for me to retire – per your personal definition of retirement?
Whilst the prospect of retirement is indeed an exciting one, it does bring to light a few important considerations for which personalised retirement financial advice could be advantageous.
Defining Your Retirement Goals
The average Australian retirement age is 67, but this need not factor into your decision to retire if your current lifestyle & financial position enable you to do so sooner.
Indeed, figuring out when to retire will depend on a range of factors, including your savings, investments, superannuation balance and more.
Establishing retirement goals:
The next step is to determine your retirement goals and the income you will need to support your future lifestyle.
It is important to consider how much capital you will need for your basic living expenses and personal pursuits, the lifestyle you want to maintain and a crisis fund for life’s unforeseen events.
Crafting Your Retirement Plan with Experts
An independent financial advisor can help with a review of your current financial position and further with decisions and a plan to transition away from work life. Our team, led by Vince Lam can assist you throughout the whole retirement planning process.
Plutus Financial Guidance are ready and able to answer all retirement planning related questions.
Get in touch with our expert team today to start planning and finally free up your time, so you can start enjoying the most important aspects of life in retirement.