Preparing For Retirement

Preparing For Retirement

Monument Advisory Preparing For Retirement

Feel Like You’ll Need To Work Till You’re 100 To Maintain Your Lifestyle?

There’s a load of scary statistics flying around telling you that you won’t have enough money to last your life. We speak to people in your shoes all the time. Typically you’re in your 50’s and starting to think about the sort of things you could do in retirement.

Dream holiday, flexibility to help the kids and grandkids, doing the things you really want to do but never had time to do before?

Sound familiar?

Retiring In The Next 5 Years Or So?

As you get closer to retiring, you look at your finances and wonder if it’s ever going to be possible. On average, we find people like you underestimate what they need to retire by about 50%. They also tend to have more questions than answers about what to do to solve this dilemma.

In all reality you’re probably spending too much and therefore not saving enough, have too much debt, have no idea if you have enough in super, and have little idea how much income you actually need in retirement.

Retiring Happy, Healthy & Wealthy

Whilst these are common problems for many, the most important thing to understand is the problems are certainly solvable provided you start to address aspects of your financial life. What are these? Understanding what to do with your super, how to invest appropriately, and implementing debt repayment strategies. All supported by having a plan in place that gets you to a successful retirement and supports you while you are there, doing what you love.

Are you living for today versus living for tomorrow?

Boiled down to its essence you need to know how much you live on, know how much you need in retirement savings, and know what you need to do each week to get there. Underlying all the practical “stuff” is a desire to live a certain lifestyle. To be happy, to be healthy and to be as wealthy as you need to be to live like you desire. We call it getting the unique balance right between living for todays versus living for tomorrow.

The average super balance, even when combined with the government pension, means you may only have $42k per year to live on. Is that what would make you happy? If not then we’d love to help you change that.

Meet The Jacksons

A contractor and government worker, we met the Jacksons about 10 years before their retirement. The grown kids were leaving home, educating them was done and the Olsens were ready to start looking at their own future.

The realised it was still a few years away and wanted to proactively take action to set themselves. We worked closely with them following our four step “Freedom to do what you want to do, when you want to do it” path to retirement process.

  1. Know where you are – it’s about understanding your current position and the reality of what will happen if you keep doing what you are doing, or the financial future reality check!
  2. Know where you are going – understand how much money you need to fund everything you want to do in your life (how much income/cash flow is needed, and capital is required to deliver it). It comes down to getting clear on your hopes, dreams, goals and aspirations – yours and those you care about, plus taking into account fundamental financial needs
  3. Know what you need to do to get there – there’s always a gap between the first two steps. Here we get into some detailed figures so you can see what’s really needed. We’ll work with you to look at things like super, how much you put into any current mortgage you have, how much should go into savings, how much into investments. All those tricky questions get answered and you feel more confident and excited about the future
  4. Do it as efficiently as possible – it’s about maximising tax savings, maximising return, reducing fees and being supported to make the best financial decisions for you and where you want to go. Our expertise means you don’t have to guess how to create efficiency in your financial management

Monument Advisory FInancial Advice For Retirement Perth

Let us share our combined 20+ years of experience supporting people like you provide the reassurance you’ve been looking for that the kind of retirement you really want is possible.

Ready to retire wealthier? Book an obligation free Discovery Meeting
Call the Monument Advisory Team on 1300 566 688

Monument Advisory Perth Financial Planning Business Retirement Specialists 1

The Monument Advisory Philosophy

We believe no two client situations are the same, so they should not be treated the same. As a team, we fundamentally believe the best financial advice can only be developed, when anchored to a true understanding of the outcomes our valued clients are looking to achieve, for themselves and those closest to them.

In a world of readily available information and well-meaning opinion, financial uncertainty remains at the forefront of the worry many people experience, no matter what time of life they are in. Now, more than ever, people struggle to determine what information is relevant and beneficial to them, and what is irrelevant or even harmful. Successfully applying only what is relevant to your unique circumstances, is what truly matters most.

We talk about the “process” as walking the path. Our commitment to you is to ensure you never feel alone on the path to where you’re headed, giving you less financial surprises, less financial regrets and less financial stress. This means you can take action with confidence you are making decisions that increase the certainty of achieving and experiencing what is most important to you.