Newly Retired?

Retirement income solutions to suit your needs

Congratulations on your retirement!

 

Here's to many exciting adventures ahead! 

 

Before you jump right into it, we first have to take care of this thing called money.

 

After all, the last thing you want to worry about in retirement is money.

 

The good news is that you have come to the right place.

 

Our number one objective is to ensure you never have to worry about money while you enjoy a well-deserved retirement.

 

Research shows that most retirees fear running out of money, which is why it is common for retirees to live much more frugally than they need to in retirement.

 

This is a real shame because being overly frugal means missing out on all that retirement has to offer.

 

Of course this doesn't mean that you should go out and recklessly spend your money.

 

The key to a long and happy retirement free of money worries is to have a balanced approach and to enter retirement with your eyes wide open.

 

By this we mean you should have a plan that helps you invest and spend in such a way that you never outlive your money.

 

Our job is to take care of all the technical bits and ensure that you get the best from our complex yet generous retirement system.

 

It all starts by us getting a thorough understanding of your needs in retirement.

 

This may take one, two or even three discovery meetings but its crucial to get this part right and is one of the reasons we are big fans of video-conferencing: it makes it easy to schedule multiple meetings.

 

The key to retirement income planning is to understand your current and future expenditure requirements.

 

Expenditure is usually higher in the early years of retirement, then reduces over time and then picks up again in your later years. 

 

While there is no way of knowing how long we're going to live, we do have access to life expectancy tables and the like which help with the planning process.

 

When deciding on which products to recommend, we take into account the level of investment risk you wish to accept as well as your level of expenditure and whether or not you are likely to be eligible for the Centrelink age pension. 

 

Our license allows us to consider a range of retirement income products including account-based pensions, annuities and "cap and floor" strategies.

 

Often, the income solution we recommend is a combination of some or all of the above.

 

The overriding objective is to ensure you are able to provide for a long and enjoyable retirement without having to worry about running out of money.

 

While not compulsory, we strongly recommend entering into an Ongoing Service Agreement, especially in the early years, to ensure your expenditure remains on target and so that we can provide you with the ongoing support and guidance you require. 

 

 

 

Solutions that ensure you don't outlive your money

Bespoke retirement solutions

Everyone is different so its important to customise the Retirement Income Plan to your requirements.

 

For example, where there is a sizeable age gap between members of a couple there may be scope to shelter some assets in the younger person's accumulation account  in order to maximise the age pension.

 

This results in less need to draw on your retirement savings thus ensuring your capital lasts longer.

 

Another way we can increase the amount of age pension you receive is by investing some of your super in an annuity as 60% of the purchase price is exempt under the age pension income and assets test.

 

Annuities do have certain limitations which need to be weighed up against the benefits.

 

Account based pensions continue to be popular as they allow you to invest your superannuation in a tax-free environment while having easy access to your money which is particularly useful when you have unforseen expenses.

 

When it comes to account based pensions our preferred option is to invest in low cost index funds and/or Exchange Traded Funds (ETF's) because our financial modelling shows that keeping ongoing costs low helps with prolonging retirement capital.

 

Another way we prolong your retirement capital is to employ a "bucket strategy"  when it comes to how your account based pension is invested.

 

Essentially, we allow for at least 2 years' income to be invested in defensive assets like cash and bonds and the remainder in a mix of defensive and growth assets like shares and property.

 

This allows you to avoid drawing on your growth assets during a market downturn thus prolonging your retirement capital.

 

With all our personalised advice we compare your existing super fund with two other highly rated funds before making a final recommendation that is in your best interest.

 

In summary, the strategy and product(s) we recommend will depend on your unique situation.

Financial Modelling

Our financial planning software allows us to run various scenarios so that we can visualise the effect on your retirement capital over time. 

 

For example, when deciding on whether to recommend a lifetime annuity, financial modelling helps us to visualise how much more age pension you will receive depending on  how much of your super is invested in the annuity.

 

Modelling also allows us to visualise how your retirement capital depletes over time depending on how aggressively or conservatively your money is invested and how much income your draw to meet your expenditure. 

 

We also use modelling at our annual reviews to track your actual expenditure against the planned expenditure.

 

Modelling helps us determine whether you need to make any adjustments to your expenditure and/or to your portfolio.

 

Modern financial modelling software combined with financial adviser skill and experience is what underpins our retirement income advice.

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