Retirement and super

Retirement is a time to enjoy, not worry about your finances. Let Building Blocks Financial Planning help you prepare for life after work.

Building your retirement income & superannuation.

Retirement is a time to meet with friends, try new hobbies and relax. But if you haven't planned for your retirement income, this time can quickly turn into financial worry. It's important to start planning now so when you get there, you can enjoy it.

That's why we offer tailored retirement income planning to make sure you can retire when and how you choose to. Our team will put together a simple but effective retirement plan to include your superannuation, investments and insurances.

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How much will I need in retirement?

A sensible starting point is thinking about the lifestyle you'd like to lead in retirement, to get an idea of the sort of annual income you'll need. This number is different for everyone! But there's one thing that is universal: it's important to start planning for retirement sooner rather than later.

Building Blocks Financial Planning offers a complimentary retirement income review to assess where you are now and what can be done in the remaining time to put you in the best position possible.

Your retirement income options.

The age pension:

The age pension is an option for retirement, but with the average for a single person sitting at $24,000 per year, it’s certainly not enough to live a comfortable lifestyle and is also becoming harder to access.

Superannuation:

Your super is designed solely to provide an income in retirement and is taxed at a lower rate than your income. We’ll talk you through some strategic ways to build super and make a substantial difference to your final nest egg.

Investments:

Your investment portfolio is a great option to provide you with a solid retirement income. We’ll plan your next investment steps & consider more conservative strategies the closer you get to retirement, so you have a steady and reliable income.

Your retirement income options.

Without a regular wage or salary coming in, your income in retirement might come from several different sources.

  • The age pension:
    The age pension is an option for retirement, but it's usually not enough to live a comfortable lifestyle and is also becoming increasingly harder to access. The average age pension for a single person is sitting at approximately $24,000 per year - certainly not enough to spend on eating out and travelling.
  • Superannuation: Your superannuation, on the other hand, is designed solely to provide an income in retirement. Your super contributions are taxed at a much lower rate so you can get more from your money.
    We'll talk you through some strategic ways to build super and make a substantial difference to your final nest egg.
  • Investments: Investments you have made throughout your working life can also work together with your super and asset income to give you a solid retirement income. The downside is that independently held assets - like shares, a rental property or cash savings, don't usually offer the same generous tax breaks as super.
    We'll plan your next steps for investing your money and ensure we consider more conservative strategies the closer you get to retirement, so you have a steady and reliable income.

Let’s build your financial future – together.

Book your free appointment with us to see if Building Blocks Financial Planning is the right team to support you and your financial goals.

Edpat Financial Services Pty Ltd ABN 47 162 281 478 trading as Building Blocks Financial Planning Corporate Authorised Representative No. 438088 Alliance Wealth Pty Ltd ABN 93 161 647 007 | AFSL 449221 www.centrepointalliance.com.au/fsg/aw

Disclaimer:
This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.