The secret to securing a healthy income in retirement is knowing what lifestyle you want. With this in mind, here are some points to help you plan for a comfortable retirement.
- How much do you need to retire?
- Ease into retirement
- Lump sum or income stream?
How much do you need to retire?
Everyone is different, so it's impossible to say exactly how much super you'll need for retirement. Some of the factors to take into account are:
- What age do you plan to retire?
- What sort of lifestyle do you want?
- Have you paid off all your debts?
- Will you need additional money for other needs eg buying a new car or going on a holiday?
At BluePrint Advisors we can help to evaluate exactly how much money you'll need for retirement, and how you're tracking to reach that goal.
Ease into retirement
If you're over 55 and fancy building a bigger retirement nest egg without reducing your current income, a transition to retirement strategy could be right for you.
This involves contributing some of your pre-tax salary into super, while moving some of your existing super into a transition to retirement pension, and drawing a regular income from the pension to replace your reduced salary.
We can assist you to prepare for retirement by helping you to restructure and more effectively organise your assets to optimise their long term after-tax income benefits. If you are looking for a tax effective wealth accumulation strategy that provides flexibility and control of your retirement investment affairs then BluePrint Advisors can certainly assist.