Will you be able to live the retirement lifestyle you want to?

Australians, on average, are living longer than ever, thanks to better health and medical advances

That means the longer you live, the more money you will need for your retirement.

Whatever your plans, it’s vital you have a strategy in place so that you can build your retirement savings as much as you can before you retire. In a groundbreaking survey of over 12,000 Australians in conjunction with CoreData, it was found that 92% of those with an adviser have greater control over their financial situation.

Decide on your lifestyle

When it comes to focusing on your retirement plans, taking the longer view does make a difference. 88% of advised clients said that their Adviser’s help had allowed them to be free from financial worries. While you may be focused on mortgage payments or rent, family needs and work pressures now, it’s a good time to look to your future. Thinking about where you want to live. Will you be downsizing? Moving to the beach, bush or staying put?

Figure out how much you need

Once you have decided how and where you want to live, you will need to set up a plan to achieve what you want.

Start catching up now

You might find that you are further behind than you thought for your ideal retirement lifestyle – this is often the case. However, it is never too late to make a change. You could be at the peak of your earning potential, so you have a real opportunity to save more and make up for lost time.

Don’t put it off

Putting your plans in place for retirement early really does deliver. 89% of those that had a Financial Adviser felt that receiving advice allowed them to live their desired lifestyle. Most importantly, it was found that the benefits of advice or the ‘advice dividend’ was felt across age, wealth and gender – removing long-held beliefs that advice only benefits wealthier or older Australians.

Here are some of the things you should look at to see if you are on the right track:

• Superannuation – is your super invested appropriately? Do you need to contribute more now so that you have enough for the future?
• Investments – if you have managed funds, shares or property, are they invested strategically to help accommodate your changing lifestyle?
• Insurance – do you have the appropriate level of life and income insurance? Are you and your family covered if anything happens?
• Daily finances – are you spending money on things you don’t use? If the kids have moved out, are there ways you can scale back?

Financial advice makes a difference

Let us help you plan for your retirement. Contact OBT’s friendly Financial Planning team in Gatton today to arrange a meeting.

Our financial advisers Bruno Tjelder and Damon Zischke and OBT Financial Planning Pty Ltd are Authorised Representatives of Lonsdale Financial Group Ltd ABN 76 006 637 225 | AFSL 246934.

This is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from a financial planner and seek tax advice from a registered tax agent. Information is current at the date of issue and may change. This information and certain references, where indicated, are taken from sources believed to be accurate and correct. To the extent permitted by the Law, Lonsdale, its representatives, officers and employees accept no liability for any person that relies upon the information contained herein. Information is current at the date of issue and may change.