Many households are looking for different ways to grow their nest egg for retirement, but may not be aware of the options that are available to them.
While it is always a good idea to put a little extra aside for a rainy day, you will need a lot more than small change to make it through the various stages of retirement.
Bernie Lewis CEO Stefan Lipkiewicz believes that "an effective superannuation scheme as well as the pension are two income streams that people often turn to in their older years".
"People should also consider investing in real estate as another effective way of generating an income that will last well into the future and provide you with a buffer against the unexpected challenges that can come up in life," he said.
As a trained professional your advisor will be able to offer sound advice on current market trends as well as the areas where you may be able to save or make money.
They can also provide a range of tailored solutions that take each aspect of your life into consideration - which could mean anything from putting extra aside in a family trust, or making sure that there is enough in your savings account to allow for the occasional overseas trip.
Depending on your current economic circumstance and retirement plans, a large part of your financial adviser's job will be to find a workable retirement plan which is based on achievable goals that will keep you on track, said Stefan.
