Posted in: Insights


Many Australians realise that planning ahead for your retirement is essential and know that calculating potential savings can provide an important guide to year-by-year budgeting.

However, it is not necessarily as common for people to consider the significance of how they want to spend their later years just as much as how long they might spend them for.

What type of lifestyle do you expect to lead after finishing your days in the full-time workforce?

Some retirees look forward to a simple life in their current home and with more time to spend either pottering around the house or with loved ones.

If this sounds like you, it might be relatively easy to form a retirement plan based on current superannuation and personal savings projections.

But views and hobbies often change, especially when you have more free time on your hands.

Perhaps as you get older you will develop a new passion or decide to live overseas - there are any number of reasons why underestimating the amount of money you need to be happy might come back to haunt you later.

On the other hand you may have grand plans for your retirement involving extensive travel, an upgrade to your home or just an extravagant and indulgent lifestyle.

The key is to remember that if you want to achieve these goals it is going to take an above average super fund or portfolio of strong and successful investment to help fund them.

If you don't want to be disappointed by the nature of the final phase of your life, it may be wise to seek superannuation advice from an experienced advisor sooner rather later.

Super funds are a vital aspect of your income stream and as such it is vital to place the emphasis on them that they deserve.