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Retirement Planning

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Retirement is a time of life for you to relax and do the things you have always wanted to do.
Therefore, careful planning can help ensure you are financially comfortable.

Prior to retirement, there are some important questions you need to ask yourself, including:

  • What do you want to do in retirement?
  • How much money will you need to do it?
  • Do you need a regular income?
  • Where will this income come from?
  • When can you retire?
  • How and when will you be able to access your super?
  • What Government support will you be eligible to receive?

Planning ahead can assist you in making the most of what you have and help you achieve financial security, reduce uncertainty and enjoy your retirement.

There are many different options available to help fund your retirement. These include taking your super as a cash lump sum, purchasing an income stream product to give you a regular income or a combination of both.

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  A regular income in retirement

Account-based pensions
An account-based pension is purchased with super monies and provides a flexible, tax-effective, regular retirement income stream. It is not guaranteed, however the payments are flexible and can be any amount over the minimum limits set by the Government. Any capital remaining upon death is distributed to your estate or dependants.

Annuities
An immediate annuity on the other hand is an investment of a lump sum, usually with a life insurance company, that provides a regular guaranteed income for a specified period. The income will depend on the initial investment, frequency of payments and the prevailing interest rate. The income you receive is generally set at the time of investment and will not change.

Each type of income stream has different features. A Quadrant Securities financial planner can help you with these changes and your retirement planning by identifying income options that best suit your circumstances and goals.

  Additional Information:

Any advice provided by South West Credit detailed in this website is provided independently of Quadrant Local and our Licensee, Charter Financial Planning Limited. Neither Quadrant Local, nor Charter Financial Planning Limited take any responsibility for any actions or service they provide.
TQC Nominees Pty Ltd ABN 15 053 019 560 and The Trustee for Portland Planning Trust ABN 83 789 671 326 trading as Quadrant Local are authorised representatives of Charter Financial Planning Limited, Australian Financial Services Licensee and Australian Credit Licensee.