Retirement is one of the most important life events many of us will ever experience. From both a personal and financial perspective, realising a comfortable retirement is an incredibly intensive process that takes sensible planning and years of persistence. Even once it is reached, managing your retirement is an ongoing responsibility that carries well into one’s golden years.
While all of us would like to retire comfortably, the complexity and time required in building a successful retirement plan can make the whole process seem nothing short of daunting.
However, it can be done with fewer headaches than you might think – D&M Financial Services are experts in designing retirement plans to help make sure that your retirement goals are reached.
To learn how we can help you and your family with Retirement Planning call Damien Burns direct on 0413 698 770 today
- Joe, age 65, and Tina, age 65
- Retiring after 40 odd years of working
- Superannuation of $300,000
Joe and Tina estimate they’ll need an income of $34,000 per year to maintain a modest lifestyle in retirement. However, they would prefer they would prefer a slightly more comfortable retirement, particularly for the first ten years while they’re most active. They think they will need approximately $50,000 per year to achieve that.
A retirement income strategy was developed and implemented that would allow Joe and Tina to receive an income of $50,000 per year for the first ten years of their retirement which would fund a comfortable lifestyle for them during their more active retirement years.
Of this $50,000 78% or $38,988 would be guaranteed. Their income after ten years would decrease but still allow them to pay for their basic costs and planned discretionary expenses without some of the higher discretionary spending they were doing during the earlier part of their retirement when they were most active. Joe and Tina will receive regular reviews of their situation and they now have a huge amount of peace-of-mind knowing their future retirement income needs are planned and accounted for.
- Claud, age 66, and Margaret, age 67
- Just retired after 40 odd years of working
- Receiving part age pension
- Superannuation and other assets valued at just over $800,000
Claud and Margaret realised quite quickly that they would not be able to survive financially on the Centrelink age pension alone. They were worried that they wouldn’t be able to meet their living expenses for the rest of their lives
On the recommendation of their friend, Claud and Margaret contacted D&M Financial Services to get advice for their retirement funding. As a result of the advice provided by D&M Financial Services, Claud and Margaret are now receiving three different income streams, tax-free, that will guarantee a comfortable lifestyle for the rest of their lives.
They have the ability to access lump sum withdrawals should the circumstance arise and are receive regular ongoing advice from D&M Financial Services which has provided an enormous amount of peace-of-mind to Claud and Margaret and allows them to focus on enjoying the twilight years together and with their children and grandchildren all the while knowing that their financial situation is secured and taken care of.
Please be aware that this is a case study and that individual circumstances can be different and thereby achieve differing outcomes. Please take advice from a professional financial adviser