Long lunches with friends and family. Volunteering. Play dates with your grandchildren. Sipping wine while watching the sunset. Weekly rounds of golf. Waking up in Paris. Cruising the Panama Canal. Doing what you want without a care in the world.
Sounds like the perfect retirement, doesn’t it? And it can be yours.
Retirement is just around the corner, regardless of your current age and it’s never too early to start planning.
At Paradise Financial Group we believe there are five elements you should be aware of when planning for your retirement and we have outlined them below.
Set goals and plan
What does retirement look like for you? Of course, your finances are a big part of this plan. However, without knowing what your retirement will look like, it’s hard to come up with a certain amount of money you want/need. Ask yourself:
- What do you want to do in your retirement?
- Where do you want to be?
- Who do want to spend your time with?
- What do you want to eat, see, experience?
- What do you want to achieve?
Get advice as early as you can
Investments, superannuation, tax strategies and maximising your returns can be complex, even if you have some financial knowledge. Making decisions earlier rather than later can have a huge impact on your future lifestyle.
We always recommend getting advice as early as you can to ensure that you have a plan that is going to work for you and your family. A Paradise Financial Group financial specialist can work with you to formulate a plan for your individual situation.
Make it a priority
Saving for your next holiday, paying the mortgage or putting away for your children’s education. There always seems to be something else to put your money towards first. Juggling the family budget and priorities can be difficult and many people don’t think of retirement apart from their employer’s compulsory superannuation payments.
To ensure that you have the retirement that you want, it’s important to make it a priority and this is where Paradise Financial Group can help. Our financial specialists can help you create a plan to include everything that is important to you – children’s education, holidays, mortgages and your perfect retirement.
Diversify your investments
Putting all your eggs in one basket is never a good idea. To get the retirement you want, it’s important to diversify your investments. Investing in a range of assets such as shares, property, futures and managed funds will ensure that your investments grow over time regardless of the economic climate.
Using a full range of investment assets can help protect your investments against inflation and keep pace with your income needs over time. Spreading the risk now can help you avoid financial headaches in the future.
As Paradise Financial Group is independently owned and operated our aim is to match our clients with the best products and services from the market place and not just ‘what is on offer’
Be flexible with your retirement date
The date you leave full time work isn’t set in stone. Giving yourself the flexibility around a retirement date allows you to explore different options such as part time work, retiring early or waiting a little longer.
It can also allow for you to explore different risk and return investment options, both long and short term and ensure that you have enough money saved before you finally finish working.
Let Paradise Financial Group help you make a plan for retirement, contact our financial specialists today.