Meet Sharon – who is definitely pre planning her retirement – and one of my success stories.
Turn $109,000 into an anticipated $491,000 over 7 years.
Sharon was school teacher, single mature mum aged 57, on $85,000 p.a. with a modest but decent superannuation fund. She also had another older fund with higher fees and an exit fee.
Following discussion, we agreed to amalgamate the funds, wear the exit fee and implement a Transition to Retirement Strategy (TTR). This is available for those between 55 – 65 and still earning income. It was commenced right in the middle of the GFC, 2009.
Sharon took an ongoing advice package, and took necessary advice tweaking the strategy each year, with a major revamp late in year 3. The results speak for themselves. Total retirement fund increase by 100%, with a projected further increase of another 100% by year 8.
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QUICK QUIZ : You are probably 5 – 10 years from retiring. So….
Take the following quiz. If you cannot answer in the affirmative in at least 4 of the 6 questions – then you have a potential problem and you need some financial advice and guidance.
1. Based on the current projections – do you know what income you will have in
retirement to live on ? Can you live on that figure ?
2. Do you know what your assets should be invested in NOW to meet a required
investment return ?
3. Have you set up a tax effective way to add to your retirement funds ?
4. If you still have substanial debt, have you a suitable reduction plan to reduce debt?
5. Can you reduce your living costs – without reducing your lifestyle?
6. Have you thought about downsizing – if and when that might need to happen?
Contact me to arrange an obligation free 1st appointment to discuss your situation: . . . . . 02 9324 8834