As your retirement draws closer, you have a lot to look forward to – spending more time with the family, travel, community involvement, getting fit or just catching up on things you always wanted to do but never had the time!
When we talk to our clients who are approaching retirement, they have two main considerations – whether their money will last and whether they’ll be able to live the life they want.
What is retirement income?
During your working life you receive regular income in the form of a salary or business income. In retirement, this regular income stops so you need to draw on your savings to meet your lifestyle costs. We can help you set up your savings so you still receive regular payments, just like a salary. This is called a ‘retirement income stream’.
The type of income you require, at retirement, depends on whether your savings are inside or outside of your superannuation.
Come and talk to us and we will work out the most tax effective and Centrelink friendly income for you.