Usually, they are in their late 40s onwards. Ideally, pre-retirees by their last 40s should have a good understanding of the framework in which they will most tax effectively save and invest to provide for their retirement.
If they leave it too late to plan for their retirement, some opportunities will be lost. See our FAQs in relation to Superannuation and Self Managed Super Funds (SMSFs) at www.griffinaccountants.com.au/smsf4u.
We help pre-retirees:
- Understand the framework in which they will most tax effectively save and invest to provide for their retirement.
- Understand what they need to do to be able to retire when they plan to and how much they will have to live on in retirement
- Confirm their current living expenses and estimate their likely living expenses in retirement
- Recognise tax effective strategies to invest their saving to maximise their income
- Recognise why superannuation is an important vehicle for their savings and how best to manage it
- Recognise the choices they have to provide for their retirement; for some this may include downsizing or a sea change that release cash from their main residence that can further add to their retirement savings and be a source of income.
- Understand how to minismize their tax for themselves and for their estate in the future
- How insurance (Life/TPD/Trauma/Income Protection) can be used to protect the lifestyle and opportunities (eg. Education, providing for retirement) they would like to provide for their family and loved ones. Ideally, insurance if needed should have been taken out earlier as its cost increases as you get older unless you have locked into a LEVEL premium.
If you would like more information, please Contact Us.