143067-425x282-retirement-coupleSo you’ve accumulated enough wealth by working more than half your life. Now it’s time for you to enjoy your hard earned money and hope it lasts you through retirement.  Pre – retirement is a crucial time as you should have strategies in place to protect your wealth. Life after retirement should be an exciting chapter in your life, and with your retirement fund in hand, securing it should be the least of your worries.

When you are in your early 50’s, proper care should be made to ensure that you have a wealth protection plan for retirement. Usually, at this time, you should be thinking of your super contributions, taxations, retirement and estate planning. The goal is to ensure that you safeguard your income and put yourself in a position to enjoy retirement.

For people nearing retirement, the most common concern is how you can make your money last. Some think it’s just a matter of choosing the right investments, but as retirement draws near, you will also have to address lifestyle issues that will directly affect your income and savings. You should be able to answer questions like: What type of lifestyle do I want? When can I afford to retire? And am I prepared for any changes to Super? These and more should be handled to give you peace of mind when retiring.

Superannuation in itself, is an issue that has to be addressed as early as possible. Recent changes to Super show that an average 50 year old Australian will have their super reduced by $80,000 in fees alone. Although there’s no going around these fees, there are several measures you can take to protect your Super against it. A good financial planner will help assist you find the most viable, low fee fund that is suited for you.

Managing your assets is another key factor to secure your retirement. Are you investing on assets that suit your lifestyle? Are your assets achieving returns you expect within a given timeframe? If so, a good wealth protection plan should be in place to help secure your wealth as you transition to retirement.

Retirement should always be synonymous to enjoyment. Planning for retirement should be addressed as early as possible to secure your future. A good financial planner should be able to assist you every step of the way.

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Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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