Be smart – think retirement now!

Although retirement may be a long way off for you, it might pay to start thinking about it now –if you’re not sure if now is the right time to plan, close your eyes and imagine the lifestyle you would like to lead in retirement.

If you’re visualising lots of travel, your dream car and a fabulous place to live near the water somewhere – then perhaps it’s a case of ‘the sooner the better’.

With an ageing population, it’s unlikely that the government will be able to provide for everyone in retirement. And, even if they could, what would your lifestyle be like? Imagine trying to live your dreams on around $335 every week.

Here are some questions you will need to think about when planning your retirement.

1. When do you plan to retire?
2. How many years of retirement do you need to provide for?
3. What are your financial objectives in retirement? - It helps to make a list.
4. How much income in retirement will you need to maintain your lifestyle?
5. How much superannuation will you need to provide the retirement income you need?

For more help with planning your retirement contact a Schroeder Capital adviser today.