Retirement Planning

Helping to Simplify and Secure Your Finances in Retirement

When you retire you have many decisions to make.

You have to decide where you are going to live, what to do with all your “free” time and how to spend or invest your money so that it lasts right throughout your retirement years.

To make matters worse, people keep throwing all these technical terms at you – such as ‘Reasonable Benefit Limits’ (RBL) and ‘Eligible Termination Payments’ (ETP’s).

Retirement should be one of the most enjoyable stages of your life – a time to reward yourself for many years of hard work. It should be a time you can look forward to enjoying and not a time of uncertainty and confusion. Whether you are approaching retirement or have already retired, a Crest Financial Services team member can guide you towards the most effective solutions for your particular needs. Proper planning can help you to go through retirement with the confidence that you are financially secure.


How Can You Generate An Income In Retirement?

Retiring from the workforce does not have to mean an end to receiving an income. Through careful investment into certain financial products such as immediate annuities, annuities or allocated pensions, our financial planners will make your investments pay you a regular income.

Numerous fund managers provide these kinds of products. Whilst they share many similarities, there are also several variations. Our financial planners can explain and recommend the right choice to suit your individual circumstances, time frames and objectives.


Retirement Planning

Retirement planning is the process of arranging your finances so that you can achieve your financial and personal goals in retirement.

It begins by defining your needs, objectives and current situation. Once these are established, our financial planners will prepare a broad strategy based on your goals. On your approval, a comprehensive financial plan will be implemented. This plan will take into consideration your current needs as well as plan towards meeting your retirement objectives.

When you consider that you could spend around one third of your life as a retiree, you start to realise the importance of having an effective retirement plan.

Your retirement payment is likely to be one of the largest lump sums of money you will ever receive. Whilst it may be tempting to use it to pay off the mortgage, go overseas or invest in the share market, you should carefully weigh up your options before deciding what to do. After all, this money has to last you all of your retirement years.

When you work out what to do with this money you also need to consider issues such as taxation and your ability to get a pension.

Individual circumstances differ and many of these issues can be complex and confusing. It is therefore best to seek professional advice to make the most of your retirement payment. This is where retirement planning comes into play.

You should be free to spend your well-earned retirement doing the things you’ve always dreamed about. With the assistance of your financial planner, your retirement could include some of the best years of your life.


The Benefits of Retirement Planning

Putting in place a suitable retirement plan for you will increase the likelihood of living a financially secure retirement. It will also maximise the returns on your investments as well as maximise your eligibility for any social security entitlements.

Effective retirement planning helps you to take advantage of taxation benefits specifically established for retirees, such as:

  • Tax rebates;
  • Higher tax free thresholds; and
  • Zero taxation on earnings while funds are held in certain retirement income products.

Your Crest financial planner will help you get all the benefits of retirement.