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Retirement Planning Tips and Strategies

  • Mortgages
  • Budgeting
  • Investment
  • Life Insurance
  • Superannuation
  • Retirement Planning
RETIREMENT PLANNING

Retirement Planning is the process of ensuring that you have enough money when you retire to live comfortably. It is an incredibly important process yet most of us only start thinking about it when it might be too late.

Retirement planning is no easy feat - there are many things working against you when trying to figure out what you need in retirement:

What will I spend each year when I retire - the Association of Super Funds Australia estimates that a couple need $39,442 per year to retire with a "modest" lifestyle or $60,604 for a "comfortable" lifestyle in retirement (assuming retirement at age 65). Where do you fit in on this spectrum?
How much super do I need - if you manage to figure out how much you plan to spend each year you then need to try figure out the amount of money at 65 that will let you take that much money home each year.
How do I get there - the hardest part (of a very difficult process) is to make sure you are putting enough into super, and getting a good return on that money, to reach your retirement requirements. This is made harder by the conflicting goals of life today vs life tomorrow.

These are some of the hard questions that need to be answered when doing retirement planning. Historically, these questions have been answered by financial advisers - now Plenty can do it all for you. Below are some of the key differences between advisers and Plenty when it comes to retirement planning:

Financial Advisers
Plenty
Tailored Recommendations
Financial Advisers
Plenty
Tax Effective Contributions Strategies
Financial Advisers
Plenty
Tax Efficient Retirement Structures
Financial Advisers
Plenty
Real Time Notifications
Financial Advisers
Plenty
Plans Based on Live Data
Financial Advisers
Plenty
Free Retirement Recommendations
Financial Advisers
Plenty
Anytime Updates of Your Roadmap
Financial Advisers
Plenty
Why Choose Plenty to Help With Your Retirement Planning
Free Financial Planning for Retirement

At Plenty your free financial roadmap is very focussed on the goals you would like to achieve and, if retirement is one of those goals, then the roadmap will be laser focussed on achieving that goal.

To do this, we will ask you at what age you want to retire. We then forecast what you have to spend and save today to retire at that age comfortably. We determine your comfortable retirement based on your current spending habits rather than some arbitrary number.

Retirement Planning Strategies

At Plenty we understand that superannuation is the key to your retirement. That is why we will propose tax-effective contribution strategies that will ensure your retirement nest egg grows in the most efficient way possible. These strategies are unique taking into account your employment, age, goals and tax rate.

Our roadmap also analyses your existing superannuation arrangements to make sure they are in a low-cost fund (fees play a huge role in your retirement). Once in this fund - we will recommend the right mix of assets you should hold based on your current situation and when you want to retire.

Retirement Planning Trade Offs

We completely understand that it is very hard to prioritise your retirement when it might be 10-20-30 or 40 years in the future. That is why Plenty allows you to save for multiple goals at the same time - looking to buy a new house in 5 years but also worried about retirement? At Plenty our roadmap takes all of this into consideration and allows you to understand exactly what you need to do in the present to be comfortable in the future.

The best part is, with Plenty, you can see how these goals affect your current spending in real time; we allow you to update your goals and get a new plan as many times as you want. If you have ever wondered how retiring 3 years earlier or later might impact what you need to do now than Plenty can show you.

Retirement Planning Budgeting

Unfortunately, retirement planning, and maximising your super, often involves trade-offs between current you vs. future you. To retire comfortably often means sacrificing on spending today so that you can boost your superannuation.

Plenty helps to do this by both showing exactly what you need to spend today to retire at the age you want and how to best boost your superannuation tax effectively. Our planning tools also gives you the power to see exactly what you have to spend to retire at different ages. For an additional monthly fee, we also enable you to have your very own personalised planner to help you stay on track.

Retirement planning is hard - your free financial roadmap will tell you exactly what you need to spend to keep your lifestyle in retirement.
Get your money working harder for you.