Planning ahead for retirement
Like many Australians, you probably find planning for your retirement often takes a back seat to the everyday noise of your career, family and friends.
It can also be a topic many people avoid because most Australians won’t have enough money to fund the retirement they want.
However, as with most things in life, the sooner you begin planning, the sooner you’ll know what you need to achieve for a comfortable retirement.
Mentor1 Financial Planners can help you take time to focus on organising your retirement future, while taking into account your immediate needs.
Together, we’ll discuss your current retirement thoughts and have a look at other options you may not have considered.
You’ll discover how you can achieve your retirement goals through:
- managing your current income differently
- maximising existing and future investment into your superannuation fund
- considering if a self managed super fund is right for you
- clever ways to structure your assets and investments.
Case Study – Tom & Katrina’s story
Tom and Katrina are a married couple in their late 30’s. Tom has a paid job, whilst Katrina looks after with the home and their three kids aged nine, seven and three. Continue reading…
Mentor1 quickly determined that Tom and Katrina were paying more fees for super than they needed should beto. Also, they did not have the right type and level of insurance cover to protect them and their family. With three children to think of, Tom and Katrina needed insurance that would protect them and their children against financial hardship.
Mentor1 helped Tom and Katrina by tidying up all of their super and getting them the right insurance protection.
They now have super with just one provider making things much less complicated. Their super accounts are linked so they receive a fee discount and their combined fees have been reduced, saving them around $700 a year.
Also, they now have the right levels of insurance. This includes Life & Disability insurance that will cover the debt on their $750,000 home and ensure that household expenses and school fees are taken care of until their youngest child reaches 18 years of age. Also, a comprehensive Income Protection Policy for Tom ensuring that should he be unable to work due to an accident or severe illness, he will be paid a benefit equivalent to 75% of his salary until he turns 70 or until he is able to return to work. And finally, Critical Illness policies for both Tom & Katrina of $200,000 each, which covers them should they suffer a major trauma or illness, funding the medical bills whilst allowing them time to recuperate without having to worry about money.
These insurances are now paid for by their superannuation funds rather than their after tax income, which means Tom and Katrina pay less tax and have more cashflow.
Mentor1 provided Tom and Katrina with an all encompassing superannuation and insurance solution that they can easily understand and is easily adaptable should the family’s circumstances change.
You can find out more about Tom and Katrina’s story by contacting their financial planner, Liam Diggin.
If you’d like to find out how a Mentor1 financial planner can help you plan for now and for the future, please call us on 1300 765 811.
We think getting to know each other is essential. That’s why the first appointment with a Mentor1 financial planner is complimentary. In less than an hour we’ll give you food for thought and then you decide when you want to come back.