Description

If 50 really is the new 40, then life has just begun. The kids are gaining independence or may have left home, and the mortgage could be a thing of the past. Bliss. But galloping towards you is… retirement!

How are you tracking?

According to the Association of Superannuation Funds of Australia (ASFA), a ‘comfortable’ retirement today costs close to $.......... per year for a couple. If you and your partner are planning to retire at 55, to afford this retirement lifestyle and secure your future, at least into your mid-eighties, you should be looking at having around $... million in super. Over time, inflation will push these figures higher. Leave retirement to age 65 and a couple will need around $.......... a year from a nest egg of about $... million .

Find those numbers a bit daunting? Here are some ways to boost your retirement savings.

Introduction

Typically your forties is a time of established careers, teenage kids and a mortgage that is no longer daunting. There are still plenty of demands on the budget, but by this age there’s a good chance there’s some spare cash that can be put to good use. As you pass the halfway mark of your working life, it’s time to give retirement planning a bit more attention.

Introduction

If you are in your thirties, chances are life revolves around children and a mortgage. As much as we love our kids, the fact is they cost quite a lot. As for the mortgage, this is the age during which repayments are generally at their highest, relative to income. And on top of that, one parent is often not working, or working only part time. Even if children aren’t a factor, career building is paramount during this decade.

Are you really expected to think about super at a time like this?

Well, yes, there are a few things you need to pay attention to.

Introduction

Falling in love is a magical and wondrous experience, but once the heart flutters have settled a little and two people move towards a more serious relationship, various challenges may need to be addressed. Many of these challenges can be easily resolved when we’re young and carefree, but what happens when Cupid appears – or reappears - later in life?

Unlike earlier relationships, when love blossoms late in life careers have slowed down or ceased, the children have left home, and health and fitness may not be what it had been, meaning that a ‘lifetime’ of togetherness may not be as long as first anticipated.

From a less romantic perspective, the financial implications of beginning a relationship at this time of life are serious and need to be considered carefully.

Introduction

Just as your wealth creation strategy needs to be reviewed on a regular basis, so too does your wealth protection plan. Every stage of life brings exciting challenges along with different types of risk.

Let’s look at the most common scenarios. You may see yourself in some of these stories.

Introduction

So how do you get this free money? This is how…

Introduction

Introduction

Smart business owners plan ahead for even the most unexpected threats but as times change, these threats come in different forms. We’ve highlighted a few in this article with suggestions on how to deal with them before they affect your hard-earned freedom.