RETP071 Don’t ignore the third stage of retirement planning (562 words)

This article explains the three stages to retirement, and then focuses on the final ‘Frail Years’. We outline the most important considerations when planning for these years and cover Government assistance, through to strategies for retirement planning. 

The Golden Years… a time of leisure, travel and more time with the grandchildren. This is likely what springs to mind when someone mentions the retirement phase of our lives.

However, did you know that your retirement years are typically split into three main stages – the active years, the sedentary years and the frail years?

While most will hope and/or plan to spend up big in the active years, it’s important to ensure you also plan on having adequate funds set aside for the frail years. These are the later years of retirement where health and functional capacity may begin to decline, and additional care and support may be required.