Retirement & Other Life Changes

It’s Comforting- to move from change to …Clarity

There’s no doubt that retirement can be a concerning time.

Retirement raises many questions: How do you begin to prepare?  Will you outlive your capital?  What about tax?  And what about all of those rules?  Will you be able to care for your family?  What about your business?

Other life changes can also prompt concerns: How will your family be affected?  Will your wealth be affected?  Are there any hidden issues?  What are the long-term consequences?

While there might be a lot to be concerned about,  First Samuel can provide clarity.  And the comfort that clarity brings.

Retirement – plan early

Moving from work income to investment income requires careful planning.  Even if you plan to work until you are 65 or 70, the complexity of superannuation in Australia means you have to start making decisions as early as possible.  The first of the government age-based rules comes into play at age 50, making it a good time to start.  The decade from age 50 to 60 is usually your peak income-earning period, so it is a good time to begin preparing for retirement.

Paying less tax early on means big savings in the long term.  But the shift from work-based income to investment-based income involves finding the right balance between your short-term and long-term needs.

How much do you spend now and how much do you invest for the future?  If you leave it too late, you may find yourself with too little capital to live on when you want to retire.

First Samuel’s wealth strategy advice is the place to start.  Only by taking expert advice can you have the clarity you need.  And the comfort you want.

Other life changes – get help

Major life changes can be stressful and confusing and have significant financial consequences.  From positive events like marriage or starting a business, to more difficult situations such as divorce or retrenchment, the financial realities may be daunting.

If they are not managed properly, it can be very costly.

By allowing First Samuel to provide clarity and comfort, you can focus on the more personal side of life changes.

And so you will be better able to live well and sleep well.