Planning for your retirement

Live the lifestyle you are acustom to and don't get caught short, at CMS we can help you plan for your retirement.

Your 3-5 year pre-retirement planning itinerary

1. Prepare a budget - your current expenditure and expected expenditure in retirement;

2. Start paying off your debts;

3. Maximise your superannuation savingsto ensure a tax effective retirement income stream;

4. Clarify your retirement goals;

5. Build an emergency savings fund;

6. Decide on whether to keep or sell your home;

7. Identify, schedule and budget big expenditure items before retirement;

8. Review medical coverage;

9. Decide whether you wish to continue working part-time following retirement.

The transition to retirement begins with the end of your working career. The decision on when to retire will depend upon your personal circumstances and will encompass all of the following;

Considerations

• Incorporated into this decision should be a preparation for not only the financial implications of your retirement, but for the inevitable lifestyle changes that go hand in hand.

• How much Super is enough?

  Use our financial calculators to find out how much super you need to live the lifestyle you want in retirement and check if you are currently on target.

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• Case Study - Sally

  Sally is preparing to roll her superanuation in to an allocated pension. Check out her options and the most effective solution.

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• Case Study - Judy

  Judy has reached the age of 55 but wants to keep working to 65. Will transitioning to a pre-retirement pension actually help her save more for her retirement over the next 10 years?.

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• Case Study - David

  David has reached the age of 55 and wants to weigh up his options. Should he retire now or continue working either full-time or part-time?.

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• Want to read more case studies and informative articles