Financial freedom is something every one of us will look forward to. But how many among us plan some strategy and work on it to achieve that financial freedom or security at least after retirement, without having to depend on government support? I say one in 1000 and I still feel it’s an exaggerated estimate.
Financial planning with retirement in mind is ideally done through the services offered by expert financial planner Sydney; because he/she has competency and knowledge to offer you a path to a safer financial future post your retirement. With increasing financial uncertainty everywhere, it becomes all the more vital to plan for post retirement life that ensures you complete financial backup once you retire.
Retirement is not complicated if you are smart and wise and it will include with the finances from the very beginning of your life. The importance of planning your retirement is for the most obvious reason – financial independence/security once you retire from work. A financial planner can serve your purpose quite efficiently and financial planning for retirement is not matter to be postponed but need immediate action and a checklist for retirement planning will make your job simpler and faster. The following are the key points that your financial planning for retirement should include:
- Streamlining your various accounts and investments is the first thing to do.
- Clear all your debts; after all you need to have peaceful mind after retirement and with huge debts riding on your back it your retirement will be a huge burden.
- Save more; save your money in fixed deposits, bonds and debentures, as they are a safer bet.
- Life and health insurance; pay your premiums on time to avoid any lapse or cancellation of the policy that might worsen your retirement plan. Get in touch with your financial planner and get your portfolio updated to avoid any hassles when you retire.
- Do not touch your savings unless you come to a point of death. Because you never know what will happen after retirement, having sufficient financial backup is a must while planning your retirement.
- Determine your withdrawal strategy; make sure from what sources you will have a regular flow income, decide on monthly expenditure factor after retirement, which of the savings you will access first are a few things you need to give a serious thought before retiring. A financial planner with his efficient financial planning will definitely help you in this regard.
- Tax planning; consult your financial planner who will guide you and ensure your pension and annuity get a minimal tax cut.
- Keep your employer informed well in advance to avoid any payments dues.
Finding the right retirement financial planner Sydney is key to a successful retirement planning and wealth management. If you are looking for good retirement and financial planners in Sydney, then visit the website http://www.financial-planner.org.au/ The team of planners here strive to successfully manage your wealth so you have peaceful and secured retired life.
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