Retirement Planning

How Much Is Enough?

At this stage of life you shouldn’t have children to worry about you may need one less car and tax won’t be as big a burden if you structure your finances correctly. What you have has to last you a lifetime, so let’s care for it, build it and manage it.

The most important step in planning to save for your retirement is figuring out how much you will need to spend each year to live a comfortable lifestyle. Many people struggle to develop a budget when it comes to developing a budget for their future needs, particularly if their retirement is many years away.

The team at TNR Wealth Management is able to advise you on what to expect and how best to prepare for future retirement.

Transition to Retirement

Transition to Retirement (TTR) is a strategy that is used by people that are nearing or over their superannuation preservation age.

This is a very tax effective method of saving for retirement given the right circumstances.

Anyone over the age of 55 should be looking at whether or not this strategy is appropriate for them.

The team at TNR Wealth Management can work with you to decide if this strategy is indeed right for you and if it is, make the recommendations and assist with implementation and management of this strategy.

Cashflow Management

Once your goals have been set we will need to establish what your current spending and saving habits are.

To be able to accurately assess whether or not you can achieve your goals, your TNR Wealth Management Financial Adviser will work with you to establish your current income and expenses.   Clarifying your current cashflow situation will not only empower you it will give us a better understanding of what your spending and saving habits are and allow us to help you identify areas where you could possibly save further money. From this your financial adviser can further strategise to achieve your goals.

When we have an understanding of your cashflow and it is under control we can then begin planning for your future.

Wealth Creation

There are many different options on how to create wealth. The strategy that is best for each individual person is dependent on your financial goals, the amount that you have to invest and your attitude to risk.

TNR Wealth Management has dedicated considerable time and effort researching and construction strategies and investment options to be able to provide advice and guidance on a vast range of investment products and portfolio options.

We will keep in line with your goals and carry out a Risk Assessment to better determine the best approach and options available to you.

Growing Your Super

Sometimes it’s easy to forget about our superannuation fund and that we should start saving for our retirement. Retirement may seem like a long way off, or it could be just around the corner, but putting money into your super now can be a tax effective way to invest your money.

TNR Wealth Management can help by looking at all aspects of your superannuation, reviewing the performance of your current fund in relation to your goals, make recommendations based on your circumstances. If necessary, we can review insurance opportunities which may include buying or paying for insurance via your superannuation fund.

Self-Managed Super Funds (SMSF)

Do I need a Self-Managed Super Fund (SMSF)? There is no right or wrong answer to this question.

The answer to this question is determined by your individual circumstances.

If you have a strong view about how you want to invest, if want greater control of your super are comfortable with the rules and regulations of SMSF, or if your investment strategy includes real estate then a SMSF may be ideal for you. It does take time and effort to effectively manage a SMSF, so if you don’t want to be involved or don’t like paperwork, a SMSF may not be for you.

If you decide a SMSF is ideal for you TNR Wealth Management can assist with the setting up of the fund. For people new to SMSF’s or those that have existing an SMSF we can provide advice to ensure that it is operating in line with your goals and investment strategy and assist in making any changes required.

Retirement

We all focus on retirement and have big plans and dreams for the things that we will be able to do once we are able to retire.  What we sometimes fail to consider is how long retirement will last and if we will have enough to enjoy life without the everyday worries.  The team at TNR Wealth can advise you on what to expect regardless if you are,  transitioning to retirement, going into retirement, living in retirement or in the pension drawdown phase.  We will work with you to determine what strategies are best for you and implement them.

Retirement Living

There is a lot of focus on reaching retirement, sometimes we don’t consider how long retirement will last. Retirement is the time to enjoy life without the everyday worries. Though it is hard to know exactly how life will turn out, having put plans in place along the way will help alleviate some of those worries. The TNR Wealth Management team can advise you on what to expect and how best to prepare.

Making the Most of Life After Work

The easiest way to make the most out of your retirement is to have a comprehensive financial plan that will detail future income and provide comfort for you to enjoy your retirement savings.

Confidence in your financial plan and knowing where your income is coming from will make it much easier for you to decide to take that holiday you always seemed to put off and do the things you want, rather than worry about money.

The team at TNR Wealth Management works with our clients to create plans, keeping in line with the goals of things they want to do, when they want to do them and how they will get paid for doing those things.

Let us help you create a plan to make the most out of your retirement and enjoy this time in your life and worry less about money.

Anyone over the age of 55 should be looking at whether or not this strategy is appropriate for them.

The team at TNR Wealth Management can work with you to decide if this strategy is indeed right for you and if it is, make the recommendations and assist with implementation and management of this strategy.