Maximise Your Retirement Income
Most Australians look forward to the day they can retire from work and enjoy a life of travel, fishing, golfing and spending endless time with their grandchildren. They expect their house to be fully paid off with plenty of cash to maintain their lifestyle. Sadly this is often not the case.
Unfortunately, most Australians rely on rising stock markets to fund their retirement. There are much better strategies to fund retirement than this.
At Suncow Wealth, we work with our clients to understand their retirement needs, explore the options available to them and then prepare a financial roadmap showing them how to maximise their retirement income.
Here are some ideas to help maximise your retirement income
- Work out how much income you need to live off. Budget!
- Match your budget with an investment strategy which doesn’t rely on markets rising
- Investigate the suitability of a Transition to Retirement Pension (TTR)
- Understand tax is an expense
- Don’t invest in expensive products and managed funds
- Possibly use a SMSF for couples to help reduce fees
- Make sure your life has a purpose even when you’re retired.
- Consider our Cashcow Portfolio!