Preparing to Retire

Pre Retirement (50's to 60's)

So now you've been working for what almost feels like a lifetime, the kids have left home (maybe), over your working life, you have accumulated wealth by building up your investment portfolio, are hopefully debt-free and have had the extra cash flow to put extra money in Super to fund your retirement. Grandchildren may be in the picture, and your stresses and worries about paying school fees and the mortgage have given way to dreams of retirement and that trip around Australia or that long-yearned for trip to Africa or Europe.

Concerns turn to how you will fund your lifestyle in retirement, your parents and their health, or how to ensure that the family home, which has been in the family for generations, is distributed fairly and equitably.

At this stage of life, financial advice becomes even more important. It is recommended that you get advice at least five years before your retirement date to ensure you have sufficient time and are financially ready to retire. You may need to deal with these considerations.