Life becomes less hectic. Your family and financial commitments are reducing, leaving more ‘you’ time and more money for enjoyment, travel and interests.

This is probably your peak earnings period so it is an ideal time to make some really significant contributions to boost your personal wealth and secure your financial future in retirement.

Whether you already have a financial plan or you are thinking about this for the first time, as a Count Financial advisor we can help you make the most of this important stage in your life.

Take a look at this short entertaining video on how some simple strategies now can make a big difference to the years ahead.

‘When should or could I retire?’ | ‘How can I preserve my assets?’ | ‘What will my retirement income look like?’

These important issues are the most common questions we are asked by clients in their pre-retirement years. The answer depends on how well these five essential building blocks for creating, managing and protecting your wealth, in this simple formula are managed.

Save and Invest + Grow your Superannuation + Protect you and your wealth with Insurance + Minimise Debt + Minimise Tax

During this period of peak earning capacity it is important to have regular contact with your financial adviser as each of these five factors plays a huge role in your financial security and peace of mind in retirement.

Regular contact with your adviser means you can revisit and adjust your financial planning goals and strategies. Developing a budget for your desired lifestyle now and in the future is a great start to fine-tuning your financial plan and creating time frames for retirement.

This is also an ideal time to discuss how you will use your accumulated wealth to create an income during retirement and make the most of your asset base. You want to be able to afford your desired lifestyle.

You will still be focussed on creating personal wealth but management and protection of your wealth demand more attention.

You might also be considering some additional savings and investment opportunities to make your savings work harder and faster and consider how you manage any debt.

As your wealth accumulates this may affect your tax liabilities. We take an holistic view of your financial goals and wealth creation strategies and advisor on how to minimise or offset the effect of unexpected tax implications.

TTR is quite popular with people who have reached their preservation age. This can be a tax effective way of generating additional cash flow if you want to reduce your working hours without compromising your lifestyle.

We will assess your situation, needs and objectives and determine whether this strategy is suitable.

Super is the cornerstone of most peoples’ retirement planning. This peak earnings period is an important time to put your superannuation or self-managed superannuation fund (SMSF) under the microscope and make sure it is tracking the way you want. With recent changes to legislation governing contribution limits it is important to get the right advice, and consider alternative investment options to compensate for any negative effects of the changes. This period of peak earning capacity is the most advantageous time to make the most of salary sacrifice, post-tax contributions and spousal contribution opportunities. Some ‘smart super’ strategies now will make a big difference later on.

As we age we have a reduced ability to recover from the negative consequences of unexpected events. In this period of peak earning capacity, your personal wealth is consolidating so it is important to protect you, your family and your assets against unintended situations and events.

Insurance is an important part of managing wealth and the cornerstone of protecting your wealth and many policies are tax effective. Now is an important time to review and put in place the right insurance as once you reach retirement or the age of 65 you may not be able to apply for some types of insurance.

Conversations about aging, the future and a person’s future ability to look after themselves can be difficult and confronting. This isn’t helped by the fact that demand for aged care exceeds supply and most decisions to move into care have to be made quickly and on the spur of the moment.

You and your family want you to have the best care, so one of the big issues is that of affordability. The cost of aged care is increasing and many people are unprepared for the costs. Some seek financial help from their children to meet the fees or end up compromising on the type of care they would like.

The ideal time to consider and financially plan for this stage of your life, to avoid upset and confusion later on, is when you are at your peak earning capacity. A good way to do this is through a family meeting with a financial advisor so that everyone has shared understanding of your wishes and your financial affairs can be adjusted accordingly.

As a member of Count Financial we can provide aged care advice and guide you through the maze of information, processes and complex fees and charges. We also have a clear view of your financial situation so in consultation with you and your family we can recommend future focused financial strategies that will give you the peace of mind of being able to afford the type and standard of care you want when the time comes.

For more information on how we can help plan for your retirement living and aged care.

Retirement and future care needs

With comprehensive knowledge of your financial affairs and an understanding of your future needs and wishes we can collaborate with your solicitor of choice in developing your estate plan. The benefit of this shared understanding between your legal representative and financial advisor is reduced conflict later on, less unintended consequences from bequests, and less chance of legal challenges and expenses.

For more information on how we can help you with estate planning.

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