Transition to Retirement

Creating pre-retirement options

Transition to Retirement Strategies

As you get closer to retirement there are countless strategies to put you in a better position at retirement. Pre-retirement planning is a must to ensure you achieve your goals.

Transition to Retirement is a life-changing time, whether you run headlong at it or feel nervous about saying farewell to your working life. However you approach this next phase of your life, remember that retirement doesn’t have to be an all or nothing scenario. You can ease into retirement with a transition to retirement strategy.

Capita Wealth Advice helps clients transition to retirement by assisting with:

Preparing you for a fully funded retirement.
Setting Retirement goals.
Retirement Aims Analysis.
Portfolio construction.
Tax effective strategies
Debt reduction.

Contact Paul for an obligation free discussion.

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Some of your questions answered

Frequently Asked Questions

Should I get a financial adviser?

The best way to find out if you need the services of a Financial Advisor is to have a conversation with one.

You can check out the Financial Adviser register on government website Moneysmart to review the credentials and experience of the adviser before committing to a first meeting. Paul holds a Master of Financial Planning and has over 20 years’ experience in the Financial Services profession.

During your first consultation you can discuss your financial goals, where you are at, where you want to go and what’s important to you in life. Paul will then help you understand what value they can bring to your financial health. This will differ from person to person as everyone is different.

How much does financial advice cost?

A simple question but one that can only be answered once the scope of the advice is known. This is why our initial meeting is at no obligation, and once the scale of the work is known you will be provided with a cost estimate and a letter of engagement. The costs of the service are agreed to prior to any commitment on your part. In this way you stay in control and have the confidence to make informed decisions.

My insurances cost too much, should I cancel them and save the money?

Insurance costs are always a concern, are you getting value for your money? It is a great idea to review your cover on a regular basis or when circumstances change. You may need a lot of cover in the early stages of buying a house and raising a family. This may change as the mortgage is paid and dependants become independent lowering the need to replace income and capital in the event of misfortune. It is also a great tip to have a medical check up prior to reducing any cover.

When should I start thinking about retirement planning?

There is no need to wait until your 40s or 50s to start thinking about retirement, in fact, as a general rule, the earlier you commence planning for retirement the better, as you’ll have more working years in front of you to invest and accumulate wealth. The sooner your strategies are in place, the more likely you will be able to reach your goals.

Retirement planning can involve a number of strategies. However, the overall focus is generally to build sufficient wealth to meet your lifestyle objectives once income from active employment has ceased.

If you are 45 – 50 and you have not turned your focus towards retirement planning as yet, please give us a call today.

Do I need savings to get started?

No. Financial planning is not just about investments, nor does it require thousands of dollars in the bank to start working towards a secure future. We will begin by assessing your current financial situation, assess your cashflow, and recommend changes or additions that will positively impact your future and provide you with a strong foundation to build on to achieve your financial goals.

However, it is necessary to have an idea of what you are trying to achieve and a clear picture of your current financial position. Preparing a summary of the following is useful;

What you own; your home, bank accounts, superannuation, vehicles, shares and other investments
What you owe; debts including mortgages, investment loans and outstanding credit card balances
Your income and expenses
What insurances you have (eg. Life insurance)
Whether you have an up-to-date Will

How is advice provided

Our advice will be provided to you in a written format known as a Statement of Advice (SoA) also known as a ‘financial plan’. The financial plan is a written summary of the advice.