Are you get­ting the finest fi­nan­cial plan­ning ad­vice?

The Weekend Australian - Review - - Books -

A re­cent Com­mon­wealth Bank sur­vey shows that just 53% of Aus­tralians 45 years and over have thought about how much money they’ll need for re­tire­ment and have a plan to reach that fi­nan­cial goal. How ready are you for re­tire­ment? With the mar­ket still reel­ing from re­cent eco­nomic tur­moil, it is now even more im­por­tant to en­sure that your fi­nances are in good shape and that you are get­ting the best ad­vice. Proper plan­ning now can help to en­sure you achieve the qual­ity of life you want when you even­tu­ally re­tire – en­able you to travel, take up a new hobby, work part- time and gen­er­ally start en­joy­ing the fruits of your labour. A Com­mon­wealth Fi­nan­cial Plan­ner can help you de­ter­mine your goals for re­tire­ment and work with you to de­velop a strat­egy to help you get there. Plan for your fu­ture Jane and Pat Con­nelly de­cided to seek qual­ity fi­nan­cial ad­vice for the next chap­ter in their lives when the last of their chil­dren left the fam­ily nest. They felt that they weren’t in con­trol of their re­tire­ment fi­nances, and were over­whelmed with the amount of in­for­ma­tion avail­able and de­ci­sion- mak­ing in­volved. The Con­nellys met with Michelle Cassidy, a Com­mon­wealth Fi­nan­cial Plan­ner, who guided them through the ins and outs of su­per­an­nu­a­tion and helped them set goals for their re­tire­ment. Jane said, “ Michelle told us that if we de­layed re­tir­ing un­til we hit 60 years of age, we would be able to make tax- free with­drawals on our su­per­an­nu­a­tion. “ An­other re­ally valu­able piece of in­for­ma­tion Michelle gave us was how to di­ver­sify our in­vest­ments. She ex­plained that by spread­ing our money across dif­fer­ent types of in­vest­ments, we could lower our in­vest­ment risk and be able to gen­er­ate in­come from a num­ber of sources.” To­day, thanks to Michelle’s ex­per­tise and in­sight, the Con­nellys have been able to prop­erly pre­pare for re­tire­ment and feel much more con­fi­dent about the next chap­ter of their lives. Like the Con­nellys, di­ver­si­fy­ing your in­vest­ments can be a good re­tire­ment sav­ings strat­egy. How­ever, it’s im­por­tant to work with a fi­nan­cial plan­ner to de­ter­mine the strat­egy that best suits you. The higher the di­ver­si­fi­ca­tion the lower the risk, but this can also lower your po­ten­tial re­turns. A fi­nan­cial plan­ner will work with you to de­ter­mine the most ef­fec­tive level of di­ver­si­fi­ca­tion for your sit­u­a­tion.

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