Life Stages

In Your 50's

Planning for retirement - If you haven’t started your retirement planning yet, then now’s the time put one in action.

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Life Stages

In Your 50's

Planning for retirement - If you haven’t started your retirement planning yet, then now’s the time put one in action.

Many of your larger expenses like your mortgage either are or soon will be behind you, so it’s essential to redirect those funds toward diversified asset. Keep in mind that you’re entering a phase where market volatility is far less beneficial than guaranteed income.And remember, since you’re in your peak earning years, you should maximize your super by making sure you are contributing up to the maximum allowed.

You’ll Also Want To Put Each Of The Following On A Checklist

  • Look out for Number One: No more distractions. Your retirement plan has to be your first priority now.
  • Be Calculated: Estimate living expenses and determine what your accounts will be worth when you retire. Contact us at ASCOT Wealth Management to give assist you in deriving a more accurate number.
  • Consolidate: If you have worked for several employers over the years and have accumulated a number of super plans and if you have not already done so, consolidating them. It can make managing your portfolio simpler and easier.
  • Make it an obsession: It’s important to pay close and frequent attention to your financial plans. Be sure to review them yearly. At this stage, your plans need constant attention if you are to meet your objectives.
  • Make re-assessments: Re-assess the risks and rewards of your various investments. Make sure you are looking at you’re asset allocation in order assess whether or not it needs re-balancing.

Retirement can signify a lot of things to a lot of people and you'll need to create a nest egg that will make your retirement years as comfortable, if not more, as when you were working.

It's never too early to think about saving for your golden years. As the average life expectancies increase you should look to put away more in order to accommodate for a potentially longer retirement.

Life Stages

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