Prepare for retirement

Financial Planning

Prepare for retirement

Almost ready to sail off into retirement? There’s never been a better time to review your affairs and ensure you’re headed in the right direction.

You’ve put in the work, now Guild Financial Planners can help you to cash in. We’ll help you with effective exit strategy and reduce tax on the sale of business and personal assets. You can make an informed decision about how long you’ll work, and plan your transition to retirement.

There’s plenty to look forward to in retirement, Guild Financial Planning will help you enjoy the lifestyle you want.

Solutions and Services

Prepare for retirement

If you are downsizing or have money to invest you may profit from advice about the following:

We can help you:	How it may benefit you:
Self managed super fund strategies	Self managed super funds give you continued control over your assets and tax-effectively pay an income to you in retirement.
Ensure your investments are appropriately invested for your new life stage	Checking your investments are appropriate for you as your life changes can avoid unnecessary investment risk.
Turn your super into a tax effective income stream	Tax effective retirement income streams can help you increase your income, reduce income tax and manage the preservation of your retirement capital.
Pass your assets to your dependants	Using trust structures and being prepared to pass on your assets can lessen the future tax burdens to your family.

The process

When developing your personalised strategy, our professional planners use a six-step process to work out where you are now, what you might need in the future, and what you must do to reach your goals. The process includes gathering relevant financial information, setting life goals, examining your current financial situation, and developing a strategy or plan to assist in achieving your objectives.

How much will it cost?

Different people have different needs and our fee structure is tailored towards those needs. Our planners discuss the fee for their service openly with you and they are structured in the following way:

To work or not to work?

John is 55, working full time and is planning his retirement. He would like to know whether he can stop working in part or altogether, and the timeframes involved.

The Guild Financial Planner undertakes a review to explore the following options available to him in retirement.

Completely retire from work.
Work part time (approximately 3 days per week) from now until age 65 on a salary of $30,000 per annum and implement a transition to retirement strategy.
Keep working on a full time basis until age 65 with:

a. No transition to retirement strategy.

b. A transition to retirement strategy and partial salary sacrifice.

c. A transition to retirement strategy and salary sacrifice of 100%.

In terms of income, John can take home almost as much working part time over the next ten years as he can working full time. Of course his superannuation balance at age 65 will be greater if he chooses to work full time and even greater still if he chooses to work full time and salary sacrifice.

John’s choice will clearly depend on his lifestyle goals. Does he want more time to embark on personal projects and to relax or is a greater super balance in later years more attractive?

The Guild Financial Planner calculated the financial effects of the different choices enabling him to better make the right decision.

Financial Planning