Living the ‘good life’ now doesn’t guarantee the same lifestyle during retirement. To maintain your current lifestyle, you need to plan ahead.

Life doesn’t magically become easy and carefree when you hit retirement. To retire in style, you need to develop a strategic plan and, most importantly, stick to it.

Once you retire, your income stream is gone. All you have to live off is your super and Aged Pension if you meet the criteria. If you’re going through money to live the good life today without saving for your future, then a comfortable retirement will likely be unachievable.

Centaur Financial Services can help you create a retirement plan that meets your individual needs and goals. We have a team of experienced financial advisors who can help you assess your financial situation, develop a retirement plan, and make sure you are on track to reach your goals.

Contact us today to learn how we can help you retire in style.

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retirement planning gold coast

Essential Questions You Need to Ask

Retirement planning is an essential part of ensuring you have enough money to enjoy a comfortable lifestyle in your golden years.

There are a number of essential questions you need to ask yourself when planning for retirement. By answering these questions, you can develop a retirement plan that meets your individual needs and goals.

To retire in style, you need to be realistic about how much money toy need to do just that.

The ASFA Retirement Standard benchmarks the annual budget Australians need to fund a comfortable or modest retirement lifestyle.

A comfortable retirement lifestyle includes enjoying leisure and recreational activities and being able to afford luxuries such as travel – domestic and international, health insurance, a decent car, electronic equipment, household goods, clothes etc.

A modest retirement lifestyle is considered better than the Age Pension, but still only able to afford fairly basic activities.

Based on the ASFA’s categorisation of a comfortable or modest living standard, a comfortable retirement lifestyle would be necessary to retire in style.

The ASFA Retirement Standard found the benchmark annual budget to live a comfortable lifestyle is $50,004 per single and $70,482 per couple for those around 65 and slightly less for those around 85.

Do you have the savings to support your retirement?

Knowing what you want to do in retirement is a critical step in planning the retirement lifestyle you desire.

Your idea of retiring in style may differ from others, so do a stocktake of your current lifestyle to determine what you want to continue enjoying in retirement. Also, consider what you plan to do in retirement. Do you plan to renovate your house, travel overseas, buy a motor home, or move to the country? Decisions such as these will significantly impact the amount of money you’ll need to retire in style.

There is no exact way to know how much money you’ll need in retirement, but the ASFA Retirement Standard mentioned above is a good benchmark.

Plan to Retire In Style Today

As retirement planning specialists, Centaur Financial Services’ financial advisors can help you determine how much you may need in retirement and develop a retirement plan that puts you on track to reach your retirement goals. Whether you live on the Gold Coast, Brisbane, Sydney, or Melbourne, we can help!

Contact a professional financial advisor at Centaur Financial Services to start planning your retirement today.

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