Better plans can make for better outcomes

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Looking forward

‘Life after work’ is how we think of retirement today, a point in life when you have the time to make the most of travel, recreational activities, family and friends. While the possibilities are endless, funding your ‘life after work’ may prove more challenging if you don’t plan ahead.

Timing is everything

Like most things in life, timely planning can reduce your stress level and ensure you don’t leave critical decisions too late or let opportunities pass you by. A better plan can result in a significantly better outcome when you’re looking to fund over 20 years of ‘life after work’.

Start with your destination in mind

Before you start to think about how much money you’ll need it’s important to form an idea of how you want your ‘life after work’ to look.  Setting goals and outlining priorities is a good starting point.  Do you want to travel overseas? If so, how often? How regularly do you want to update your car?  Will you stay on in the family home or look to downsize? Are there any expensive hobbies or memberships you want to keep up or take up?

Super considerations

For the majority of people, concessional tax rates make super a great way to accumulate retirement savings. To optimise your super and maximise any tax benefits, your plan may consider investment selection strategy, salary sacrifice contributions, personal contributions and super splitting with your spouse.  A financial adviser can show you how optimising your super can significantly improve your outcomes.

The role of financial advice

Navigating through the many options available can feel like an impossible balancing act: optimising super, reducing non-deductible debt, borrowing to invest, developing a transition to retirement strategy, staying within the concessional caps, splitting super with your spouse and accommodating changes in your personal circumstances can get pretty complicated. This is where you can discover the value of working with a licensed, or appropriately authorised financial adviser to develop a robust plan.

Mercer financial advisers are retirement specialists who can help you determine realistic retirement goals and help you set about achieving them over the coming years. They will work with you and your partner on all aspects of your plan to help achieve your desired outcomes.

What it costs

Fee free limited financial advice over the phone is one of the many benefits enjoyed by members of the Mercer Super Trust.  However, detailed retirement planning is more complex and generally requires meeting in person with a financial adviser.

Your initial meeting with a Mercer financial adviser is free and allows you to establish a rapport and discuss the potential benefits of developing your own financial plan. They will outline the costs and explain exactly what you get in return if you proceed to develop and implement a financial plan.

We’re here to help

To discuss your retirement plans with a Mercer financial adviser simply follow the link to our financial advice request form, select ‘Retirement options and strategies’ and we will contact you at your preferred time of day.