Expert Retirement Planning Advice for Australians
It's never too early to start preparing for your retirement. Ensuring you can live out retirement on your terms takes careful planning. Get financial planner advice that will help you to achieve this by learning more about the lifestyle you want to maintain and mapping out a strategy to optimise your assets and make this a reality.
How to Start Planning for Retirement Today
Are you in the process of planning for your life after retirement? Check out this retirement planning checklist and learn how you can get started:
1. Start your retirement plan.
The first step in the transition to retirement can feel intimidating. So how do you start your retirement plan? The journey to a secure retirement starts with a well-structured plan tailored to your unique goals. This is your opportunity to spend some time establishing clear and achievable goals. What do you want your retirement to look like? How will you spend your days in this phase of your life? What are your 'nice to haves' and what are your 'non-negotiables'? Defining these objectives provides the foundation upon which your entire retirement plan will be built.
2. Consider your current lifestyle and priorities.
Now you've started planning, ask how this new lifestyle compares with things right now? Comparing your desired retirement lifestyle and financial needs against your current situation is a healthy way to understand any required changes in your priorities. This will help you to be better prepared and confirm that your retirement ambitions are realistic.
3. Get clear on your expenses.
Confidence in retirement comes from the knowledge that you have enough money to comfortably fund all expenses - both now and in the future. If you haven't already, compile a budget which determines your expenses. Be exhaustive in this process - as we are likely modelling these expenses fo many years and small inaccuracies now will create loarge inaccuracies over your retirement lifetime. If you'd like a copy of the comprehensive budget planner we offer to our members, click here (link needed).Once you've confirmed your expenses today, start adjusting these numbers in line with your retirement plan. Perhaps you need to add a higher figure in the travel section, or reduce your public transport budget now you won't be commuting to the office each day?
4. Work out your retirement income and living costs.
To ensure a stable retirement income, calculate your anticipated retirement income options precisely, taking into account all potential sources including rental income, dividends, pension or interest payments. Pay particular attention to whether your expected income is sufficient to meet the retirement expenses you've just calculated.
5. Grow your income.
If your income does not match up with your ongoing expenses, we need to assess whether your retirement assets including superannuation are optimally set up to support this need. It can be beneficial to get financial advice here, but if going solo, examine all strategies available and carefully select those that best suit your financial goals to enhance your regular income and reinforce your overall financial stability for the future.
6. Pay off your debt.
Retirement debt is a drain on the income you've worked so hard to establish. Effectively managing and reducing your debts is essential for a stress-free retirement. It can be hard to know whether to clear or maintain debt as a retiree - especially when that debt relates to an income producing asset such as an investment property. Our advice will help you navigate this process, ensuring financial security during your retirement years.
7. Make an estate plan.
Secure your legacy by creating a comprehensive estate plan that ensures your assets are distributed according to your wishes, and meeting all legal requirements. This process can have the added benefit of simplifying a difficult process for your spouse or beneficiaries, at a time where they are mourning.
Looking for More Information on Investing?
Check out our Eight Investment Pillars for a more in-depth knowledge of our investment process.
Get comprehensive financial advice from trusted financial advisors
Seeking personal financial advice from trusted advisors is vital. We offer personalised strategies, navigate complex financial landscapes for clients, and ensure your financial security, providing peace of mind in an ever-changing world.
Paying for personal financial advice with your super
Paying for an adviser or personal financial advice with your super is possible through a process called fee-for-service. This means you can access and pay for advice on managing your superannuation by using your super fund account balance. Our advisers at Northeast Wealth can help you navigate this process within the framework of Australian superannuation regulations.
Why Northeast Wealth?
For several years, we've helped countless Australians move in the right direction with their finances. From investment planning to protecting your retirement fund, Northeast Wealth takes the time to get to know you and your goals, so we can ensure you achieve financial success.
Fee for Service
We're fully committed to your success. Our dedication means we're fully invested in helping you accomplish the significant financial goals you've established for yourself.
Designed for You
We are experienced at studying your financial life and making sure all government benefits and your hard-earned dollars go to work for you and your family.
Stay in Control
It's your journey. We won't bark orders – we listen to what you're looking to achieve and then make intelligent recommendations to help you get there.
What We Do
What our clients say
Northeast Wealth has been knowledgeable and efficient to deal with at all times. I have found everyone in the organisation to be patient and prompt when answering my questions. They have helped me to gain confidence and feel supported when navigating my new financial situation and they have set me on a strong financial path. Highly recommended.
Northeast Wealth are terrific to deal with. Their level of care and professionalism is outstanding, and their financial advice is exceptional. The whole team are genuine experts in what they do — highly recommend.
The entire team are amazing. They get back to me quickly and help me navigate the confusing area of personal finance. Mariana has saved me so much money and I can now retire soon!
I have been a client of James for nearly three years. From the very beginning James took a vested interest in my personal goals and how investing my portfolio would impact these. I have always been encouraged by James to have a say and put my opinion forward in regard to the type of investments and outcomes I would like to achieve. I have been happy with the resulted growth and progress of my portfolio during this time. James is a wealth of information and I have great confidence in the ability of James and North East to continue to manage and grow my portfolio moving forward.
For those that have dealt with James and the NorthEast team this 5 star rating shouldn't come as any surprise. We have been working with James for about 12 months now and we must commend him and the team for their professionalism and insights into delivering against our goals to improve our financial situation. It's been great to see a dynamic shift in they way we view our money and how we can still maintain a certain lifestyle but with a more structured approach. We recommend James and Northeast to anyone that wants to improve their financial position.
We were referred to James from Northeast Wealth by our accounting firm to assist us in getting a handle on our financial set up. Being a self-employed tradesman, and not an expert in things financial, it was very helpful to have someone like James, who is personable and easy to understand, assisting us with setting up our insurances and superannuation funds in the most effective and beneficial way. He also had a team of experts in all required fields, including legal and we were able to ensure that our wills reflect our wishes and are in line with our insurances. We are most appreciative of his work to date and will continue to consult with him over the coming years.
James is a very knowledgeable, patient and we'll well educated advisor. From our first conversation I felt that I was in very capable hands. The advice provided, was detailed specific and well thought out. James took time to clearly outlined the advice and the risk and benefits involved. I would highly recommend Northeast Wealth for your financial management help.
I recently had the pleasure of dealing with Mariana with a first time meeting, I found Mariana to be very professional and knowledgeable and above all extremely honest.
I was uncertain about getting financial advice, but the team were fantastic! Very glad wer took the step of working with these guys - great advice and explained on my level. Wish we had done it sooner.
This team bring a fresh set of ideas to an often stale industry. They are genuinely concerned with looking after the interests of the customer and do so in a transparent and ethical way. Highly recommend!
Had the pleasure of speaking with James this morning, honest trustworthy financial advisors are hard to come by, James is definitely one I would recommend to my friends and family, Thanks again James.
Both James and Julia have been fantastic to work with. They’ve provided invaluable assistance and advice and have been very professional, reliable and thorough. Thank you!
The team at Northeast Wealth were professional, met all my needs and made what I thought was going to be a complicated process simple for me to understand.
James has been available at all times to take our calls. He has been thorough in his evaluations placed in front of him, often with little or no notice. He has offered his advice always in a polite, caring and very professional manner. We can unreservedly recommend his services to those requiring the complete financial package advice.
James at Northeast Wealth is a breath of fresh air in the financial planning industry, particularly in terms of his transparency and integrity. The way he delivers Northeast's services is innovative, educational and a very positive experience. There are few people I've met that are as genuine and passionate about each and every one of their clients succeeding as James. It is very motivating. Highly recommend.
My experiences with James and the team at Northeast Wealth have been incredible. My fiance and I have been able to realign all of our financial goals, and achieve incredible results in a timeframe we didn't think was possible. James was able to see what we wanted to achieve, and knew how to get us there. I would highly recommend to anyone wanting superior service, a genuine relationship with their advisor and tangible results.
I'm super impressed by the team at Northeast Wealth. They are so thorough, thoughtful, and clever. Most importantly, they get results! I really appreciate their detailed and tailored plans to meet the individual needs of their clients.
Marianna and the North East team have been wonderful to work with. They keep us accountable and have assisted us to set clear achievable long/medium/short term goals. They've also set us up on their banking program which has improved our financial management and helped us to capture additional savings, including providing quality superannuation advice. We would definitely recommend North East's services!
Northeast Wealth and the team are amazing! Their knowledge and strategies ensure that we are getting the most out of our money. Knowing that Mariana and her team are always contactable to discuss our financial decisions is not only comforting, but very helpful in those big decision times. I fully recommended contacting them to discuss your financial needs ... and do it earlier rather than later so that you get the maximum effect of compounding over time!
Start your journey with us today
Get your finances back on track, get to where you want to be and make the most of the journey along the way. Book a chat with Northeast Wealth today and discover how rewarding financial planning can be with the right help.
Frequently Asked Questions (FAQ)
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