Your Retirement Planning Checklist - Part 1
3 Essential Steps to Kickstart Your Retirement Plan
Planning for retirement can seem daunting as well as very far away, but breaking it down into manageable steps makes it easier. Start with these three essential steps:
Timing: Work out when you want to retire. Your health, work options, finances and personal situation all play a role. Are you retiring in twenty years, two to five years, or next year? Having a timeline is the key to shaping your retirement plan.
Lifestyle and Priorities: Prioritise what matters most. Think about your living costs, social life, staying active, and planning for changing health needs or aged care. Discuss your retirement priorities with a partner, colleague, or friend.
Income and Living Costs: Estimate your daily living costs and create a budget. Consider your retirement income sources, including superannuation, Age Pension and any other savings or investments.
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Disclaimer: This information is general in nature and does not take into account your personal financial circumstances, needs or objectives. It does not represent financial product advice. You should always seek independent legal and financial advice before making a decision in relation to a financial product. You should consider your own circumstances, needs and financial objectives before making a decision. Before acting on any information you should consider whether it is appropriate for your situation and seek independent financial advice if necessary.