Retiring involves several risks that are unique to this period of your life. As a retiree, consider all risks when planning for this momentous stage. The risk factors during retirement are not limited to an economic standpoint alone. You must also be mindful of the health risks you face, and have your affairs in order so that your family isn’t burdened as you age.
The most common financial risks that retirees face include the following:
Leading up to retirement, you can’t help but wonder what is the biggest expense for retirees. When you retire, you would expect your expenditures to drastically decrease, in fact, that is the general consensus on what should happen. You may cut some work-related costs such as clothing and transportation. However, this is not necessarily a forgone conclusion, without proper planning. The reason for this is other necessities, such as medical bills or travel expenses for leisure activities, come into the picture. In this article, we will talk about the biggest expenses for retirees and what you can do about them.
You are entering the next chapter of your life and retiring and you’re asking yourself the question, what is a good monthly retirement income? It’s your goal to ensure that you will get to live comfortably and you will get to sustain the lifestyle that you desire. Many factors may affect it, but your first and foremost concern is gaining a good monthly retirement income. Answering this question requires careful planning and research, but it is well worth it so that you can enjoy a relaxed and secure retirement. In this article, we will talk about what we consider a good monthly retirement income.
If you’re asking yourself the question, how much do I need to retire in Australia, then this article is for you. Taking proactive steps will enable you to rest assured that you can afford a comfortable retirement. It is beneficial to weigh up how much you need to retire comfortably against your expectations of the retirement lifestyle you have always dreamt of. This article will discuss how much you need to retire in Australia and what steps you should take for great retirement planning.
What Are The Biggest Financial Mistakes That Retirees Make? Retirement is a transition that we cannot avoid, and all of us will eventually have to face it. When approaching retirement, it is essential to be mindful of any financial mistakes that could derail our plans. The consequences of making a financial mistake can be more severe than when you are still earning money and in your prime. Unless you have started early and built up significant assets, you may need to be more realistic in your lifestyle expectations and take steps to minimize the chance of getting caught up in the common pitfalls that lay in waiting for the unsuspecting retiree trying to “catch up”. In this article, we will talk about the biggest financial mistakes that retirees make and what can be done to avoid them.
How Long Will My Money Last When I Retire? Answering this question is a crucial element of planning. It is vital to comprehend the duration you can depend on your money to ensure you can manage when the time comes. This article will discuss how long your money will last when you retire and how to make it last longer.
As we rapidly approach yet another end of financial year it may be timely for you to consider a little financial “housekeeping”. We have therefore listed a few important considerations depending on your own circumstances.
Superannuation
Firstly, for many individuals Superannuation is often an important consideration at this time of year. So, let’s look at some of the important issues remembering that this may not be relevant to your personal circumstances so it’s very important that you talk to your adviser to determine if they are relevant to you.
Western Australia is heading for a turnaround.
This is the consensus from the expert panel (REIWA, CBRE, Herron Todd White & Resolve Finance) at a presentation to MFAA members on Wednesday.
Why? Due to these indicators;
• A turnaround in population growth – slow but steady
• Unemployment rates decreasing (blue line on graph below)
• New Infrastructure (train lines, road improvements)
• Mining sector turn around – new mines creating new jobs
• Migration decreasing as new jobs created in WA
• Shopping centres – redevelopment & new centres (Mandurah Forum, Belmont Forum, new centre linked to the airport, and Madora Bay).
1. Overall, how satisfied were you with my services?
Excellent
2. On a scale of 1 to 5 (1 being very poor, 5 being exceptional), how would you rank your overall experience with me?
5
3. What elements of the service I provided most impressed you?
Great communicator who explained each step of the process very well.
4. Are there any improvements to my service I could make?
Understanding of your needs: Excellent
Knowledge and explanation of products: Excellent
Courtesy and friendliness: Excellent
Communication (i.e. keeping you up to date): Excellent
Quality of service: Excellent
As mortgage brokers, one of the most common questions we are asked is: “How can I reduce mortgage payments?”
So we sat down and distilled what we do into this guide, “10 ways to reduce mortgage repayments“.
Your mortgage consists of:
The interest on a mortgage is substantial because you are borrowing over such long periods of time.
For example a standard variable 25 year loan of $350,000 at 6.25% interest would cost $692,652.85 – with nearly half the total cost being interest.
