Spending Super with Confidence: The Role of Financial Advice in Retirement
A recent article from the ABC titled Australians need government help to spend super, argues the Grattan Institute1 highlights the challenges many retirees face in managing their superannuation effectively. The report emphasises that without structured guidance, many Australians risk depleting their funds too quickly or underspending, leaving them unable to fully enjoy their retirement.
Key Findings from the Article
The Grattan Institute suggests that:
Retirees often find it difficult to balance spending and saving due to uncertainties about how long their savings need to last.
Many retirees underspend, leaving significant amounts of super unused, often due to fears of running out of money.
Government-led initiatives, such as default income streams or annuities, could provide retirees with more confidence and structure for managing their savings.
While these insights underline the challenges retirees face, the role of a financial adviser becomes even more critical in bridging these gaps and providing tailored solutions.
How Working with a Financial Adviser Makes the Difference
At Your Vision Financial Solutions, we understand that managing superannuation during retirement is a complex and ongoing process. Here’s how we help our clients spend with confidence, ensuring their financial security and peace of mind:
1. Spending with Confidence Through Projections
We provide detailed projections to show how long your funds are likely to last based on your current spending, market conditions, and expected returns. These projections are regularly updated to ensure they remain relevant, allowing you to enjoy your retirement without constant financial worry.
2. Adapting to Market Changes
Market downturns can be unsettling, but our role is to help you navigate these challenges by:
Adjusting spending plans during significant market corrections.
Focusing on things we can control, such as asset allocation, tax planning, postponing big expenses and avoiding selling assets that have suffered significant market losses.
Managing sequencing risk to minimise the impact of withdrawing funds during volatile periods. There are a range of strategies we can implement here but the key is to do this before markets go down so that you have flexibility and control to better manage your assets in times of significant market downturn. The sooner you get advice the better and an ongoing advice relationship is crucial.
3. Encouraging a Balanced Approach
One of the biggest concerns for retirees is striking the right balance between enjoying their savings and preserving enough for later years. We help clients create sustainable spending strategies that allow for both present enjoyment and long-term security. Our clients usually have more confidence to spend more and worry less about money with our assistance.
4. Tailored Solutions Beyond One-Size-Fits-All
Unlike general government policies or default options, our approach is highly personalised. We consider your unique goals, preferences, and lifestyle to develop a plan that truly works for you.
Why This Matters
While government initiatives may provide a baseline solution, the value of working with a trusted financial adviser lies in receiving ongoing guidance, personalised strategies, and the confidence to make the most of your retirement. Our clients benefit from the peace of mind that comes with knowing their financial future is in expert hands.
Your Vision Financial Solutions Pty Ltd ABN 64 650 296 478 and its Advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. This article has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this article you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.
References
1 Australian Broadcasting Corporation. (2025). Australians need government help to spend super, argues the Grattan Institute. Retrieved from https://www.abc.net.au/news/2025-01-19/government-annuities-superannuation-spending-grattan/104830170