The catalysts that drive pre-retirees to seek financial planning advice
Entering the pre-retirement phase can be both exciting and daunting. It's a time when you start contemplating the financial aspects of your future, and various triggers can ignite the motivation to seek the guidance of a financial planner. In this blog, we'll explore some of these triggers and how they can set you on the path to a more secure and prosperous retirement.
1. Inheritances:
Receiving an inheritance is often a significant turning point. Whether it's a substantial sum of money, property, or assets, inheritances can raise questions about how to best manage and invest these newfound resources for both immediate and long-term financial goals. There can also be tax implications that require forward planning.
2. Significant Global Events:
Major global events, such as economic crises or pandemics, can shake financial stability and prompt individuals to reassess their retirement plans. These events highlight the importance of diversifying investments and having a solid financial strategy in place.
3. Turning 50, and 60.
Reaching the age of 50 is a milestone that often triggers introspection. Many people start to take retirement planning more seriously as they approach this age, recognising that time is becoming a more limited resource for building a retirement nest egg. Reaching age 60 can also have some implications when it comes to your superannuation so it is important to plan ahead as this can lead to significant tax savings in some cases.
4. Career Changes:
Changing careers or transitioning to part-time work as retirement approaches can lead to fluctuations in income. Pre-retirees may seek a financial planner to help navigate this shift and ensure their financial resources align with their evolving lifestyle.
5. Housing Changes:
Whether upgrading to a dream home or downsizing to a smaller space, housing decisions can significantly impact retirement savings. Financial planners can assist in making informed choices about real estate investments to align with retirement goals.
6. Recommendations from Peers:
Hearing about a friend or family member's positive experience with a financial advisor can serve as a powerful motivator. Personal success stories can inspire pre-retirees to seek out professional guidance for their own financial journey.
Whether it’s one or many of these triggers in your life, it can serve as wake-up calls for you when entering pre-retirement, urging you to take proactive steps towards securing your financial future. Seeking the expertise of a financial adviser can transform these triggers into opportunities for a more confident and financially stable retirement.
If you've experienced any of these catalysts in your life, consider reaching out to us, we specialise in pre-retiree planning to help you navigate the intricate path to your dream retirement.
[This information is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider the Product Disclosure Statement.]