Retirement is a time for you to relax and do the things you have always wanted. Planning ahead can help you maximise opportunities to achieve financial security, reduce uncertainty and enjoy your retirement.
Important considerations
- How much money will you need?
- Will you need a regular income? Where will it come from?
- When can you retire?
- How and when you can access your superannuation
- Will you be eligible for any Government support?
Options to help fund your retirement
- Cash in your superannuation and receive the funds as a lump sum
- Purchase an income stream product to give you a regular income
- A combination of both
Regular income in retirement
Allocated Pensions provide a flexible, regular and tax effective income stream. Payments can be adjusted within maximum and minimum limits set by the Government. Any capital remaining upon death is distributed to your estate or dependants.
Annuities are lump sum investments that provide a regular guaranteed income for a specified period. The income will depend on the initial investment, frequency of payments and the prevailing interest rate. The income you receive is generally set at the time of investment and will not change.
The right advice
A Bridges financial planner can assess your needs, explain suitable investments and develop appropriate strategies.
1. This is general advice only and does not take into account your objectives, financial situation and needs. Before acting on this advice, you should consult a financial planner.
2. Bridges Financial Services Pty Limited trading as Bridges Personal Investment Services (Bridges). Bridges holds an Australian Financial Services Licence No.240837 issued by the Australian Securities and Investments Commission (ASIC), is an ASX Participant and a Principal Member of the Financial Planning Association of Australia.
3. In referring Members to Bridges, Gateway Credit Union does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.
4. Gateway Credit Union may receive commissions from Bridges, for referring Members who invest through Bridges. See Gateway’s Financial Services Guide.