The aim of a Retirement Plan is to ensure you have enough assets accumulated so their returns are sufficient to fund your retirement and Estate goals. You may choose to continue working past your retirement date, but this should be a choice you make rather than a necessity in order to survive.
Superannuation is an essential part of any retirement plan but it’s not the only part.
In developing a Retirement Plan, the first questions you should ask yourself is when you want to stop working and how much income you will need to live the lifestyle you’d like to live. This will determine what level of assets you need to accumulate. After this point, it’s a matter of assessing your existing assets, considering your cost commitments and what mix of assets you want or need.
One of the keys to successfully accumulating the wealth you’ll need to fund your retirement is structure. As well as providing protection for your hard-earned assets, the correct structure will also manage the impact of taxation on these assets. Taxation has a significant effect on the long term value of your assets so it’s important to get asset structure right.