Financial Planning in your 50's

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Your 50's often represent a period with the potential to build significant wealth. You may now have less costs and a greater savings potential as your mortgage reduces or ends and your children become adults and schooling fees reduce.  
 

However, it is also a decade where it is imperative you capitalise on your position in the lead up to retirement! We often assist clients in their 50's with:
 

• Creating cashflow and investment plans for their surplus cashflow when mortgages and school fees begin to reduce or finish. 
   

• Creating retirement plans which analyse when you can retire and how much you can afford in the future. Many clients want to know if they can retire early, before super access age of 60.
   

• Ensure your superannuation remains right for you. As your super balance grows you need to navigate cap limits on contributions and ultimately the pension transfer cap. Many clients also now have adequate super balances to set up SMSFs, and we help explain the pros and cons of whether they should. 
   

• Assessing whether you still require life insurances given your wealth position as many clients can now begin to 'self-insure' and avoid the insurance premiums that escalate with age. 
   

• Exploring your goals and objectives for the next phase of life and assess their feasibility. It might mean travel, downsizing, or helping adult children get started: the story is yours.