So you made it!
After years of working hard and contributing to your super, you can now enjoy an active retirement and choose how to spend your time and retirement savings. Whether you’ve been dreaming of time with family, travelling, gardening, volunteering, reading, exercising or learning new interets, now is your chance!
What are your retirement goals?
Think about what you would like to achieve in retirement and set some goals – remember that a goal without a plan is just a dream.
Write down some goals for the short (2 years), medium (5 years) and long term.
Ask yourself questions like where do you want to live, what sort of home do you want, do you want to travel (and where to), how often do you want to eat out, and what activities would you like to do regularly (e.g. golf, gardening, theatre, airshows, tinkering with engines).
Continue managing your retirement savings
When young, we may think of super and saving for retirement as something that applies only until the day we retire. The reality is that retirement can last twenty or more years so most of us still want our money to work for us – and our families.
As you use some of your savings, get older, change expenses (maybe the kids really will move out!) and adjust your plans, your income needs will also change. Our retirement guide offers you some ideas on making the most of your super in retirement.
What you leave behind
Nobody’s favourite topic, but we all know death and taxes are inevitable so it’s better we decide things now than have someone else decide for us later on.
It’s your choice who gets your super, your major financial assets (like a house or investments) and your sentimental assets (like that Grandfather clock that actually belonged to your grandfather or your wedding ring).
Writing wills, nominating beneficiaries, assigning legal and medical Power of Attorney, and transferring guardianship are important ways to express your choices – and reduce stress and hassles for your loved ones later on, too.
Review your retirement savings
If you have an AvSuper Income Stream, why not chat to us about each year or so to check everything is running to plan? Our annual super health checks can ensure you have money available when you need it whilst maximising the returns on your money for your circumstances.
Drawdown amounts, investment choices and re-balancing your money are all topics we can discuss with you as part of your health check.