Recent research has indicated that a worryingly high 66% of Australians are concerned about their retirement. The study suggests this uncertainty exists despite Australia’s relatively strong super system, with constant political adjustments resulting in this confusion.
However, the study also found that those Australians who have engaged a financial planner are three times more likely to feel confident in their retirement plans.
You may have heard Heidi in our office say “you should start planning your retirement the day you start work” so this relates to all Australians and for those getting closer to retirement, the concerns are much more tangible.
In our experience at AHS Financial, we find most people are seeking assurance, clarity and confidence to move into the next phase of their life. Our clients’ concerns relate to running out of money, whether they can afford to retire, what will happen to their spouse or whether they will be eligible for any Centrelink benefits.
By reducing the confusion and uncertainty, planners are able to assist Australians in formulating a clear path for retirement and instil confidence by allowing them to feel secure in their own retirement plans.
As Andrew in our office says, “you need a whole lot of health, a little bit of wealth and something to do in retirement”. Whilst we can’t assist with something to do, we can help with the wealth which will assist with your health.
If you know anyone who might be concerned about their retirement, please don’t hesitate to get them to give us a call.