Retiree

(Age 65+)

At this stage of life you have finished work and finally retired. You should be in a financial position to take those trips you have been wanting to take during your working career but never had the time to and/or spending more time with the grandkids, (albeit having the luxury of giving them back to their mum and dad), enjoying life not worried about money or to think about work .

Issues that may apply to you:

• You need to consider what age pension benefits you are entitled to receive
• Minimise the income test and maximize age pension payments.
• How much you can spend this year on that overseas trip, without impacting on your cashflow to meet your lifestyle expenses.
• Have enough money and health cover to pay for medical expenses?
• Have you addressed your estate planning issues?
• Make sure you understand your investment portfolio assets, that they are in line with your investment risk profile inside and outside superannuation, and to make sure they are performing with the degree of risk you are happy with.
• Age care - how to structure your affairs to have access to the care that you require.

A well thought out and executed plan in retirement is important, but as legislation and rules are constantly changing, so is monitoring your situation and adapting to the changes.

To generate a competitive income stream, save on tax, conserve capital and access the most from social security benefits, give Questst FP a call today.