There is no specific age or date an individual or couple should begin to plan for their retirement, but it is generally considered the earlier the better. Many people begin planning for their retirement once their children have reached adulthood, as they no longer have financial obligations such as paying for their children's education.
How to start planning for your retirement
It can seem incredibly overwhelming to begin considering your retirement, but it doesn’t have to be. First, establish an accurate picture of your finances, such as your income and any large, long-term outgoing expenses you have. Next, think about what you would like your retirement to look like, for example, what age would you like to stop working and where you may like your permanent residence to be once you have retired. From here, you will have a better idea of the investments, strategies and targets you need to achieve to ensure you have the retirement you want.
Why work with a retirement planning advisor?
There are many benefits to working with a financial retirement expert, including…
Diversification
A financial expert will help you diversify your investment portfolio, so should there be an unexpected fall in some of your investments (such as a property market crash), your diverse portfolio will provide you with the financial stability you need to guarantee a comfortable retirement.
Goals
If you are currently working, you may not have the time or knowledge to achieve your investment and retirement goals. An industry expert will be able to dedicate the time and attention your portfolio needs to ensure all of your retirement goals are met.
Returns
Should you choose to trust a financial expert with your retirement investments, you will be able to maximise any potential returns and live a more comfortable and enjoyable life in your retirement than you could have ever thought possible.
Contact Top 10 Financial Planner
If you are looking for a financial expert to help you plan for your retirement, Top 10 Financial Planner can connect you with the financial advice and planners you need. Get in touch with us today to learn more.