Your 40’s and 50’s are important years for making good financial decisions. While you are most likely earning a good income and enjoying your current lifestyle, have you thought about how you can continue that lifestyle in retirement, when you are no longer earning an employment income? Let’s face it, retirement isn’t that far away.
Could your retirement plans be derailed by unexpected events in the lives of your offspring or grandchildren?
If you are a pre-retiree or retiree, could you afford to financially support your adult children and/or your grandchildren if they faced serious injury, illness or worse? How would your income stream be affected and what would be the long-term ramifications for your retirement lifestyle? Here, we outline some important considerations for protecting your retirement and the wellbeing of those you love.
Safeguarding your income
Imagine how different you and your family’s life would be without your income. Home and car loan repayments, day-to-day household expenses, children’s school fees and the occasional treat or trip are just some of the expenditure that depends on your ability to earn an income. This asset should not be taken for granted. Here, we collate our top three benefits of securing income protection TODAY.
Will your wealth outlive you?
Protecting the fate of your finances goes well beyond your Will. Whilst your Will covers personal assets, it does not include your superannuation, life insurance and assets held in Trusts or Companies. Failure to plan for the fate of these finances could see those you love facing unnecessary costs, complications and confusions. Here, we reveal 5 key considerations for planning your Estate.