Retirement planning

Case study: Retirement planning

Transiting to retirement

George and Deirdre were 68 and 63 respectively when they approached StrategyOne Advice Network to ensure their transition to retirement would be as smooth as possible. Neither were working full-time but maintained part-time directorships. They had a self-managed super fund as well as other investments.

Paying less tax, maximising super, managing cash flow

Like many semi-retirees, George and Deirdre were having trouble managing their cash flow while maximising their superannuation. They needed to build their super fund while earning and living off less money than ever before.

We advised them to shut down their self-managed super fund and roll the funds into a wrap account to simplify and minimise paperwork and reduce accountancy fees. We also advised them to open a transition to retirement account and draw a pension from this, which is tax-free. Both George and Deirdre salary sacrificed their director’s fees to the maximum amount possible and channelled these funds into superannuation, thereby reducing their tax liability while building up further super funds.

Investing towards retirement

George and Deirdre contributed as much of their own money into super as they could afford and rearranged their investments so they could access funds in five year’s time when they are planning a big overseas trip.

After speaking with us, they have a much clearer idea of the cash flow they can expect and are confident that they’ve arranged things to accommodate any future expenses. Their tax liabilities have been minimised while they spend the last years of semi-employment further amassing super funds.

When they are ready to move into full retirement, they will rest easy knowing that they’ve done everything in their power to enjoy the fruits of their working years.

Call StrategyOne today to arrange your obligation-free meeting: 02 9419 5233.

StrategyOne Advice Network is an authorised representative of Fitpatricks Prviate Weatlh Pty Ltd, AFSL No. 247429, ABN 33 093 667 595 (“Fitzpatricks”).

This information is of general nature only and is not intended as a personal advice. It does not take into account your particular investment objectives, financial situation and needs. Before making a financial decision you should assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. We recommend you consult a professional financial planner who will assist you.

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