Maximising your income could mean the difference between Nowra or Norway
The time has finally come to be able to live your life. With so many things to look forward to, the last thing you want to be thinking about is whether you’ll have enough money to live the lifestyle you deserve.
This is not a time to worry about how you will meet all the expenses that you will incur over the coming years, and wonder if you have prepared enough for the future.
You want to enter into retirement knowing that you have enough money to live comfortably and that your hard-earned savings, superannuation and investments will last without having to modify your current lifestyle.
Where will the money for retirement come from?
Your income in retirement is likely to come from a combination of sources such as your superannuation and other investments. Another source of income that may contribute to your income in retirement is the Age Pension.
When planning your retirement income, the team at Morgans Port Macquarie will look at your overall goals and objectives, and recommend customised strategies that will work for your situation.
One of these strategies may be to assess if there are any actions that may be undertaken to increase your Age Pension entitlements.
How we helped Clive and Julia
*Please note: names have been changed in this article for privacy purposes.
Recently, we helped one of our clients restructure their finances slightly to realise a significant increase in their fortnightly pension payments.
Aged 68, Clive* was fully retired. His wife Julia* was 64, and she had decided to stop working so they could share some of the experiences they’d been looking forward to. Clive* had been receiving a small Age Pension of around $30 a fortnight.
After assessing Clive and Julia’s goals and objectives in retirement we were able to recommend a restructure of their finances. This led to Clive’s pension increasing to $390 per fortnight, or $10,140 per annum. There were costs and other considerations due to the restructure, but the clients were over $6,000 better off this year alone due to the strategy.
What our clients are saying
"Morgans have been terrific in listening to what I want do in retirement, and tailoring a relevant well-priced solution to meet my needs. I cannot ask for more than that.”
“Looking forward to a full retirement and financial security with Morgans support”
Let us help you maximise your income in retirement
To talk with one of our Financial Advisers and receive advice on maximising your income and entitlements in retirement, please provide your details below and one of our team will be in touch within 48 hours.
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