Retirement Planning

Thorough retirement planning and successful execution of that planning helps facilitate an enjoyable retirement.

At Chris Humphrey Private Wealth Management we encourage clients to plan retirement well in advance and note the ability to retire is often a more common goal than retirement itself.

We split our retirement planning into pre-retirement and post-retirement.

Pre-Retirement Planning

To achieve optimal retirement income and investment risk for you and your family we:

• Develop a financial plan (roadmap) that is revisited year after year until retirement commences.
• Keep abreast of legislation changes to ensure utilisation of every possible strategy.
• Taper off personal insurance, as you get closer to your desired level of retirement funds.
• Potentially change your level of investment borrowings as you get closer to retirement.
• Plan a possible transition of investment assets over to higher income yielding assets.
• Utilise a Pre-Retirement strategy.

Pre-Retirement strategies include:

• Spouse superannuation contributions splitting.
• Transition to Retirement Pensions.
• Superannuation salary sacrificing even at the expense of using current savings or temporary borrowings to live.

Post-Retirement Planning

Especially as we retire earlier and live longer, post-retirement planning is paramount. To achieve optimal retirement income we:

• Keep abreast of legislation changes to ensure utilisation of every possible strategy.
• Monitor expected retirement livings costs.
• Structure assets to minimise tax and maximise retirement income.
• Consider preserving superannuation retirement funds in accumulation phase rather than pension phase particularly if holding non-income producing assets such as gold, artwork, land etc. Some of the noted investments can only be held in self managed superannuation funds (SMSFs)
• Consider unique investment strategies that exist for over 60 year olds whose retirement assets are housed in superannuation.
• Tailor estate planning requirements.

For more information please see our retiree offerings.

Retirement and Estate Planning

Retirement planning and estate planning for couples are interlinked. That is because it is rare that both members of a couple die at the same time and as such retirement funds are most often passed from the deceased to the surviving spouse.

We specialise in maximising the amount of your superannuation that passes to your spouse and family upon your death. In some cases we engineer superannuation death payouts higher than the member's superannuation balance. Please see anti-detriment.

Retirement Planning and Superannuation

Superannuation is generally the best investment vehicle for retirement funds. It is particularly good for tax but can be poor for estate planning purposes.