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How can we help?

MG Partners offers a wide range of services to assist you in achieving your desired lifestyle in retirement.  We can assist you with specific and tailored advice on:

  • transition-to-retirement strategies
  • tax and contribution strategies
  • cash flow and debt management
  • superannuation and SMSFs
  • SMSF succession planning

How much will I need for a comfortable retirement?

The precise amount that you will need for a comfortable retirement depends heavily on the type of lifestyle you wish to lead.  Will you cut back for a modest retirement, or do you want to live a luxurious lifestyle?  According to ASFA, assuming you own your home, right now the ‘comfortable’ figures stand at $42,861 annually for a single and $58,784 for a couple. ‘Modest’ lifestyle figures drop to $23,662 a year for a single and $34,051 for a couple.

Of course this is merely a guide, and does not take into account your personal situation or wishes for a more luxurious lifestyle.  A financial adviser will be able to help you answer these questions and decipher the suitable amount of savings for your individual circumstances.

What happens if I don’t plan?

Relying on superannuation doesn’t necessarily mean you will be completely set for life after work.  Almost half of the Australian working population feel that their super won’t see them through their entire retirement.  For some, a lack of planning will mean relying on a government pension and compromising the type of lifestyle they wish to lead.  By planning your finances as soon as possible, you can be at peace with the fact that you’ll have adequate funds to last throughout your retirement.

How can I transition into retirement?

Not only should you take the time to consider your financial standing, but also take into account the lifestyle changes that go hand in hand with retirement.  There are many transition strategies such as working part-time, taking long service leave then returning, as well as volunteering your time, which can help you to ease into retirement in a way that best suits you.  MG Partners can assist you along this path to ensure that the retirement process is smooth and comfortable for your individual circumstances.

A financial adviser can make a huge difference in your readiness for retirement.  If you want to get the process started today please contact MG Partners for a consultation.  MG Partners are specialists in retirement planning and have been able to offer many outstanding solutions to their clients. Phone 03 9523 6500 or email mark@mgaccountants.com.au