Home / Blog / 4 Steps Towards Living Your Best Retirement

4 Steps Towards Living Your Best Retirement

October 10, 2021 | Retirement Planning

Do you dream of the day when you don’t have to wake up early and rush to your 9 to 5 job? Are you looking forward to the days where you can think about everything besides work? Perhaps, ready to travel the world and take on a new adventure? Many of us are planning for retirement, but what do you really expect life to be like after retirement? How close are you to achieving that dream life?

For many people, the increasing cost of living may be a problem. These days, utilities and daily necessities may be too high when compared to what they’re currently earning. But what if you make more than enough, but you’re simply clueless in planning your future? Well, the answer is quite simple: you need sound financial advice from an expert on retirement planning!

A professional financial planner can guide and provide you with a tailored plan so that you can have a fulfilling and financially stable life in retirement. While you’re on the hunt for the right financial planner to help you out, here are some things that you can start doing to begin your journey in the right direction:

Step #1: Determine Your Ideal Retirement Lifestyle

When planning your retirement, the first step you should always take is to determine what your future goals are. Everyone’s financial situation is unique, and naturally, their dream retirement life is different, too. So, before you proceed with your plans, make sure that you are clear on what your ideal retirement lifestyle is.

Step #2: Look for a Professional Retirement Adviser

Once you’ve identified your goals and assessed how you want to live as a retiree, it’s time to consult a financial adviser who specialises in retirement planning. Working with an adviser will help you streamline your choices in creating a plan.

With a professional by your side, not only will you receive better insights on retirement planning, but you’ll also have an instant support system that will help ensure that you’re on track and help to make adjustments to your plan should you need to change direction.

Step #3: Sort Out Your Super

Your superannuation may be one of the best investments you can ever make. By maximising your super, you can ensure that you have sufficient finances set aside to support your dream retirement lifestyle. There are a few strategies that you can do to make the most of your superannuation, from salary sacrificing to choosing the right super fund and selecting a suitable investment mix.

 Step #4: Make Sure Your Tax Obligations Are Minimised

Just as you would optimise your superannuation, you should also work on minimising your tax obligations. This will give you more freedom to pursue different wealth-growing strategies and techniques you might have in mind. Luckily, most financial strategies recommended for retirement planning come with certain tax benefits. Your financial adviser can help you figure out which methods will work best for your goals.

While it’s never too late to start planning for your retirement, all financial advisers will tell you the same thing—it’s so much better to begin your journey early. By doing so, you’ll be more prepared and ready for your dream retirement lifestyle. You can also implement more financial strategies and allow them to grow even greater by the time you finally retire. If you still aren’t working with a reliable financial planner, it’s best to find one now! Remember financial planning is done best with the guidance of experts who know the best tactics for you to achieve your goals.

Coastal Advice Group is one of the best financial consultants in Australia who can provide you with expert services from seasoned retirement advisers. Contact us today to set an appointment with one of our financial planners! We have offices located in Newcastle, the Central Coast, Sydney, Port Macquarie, and Byron Bay. Call or book online to secure your first appointment with us today and get started!