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Why You Need a Financial Adviser for Retirement Planning

One of the most common questions we get asked is “Will I have enough money for retirement?”. But the answer isn’t so straightforward – the perfect amount you need will depend on your personal circumstances, your personal objectives and your retirement plans. Your Financial Adviser can provide tailored Retirement Planning – determining how much you need to save to have a comfortable retirement and recommending specific investments to help you reach your retirement goals. They can also help you plan for unexpected expenses that may occur during retirement.

Retirement Planning with a Professional Adviser

Evaluate Your Personal Finances

The first step in retirement planning is evaluating your personal finances. This includes looking at your income, debts, and assets. Advisers can help you figure out how much money you will need to save to achieve a comfortable retirement. They can also help you create a budget to help you build your retirement nest egg even further.

Recommend Investments

Advisers can recommend specific investments to help people reach their retirement goals. They may recommend investing in particular shares, managed funds, bonds, and property securities. Advisers can also help people plan for unexpected retirement expenses, such as medical bills or long-term care.

Look at Your Long-Term Goals

Advisers can help you create a retirement plan that fits your specific goals. They can help you figure out how much money you will need to save for big-ticket expenses such as a seachange, travel, a new car, or pursuing new hobbies.

Personalised Financial Program

Advisers can create a tailored retirement investment strategy based on your goals, risk tolerance, and investment time horizon. This program will help you stay on track to reach your retirement goals. Advisers can also help you rebalance your portfolio to keep your investments aligned with your goals.

Tax Planning

Advisers can help you with tax planning to ensure you are taking advantage of all the tax breaks available. They can also help you plan for retirement, so you don’t have to pay taxes on your retirement income. Advisers can also help you plan for estate taxes to pass on more of your wealth to your beneficiaries.

Risk Management

Advisers can help you manage risk, so you don’t lose your retirement savings. They can help you diversify your investments so you are not over-exposed to any one type of investment, putting your nest egg at risk if the market does not move in your favour.

Advisers can also help you insure your income and life in case the unexpected should occur, ensuring the financial protection of both you and your family.

How to Find the Right Retirement Planning Adviser

Finding the right financial adviser can be a challenge. There areseveralf factors you should consider when selecting an adviser, including:

  • Experience: The first thing you should look for in an adviser is experience. An experienced financial adviser will better help you navigate the financial markets and understand your specific financial needs.
  • Approach: You also want to find an adviser who will take a holistic approach to your financial needs. This means your adviser will not just focus on your investments but also your overall financial situation.
  • Recommendations: Finally, it is important to get recommendations from friends, family, and professionals before selecting an adviser. This will help you understand who is reputable and who will provide you with good advice.

Get Professional Retirement Planning with Coastal Advice Group

Financial advisers can help with retirement planning by advising how to save for retirement, providing tailored advice for each individual, and helping to create a retirement plan that makes sense for each individual.

Whether you are already retired or approaching retirement and wish to boost your savings, there are many effective options available to you. Depending on your financial situation, Coastal Advice Group will create a retirement plan that gives you peace of mind and the comfort of financial security.

We have offices located in Newcastle, the Central CoastSydneyPort Macquarie, and Byron BayCall us or book online to secure your first appointment with us today and get started!

DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.