Dreaming of Travelling After You Retire? Here's How You Can Plan for It
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Dreaming of Travelling After You Retire? Here’s How You Can Plan for It

You have to carefully plan everything for you to live the lifestyle that you want when you retire. But what does living well mean when you retire? For many, that means being financially free and stable enough that you can travel and explore the rest of the world.

In Australia, for instance, a survey involving 1,000 Aussies showed that the majority of those approaching retirement or are already retired want financial security so that they can travel.

It doesn’t matter if you plan to explore the coast in your camper van or you intend to travel the world — you are going to need a solid plan to achieve that.

Your trusted financial adviser from Port Macquarie is here to share some tips for you:

1. Start Planning for Your Dream Retirement Now

Retirement is not something that you should wait to start planning for. If you wait for too long, you may already be past your prime and have a more challenging time saving for retirement. That’s why it’s important to start making some small changes early on to get a jump on your retirement goals.

2. Don’t Be Afraid of Making Investments

Investing is a great way to earn more money. And the best part is that you don’t need to be a genius or a millionaire to invest. The key is to start small. Take some of your savings and put them in a good investment vehicle. You can choose from many investment options, including managed funds, shares, and others. Speak to your financial adviser if you are unsure where to allocated your investment funds.

3. Consider Working for a Few More Years

Most people say that they want to retire within a decade or so. However, the truth is, most people can’t afford to retire with enough savings to support them for the rest of their life. If you plan to retire in your 50s, you might want to consider working a few more years to help support your retirement.

4. Take Advantage of Government Incentives for Retirement Savings

The Australian Government has plans in place to help people save for retirement. One of the most common incentives is a tax deduction on contributions you make to a super fund. If you are a low-income earner, the government may also match a certain percentage of your contributions. These incentives can add up – the less money you have to pay in taxes and the more you can accumulate, the better!

5. Prioritise Saving for Your Retirement

To have a good retirement, you need to start saving early on. Most people don’t do this, but if you start thinking about it earlier, you can put aside money for yourself and your family. That way, you don’t have to rely on your kids or other family members to help you out when you retire.

Invest in Your Retirement!

Retirement is an essential part of your life, and you must plan well for it. Developing a solid plan will help you achieve the retirement of your dreams and will bring you the peace of mind you deserve after working hard all your life! That said, planning for your retirement (and all the travelling you can dream of) on your own is easier said than done. The good news is you don’t have to do it on your own because you can seek the services of a trusted professional financial adviser in Port Macquarie to get closer to your goals.

Coastal Advice Port Macquarie can provide you with the best retirement plans that you can choose from. We can help ensure that you get to enjoy your dream retirement with the help of our experts’ sound financial advice. Contact us today so we can set a meeting!

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 which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.

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