life financial planning sunshine coast adviser

Planning for Retirement

Savings

Planning for retirement savings should be painless if some simple steps are taken early enough.

Work out what age you want to retire. You need to be realistic about this because retirement could be for a long time, retiring at age 65 for a male could mean that you could have more that 15 years. These years should be full of fun and enjoyment.

Next calculate how much money you will need to live on each year allowing for and increase in expenditure every year there after. This will allow for the effects of inflation which increases the cost of living each year. We recommend that you use your current expenditure now as a starting point, then eliminate all debt to arrive at an accurate figure.

Calculate how much you need to invest on a monthly basis now to achieve your income funding goals. Your employer superannuation fund and the Age Pension should not be relied upon as the only source of retirement income if you really want to maintain your current standard of living. more>>

Often neglected but no less important, you will need to give thought to what you will do to occupy your time in retirement, travel, hobbies, family. It’s a good idea to think seriously about this issue before you retire. Without something to retire to boredom could seriously reduce your life expectance.

The early years in retirement are often referred to the "Go, Go Years" This is because most retirees have a desire to do all of the things that were not possible during the younger part of their lives due to house mortgages and raising families. Now that is finished, plans for extended travel are usually top of the list. So it would be wise to work out how much additional capital you will need for spending in your "Go, Go Years"

If that all looks too hard, don't worry we are well qualified to analyse and assist you to organise your future retirement planning so you can enjoy your "Go, Go Years"

Debt management

Our debts are out of control, even though we earn a good income, how can this be turned around?

Some people go through life never knowing how debt actually works and spend the greater part of their lives being controlled by debt. Smart Planning System SPS© will show you how to win back control of debt and make debt work for you instead of against you.

We believe that no person should enter retirement with a debt burden.

Contact us for a free consultation on how to structure debts efficiently and make the "system" work for you.

Budgeting>>

Budgeting

We know we need to budget, so we can find extra cash to invest for retirement but how do we get started? What should we do first? Will we have to decrease our lifestyle?

Budgeting is the foundation of any retirement planning strategy, even for the very wealthy. Budgeting can free up lazy money for additional investment if you know how.

Contact us for a free analysis and some special tips on how to get started and no you won't have to starve.

Superannuation Planning>>

Superannuation Planning

Superannuation can be very confusing, more so if you don't understand the basics.

How much should my employer be putting into my super and when?

How much should I be investing? Have I enough time left in the work force to take advantage of Superannuation?

When can I get my money out of superannuation? Should I/we set up our own Self managed Superannuation Fund?

Superannuation over the past ten years has become without a doubt, the most misunderstood retirement savings plan. more >>

It seems that every other day the Government has changed the rules again so why should I/we bother?

You should bother because superannuation is the most tax effective retirement savings strategy available in Australia today. Nothing else comes close.

To not take advantage of everything Superannuation has to offer is like buying a new motor vehicle and not putting any petrol in the tank to run it. It just won't get you very far when you need it most. Let's face it, you could be in retirement for a very long time, 20 to 30 years so making the most of superannuation should make life a pleasure not a pain.

A Self Managed Superannuation Fund requires a lot more work than an ordinary super fund.

As a member of your own super fund you will also be a trustee, this means that you have responsibilities. read more>>
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You will also have more investment choice, flexibility and the possibility of lower administration cost along with special benefits for self employed business people.

Caution: Special rules apply.

This is where our Specialist Superannuation Advisers SSA™ can help you get the best from your superannuation fund.

Estate Planning>>

Estate Planning

You're in the process of building your wealth so it is important that you incorporate an Estate Plan.

What is an Estate Plan?

It is the plan put into place with instructions about what you want to have happen in the event of your death.

A Will, your Will which is normally set up by a Solicitor, is just one part of estate planning. Your Will should say who receives what assets and money after your death.

All too often people die without a Will. This creates lots of problems for the loved ones who are let behind to sort out your financial affairs.
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Without a Will the Law requires the State Government to step in and you potential beneficiaries may not receive what you would have really liked them to receive.

In your Will you may have decided to make provisions for money to be paid or assets to be gifted to your partner and/or several different family members.

However final expenses like the funeral, executor's expenses, final taxes and unpaid medical bills may deplete your estate and deprive your loved ones of these gifts.

So how do you ensure that this situation doesn't arise?

Contact us for you initial free consultation, we have our Estate Planning Lawyers on hand to assist you ensure appropriate
Estate Planning organisation that is compatible with your financial planning. <<back

Smart Retirement

Clever income strategies

Ever wondered how that friend of yours was able to retire on a great income and didn't seem to worry anymore about tax and had spare money to spend on long holidays overseas, buy the new car, caravan, boat etc?

Smart retirement is all about organising your financial affairs before you retire. You may benefit from a superannuation income or other investment income, or a combination of both as well as enjoy some or full access to the Age Pension. It all boils down to strategic planning.

You need to fully understand Centrelink requirements to qualify for the Age Pension benefits.

We will help you understand the Asset Test, The income Test, gifting and all of the other requirements. Contact us for you initial free "Smart Retirement " consultation

Estate Planning>>

Estate Planning

Your finished building your wealth but you can't take it with you when you go so it's important that you Estate Plan is up todate.

When was the last time you checked you Will? More than three years ago? Then it's time to review this. Now you are retired your situation may have changed, have grand children and may have health issues.

Naturally you would like your estate to pass to the loved ones you would like without interference. more>>

With most people living longer it is now more important than ever to ensure that you have in place an Enduring Power of Attorney so that should you become incapable of managing your financial and lifestyle affairs.

We have our Estate Planning Lawyers on hand to assist you ensure appropriate Estate Planning organisation that is compatible with your retirement planning.

Self employed

If you have been self employed for more than three years? Now is the time to commence some expanded business thinking and planning about the future direction of you business.

Most small to medium size business reach a plateau. You, the business owners feel that you are really busy but still feel that you could do better. This becomes frustrating and can totally drain your energy.

How big do you want your business to grow? How will you monitor your progress?

Through our association with other carefully screened experienced professional business advisers who are all experts in their field. We can assist you to take your business to the next level of profitability without the guess work using a planned approach.

We can provide you with assistance in all areas such as profitable business structures, business planning. Affordable Web design and implementation to market you business cost effectively.

Save you're most valuable asset, time, with a specialist accounting systems which should alleviate the time lost on day to day book keeping, BASS preparation requirements and end of financial year tax preparation.

We also provide Specialist Superannuation Advice planning, asset protection and estate planning along with affordable Key Person insurance protection and business financing needs. Contact us at information@ufp.com.au for a complimentary appraisal of your current position and requirements. <<back