Tips and tricks to ensure you achieve your retirement goals
We’ve rounded up eight things to think about to ensure you’re on track with your retirement goals.
1. Consider working casually or part-time
Rather than quitting the workforce entirely, working casually can boost your income without digging into your superfund too early, even if you’ve reached the preservation age. This doesn’t mean you have to keep doing the same thing you were always doing. If you find something fun for you, it might not even feel like a real job.
2. Factor in healthcare costs
While you may be eligible for a health card, medical costs are still worth thinking about. Consider any known health issues or things from your family’s medical history that may come up as you age.
3. Get appropriate financial advice ASAP
Use a licenced financial adviser who can help you set realistic financial goals. They will be able to help you develop and implement a strategy for your super around the kind of lifestyle that you want to lead and your priorities.
The sooner you get advice, the better. You will be able to implement strategies for long-term financial goals immediately and maximise the benefits.
You should ask your adviser about different investment strategies, the risk involved and returns you can potentially expect.
4. Take advantage of your entitlements
Make sure you check what you're entitled to - from the aged pension to discounts on commercial businesses and public services.
5. Beware of scams
Unfortunately, retirees are a popular target for investment and insurance fraud. Always get professional financial advice if you are unsure of what to do. Research companies before you deal with them. Never give out your personal, banking or credit card information to anyone who makes contact with you.
If you think something sounds like a scam, or if it’s too good to be true, it probably is. Hang up the phone, delete the email or destroy the letter.
Related links:
5 step guide for building a financial safety net
How to spot fake Apple products
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