The Retirement Playbook: How to Plan for the Life You Want
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Retirement is note then, but rather the beginning of a new chapter, filled with meaning, freedom, and fulfillment.
But let’s be honest: planning for retirement can also feel quite daunting, and overwhelming.
You may wonder, “Will I have enough to support the lifestyle I want?” or “What happens if my plans need to change?” At 4Front, we understand these concerns deeply. Retirement planning isn’t just about crunching numbers – it’s about aligning with your priorities and ensuring peace of mind as you work toward the life you envision
Define Your Retirement Vision
Let’s start by painting a picture of your dream retirement. This is the foundation of everything we’ll plan together.
Imagine your daily routine. Do you see yourself exploring new hobbies, volunteering, or perhaps relocating to a dream destination?
Consider how you want to maintain your physical and mental wellbeing.
Whether it’s starting a passion project or spending time with family, understanding what matters most to you will help shape your plan.
Example: Retirement is 24 hours a day, 7 days a week. Without work, this is a lot of time that needs to be filled. We like to discuss with clients not just the raw numbers but map out what retirement might look like. Overseas travel in the early years of retirement? Downsizing/moving closer to grandchildren? Volunteering on weekdays? Everything goes on the table for consideration.
Assess Your Current Financial Position
Before we can map out your journey, we need to understand where you’re starting from. Think of this as your financial health check-up. It reflects where you are today and what you need to adjust to align with your goals. More than numbers, it’s about clarity and setting expectations early on.
Your financial snapshot, capturing all your assets and liabilities.
This step helps you answer, “Am I saving enough to support my dreams?”
Set Specific Financial Goals
Now that we know where you’re starting, we’ll define where you want to go. Setting goals will ensure that your future feels secure and exciting.
We help you consider everything from inflation to potential medical costs.
Identify all possible sources of retirement income. We’ll explore how superannuation, investments, rental income, or pensions can complement your savings.
“Setting specific goals is important because they are measurable. We meet a lot of clients that say they want “a comfortable retirement.” We have clients that live comfortably on $45,000 p.a. and other clients comfort level is $200,000 p.a.” You require two very different asset bases in those scenarios, so knowing what your desired end goal looks like allows for achievable results using the right asset mix”. – Sam Wilson, Senior Financial Planner, 4Front
Create a Retirement Budget
This is where we turn your vision into actionable steps. We’ll break down your expected expenses into essentials like housing, healthcare, and food and discretionary spending for hobbies, travel, and leisure. Think of this as your retirement playbook where budgets aren’t about restriction, but rather empowerment. They help you confidently align your spending with your priorities.
This includes both essential costs and discretionary spending like hobbies and travel.
Life doesn’t always go as planned, so we’ll include a contingency fund to give you flexibility for life’s surprises!
“Having a good understanding of how much income you need in retirement is not just about budgeting, but it also lays the foundation of your investment portfolio,” says Clint Fleming, Lead Financial Planner at 4Front. “Ensuring your investment portfolio is constructed with your income needs in mind provides peace of mind in volatile times so that you can maintain your desired lifestyle”.
Maximise Your Superannuation
Your superannuation is one of the most powerful tools for retirement planning, and our job is to help you make the most of it. We’ll look at where all of your superannuation is currently sitting, how much you’re contributing, whether you’re taking advantage of tax benefits, and if your investment strategy aligns with your timeline and risk tolerance. Think of your super as a garden – tended carefully, it will grow into a resource that supports you for years to come.
Your super should grow with you, aligned to your risk tolerance and timeline.
Life doesn’t always go as planned, so we’ll include a contingency fund to give you flexibility for life’s surprises!
Diversify and Protect Your Wealth
Retirement isn’t just about saving – it’s also important to safeguard what you’ve built.
Diversification is key here. We’ll structure your investments to balance growth and security, and plan for contingencies as well, giving you peace of mind.
A balanced portfolio not only safeguards your savings but also
ensures your investments keep pace with inflation.
We help you prepare for life’s uncertainties with adequate
insurance and emergency funds.
There is no single ‘best’ asset. All assets have their advantages and disadvantages so it’s about having a diversified portfolio that does not overexpose you to a particular risk. Investing isn’t just about earning the highest return, it’s about earning good returns that you can stick with, and which can be repeated over the long-term to take advantage of compounding.
Engage Expert Advisors Like Us
Retirement planning can feel like navigating a maze and you shouldn’t navigate this journey alone. We’ll handle the technical complexities so you can focus on building the life you want in retirement.
From tax optimisation to estate planning, we
ensure every detail aligns with your vision.
Preserve your legacy by creating a plan that reflects your values
and priorities.
Focus on Health and Wellbeing
A fulfilling retirement is financial freedom to live well. Your health and happiness are as important as your financial plan.
Stay active, eat well, and maintain regular check-ups to ensure
your golden years are vibrant.
Retirement can be isolating without a strong social network.
Pursue activities and relationships that bring you purpose and joy.
Your Retirement, Your Way
Planning for retirement isn’t just about preparing for the future – it’s about creating one you’re excited to live. At 4Front, we specialise in helping you align your financial roadmap with your unique aspirations.
Let’s build a future you can look forward to. Call us at (07) 3875 9888 or visit www.4front.net.au to get started today.
Customer Reviews
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Giles and his team at Herrington Business Consulting have been absolutely great to work with and they definitely have gone above and beyond for us by streamlining all of our accounts so that we can focus on what we do love to do and continue to grow our business. Morbi venenatis ut sapien eu lobortis.
Narelle Pamuk - Talk
Director, Radical Orange Pty Ltd.