ROOT
Reap the benefits of planning your financial future
Taking control of financial planning during uncertain times such as the COVID-19 pandemic is proving greater benefits than “simply building a better monetary nest egg”, according to a retirement planning agency.
Reap the benefits of planning your financial future
Taking control of financial planning during uncertain times such as the COVID-19 pandemic is proving greater benefits than “simply building a better monetary nest egg”, according to a retirement planning agency.
The Moreton Group said increased peace of mind and work satisfaction are just some of the benefits Australians are experiencing by getting their finances in order.
“Over the last two years people have been worried about their jobs, their income may have been affected, and for many the retirement plan to simply travel around the world is in chaos,” The Moreton Group financial adviser Trent Klein said.
“We are finding that sitting down and planning it out a bit better eases the mental strain. It is also putting people in a better position to adapt and change throughout retirement, especially if they or their partner becomes ill, which is currently a much bigger concern for aged citizens.”
Mr Klein added that future planning is an even better experience when engaged with a financial adviser.
“Planners also show a better transition into retirement because they are better prepared about what is going to happen and how COVID-19 might impact that,” he said.
“They are simply giving themselves time to get used to it by planning it.”
It comes after Challenger Life general manager of retail distribution Luke Cheetham noted the huge opportunity for advisers coming with the incoming retirement income covenant.
The covenant, set to take effect from 1 July 2022, will require superannuation trustees to plan and outline a retirement strategy for members.
“So there’s going to be a huge demand for fit for purpose product innovation, delivered through quality advice, that’s specifically designed to, manage tax status and also give consideration to liquidity risk, to longevity risk, inflation, and market risk,” Mr Cheetham said on the latest episode of the ifa Show.
“We know from research that those who are engaged with an adviser, they have an active plan, they have a current plan, they generally feel more informed, they’re better prepared, they have greater confidence about their retirement, and therefore they worry less, and when we know they worry less, they enjoy more.”
Retirement
Retirement living linked to better health outcomes and reduced hospital visits, report finds
The Retirement Living Council (RLC) has welcomed the findings of the Australian Medical Association's (AMA) annual Public Hospital Report Card, which highlights the potential for age-friendly ...Read more
Retirement
La Trobe Financial unveils heartwarming new campaign celebrating a life of well-managed investments
Australia's premier alternative asset manager, La Trobe Financial, has launched a new marketing campaign titled "Grandpa's Gift" in collaboration with creative agency Bastion. The fully integrated ...Read more
Retirement
Retirement Living Council welcomes government's decision to delay new Aged Care Act
The Retirement Living Council (RLC) has expressed support for the Australian Government's decision to postpone the commencement date of the new Aged Care Act, with Minister for Aged Care Anika Wells ...Read more
Retirement
Aged Care Taskforce report raises concerns among retirees about increasing costs of care
The Australian Independent Retirees (AIR) has welcomed the release of the Aged Care Taskforce report on funding arrangements, which highlights the need for additional aged care funding to meet future ...Read more
Retirement
Exploring the future of aged care: Retirement communities set to play a pivotal role
The Retirement Living Council (RLC) has openly endorsed the Aged Care Taskforce report, viewing it as a vital guideline for both the government and service operators in shaping the future ...Read more
Retirement
Inherited wealth overtakes self-made fortunes among global billionaires
In a striking shift in the distribution of wealth among the world's elite, inherited fortunes are now eclipsing those earned through entrepreneurship, marking a pivotal chapter in global economic ...Read more
Retirement
Why retirees should be encouraged to remain in the workforce
From an early age our society expounds that we should “respect our elders” and encourages the notion of “experience being invaluable”. Given our ageing population, over the next few decades, ...Read more
Retirement
ASIC seeking out 'misleading' marketing by managed funds
The corporate regulator has commenced a surveillance into the marketing of managed funds. Read more
Retirement
Retirement living linked to better health outcomes and reduced hospital visits, report finds
The Retirement Living Council (RLC) has welcomed the findings of the Australian Medical Association's (AMA) annual Public Hospital Report Card, which highlights the potential for age-friendly ...Read more
Retirement
La Trobe Financial unveils heartwarming new campaign celebrating a life of well-managed investments
Australia's premier alternative asset manager, La Trobe Financial, has launched a new marketing campaign titled "Grandpa's Gift" in collaboration with creative agency Bastion. The fully integrated ...Read more
Retirement
Retirement Living Council welcomes government's decision to delay new Aged Care Act
The Retirement Living Council (RLC) has expressed support for the Australian Government's decision to postpone the commencement date of the new Aged Care Act, with Minister for Aged Care Anika Wells ...Read more
Retirement
Aged Care Taskforce report raises concerns among retirees about increasing costs of care
The Australian Independent Retirees (AIR) has welcomed the release of the Aged Care Taskforce report on funding arrangements, which highlights the need for additional aged care funding to meet future ...Read more
Retirement
Exploring the future of aged care: Retirement communities set to play a pivotal role
The Retirement Living Council (RLC) has openly endorsed the Aged Care Taskforce report, viewing it as a vital guideline for both the government and service operators in shaping the future ...Read more
Retirement
Inherited wealth overtakes self-made fortunes among global billionaires
In a striking shift in the distribution of wealth among the world's elite, inherited fortunes are now eclipsing those earned through entrepreneurship, marking a pivotal chapter in global economic ...Read more
Retirement
Why retirees should be encouraged to remain in the workforce
From an early age our society expounds that we should “respect our elders” and encourages the notion of “experience being invaluable”. Given our ageing population, over the next few decades, ...Read more
Retirement
ASIC seeking out 'misleading' marketing by managed funds
The corporate regulator has commenced a surveillance into the marketing of managed funds. Read more