Retirement Planning: Secure Your Financial Future
Securing Your Future With Confidence
Planning for retirement is one of the most significant financial milestones in life, and is one that is shared by many Kiwis across New Zealand. Having a well-structured plan is vital to ensure that your golden years are as secure and fulfilling as possible. No matter if you’re reaching retirement age or if you’re just starting to think about it, it’s essential to create a solid plan that is personalised to your finances and your goals.
At Strategic Wealth, we specialise in helping New Zealanders navigate the complexities of retirement planning so they can enjoy their hard-earned retirement with happiness and without financial stress.
Why Is Proper Retirement Planning So Important?
Retirement is a time to embrace freedom, pursue personal passions and spend quality time with your loved ones. However, your golden years could be plagued with financial stress if you hadn’t created and followed a good retirement savings plan. Without proper financial planning, maintaining your desired lifestyle can be very challenging. Instead, the right retirement plan helps to ensure that:
You Enjoy Financial Security
You will have enough savings to cover expenses and your lifestyle and adapt to unforeseen events in case they happen.
You Have Peace Of Mind
When you know that your retirement goals are achievable and that you’re on the right track, you can have peace of mind and stress less about money.
You Experience Freedom Of Choice
You can decide how and where to spend your retirement without financial constraints. Saving enough for essentials and hobbies gives you the freedom to enjoy your retirement how you like.
You Have Confidence
When you don’t have the stress of consistent financial pressure, you can have confidence in your lifestyle choices.
Common Retirement Challenges We Can Overcome
Many people underestimate the financial demands of retirement. Here are a few challenges that many Kiwis face when saving for retirement:
Rising Cost Of Living
Inflation can erode purchasing power, making long-term planning very essential for Kiwis.
Healthcare Costs
Medical expenses generally rise as we grow older, and planning for these is critical.
Underutilised KiwiSaver Funds
Many New Zealand residents are unsure if their KiwiSaver contributions will be sufficient or optimised.
These challenges may be concerning, but at Strategic Wealth, our team helps you address these obstacles with a robust retirement strategy that is personalised to your needs and economic projections.
The Many Components Of Retirement Planning
Our approach to retirement planning involves a comprehensive analysis of your financial situation, your personal goals, your lifestyle plans and your risk tolerance. Here are just a few ways in which we can help you save for the future:
Adequately Defining Your Retirement Goals
Every individual’s vision for their retirement is unique. Some may dream of travelling the world, others may wish to spend more time with family and others may have interesting hobbies that they’d like to pursue. What do you plan on doing in your golden years? We can define the following, as well as other important factors:
- Your Desired Retirement Age: When would you like to retire?
- Your Ideal Retirement Lifestyle: How do you want to spend your time?
Your Key Milestones: Would you like to purchase a retirement property or fund family goals?
Assessing Your Current Financial Situation
We will begin a detailed analysis of your current financial standing. We can cover assets and liabilities, income streams and expenses and any existing retirement savings. If you have any investments or KiwiSaver savings, we will analyse these as well.
Optimising KiwiSaver Contributions
KiwiSaver is a cornerstone of retirement planning for many New Zealand residents, as it’s an accessible and beginner-friendly option for Kiwis of all kinds to begin saving for their futures. We help you make the most of your KiwiSaver fund by:
- Recommending the right KiwiSaver fund for your risk tolerance and goals.
- Advising on contribution levels to maximise employer and government contributions.
- Monitoring your fund’s performance over time to ensure that it remains aligned with your needs.
Building A Diversified Investment Portfolio
Investments are essential to grow your wealth and outpace inflation, setting you up for a good, secure future. We design personalised investment strategies that align with your risk tolerance level and time horizon and include a mix of assets. We will also regularly go over your investment portfolio with you so that your investments stay profitable and you stay on track for your goals.
Structuring Retirement Income
A successful retirement plan doesn’t just focus on saving; it also ensures a steady income stream throughout retirement. We can structure your retirement income to cover essentials, minimise tax liabilities and provide flexibility to adjust for unexpected expenses.
Planning For Healthcare Costs
Healthcare expenses can be unpredictable and significant. We can assess potential medical costs based on your health and family history to factor healthcare expenses into your retirement budget. Additionally, we can look into insurance options and go over the claims process to give you peace of mind.
Take The First Steps Towards A Secure Retirement Today
Are you ready to plan for retirement? The best time to start is now, and we at Strategic Wealth are here and ready to help. Please feel free to contact our team today to organise a free, no-obligation consultation with us.