How To Retire Early And Lead The Good Life

If I told you to imagine your retirement, what would it look like? The time and money to travel the world, the ability to spend more time with family, restoring that old 1960 Shelby GT500 or maybe you just want to stop and smell the roses. Now imagine doing that 5 years or even 10 years earlier. Think it’s a pipe dream? Think again! With some professional assistance, savvy investing, smart spending and a practical attitude, you too could be on your way to retirement at 55!

There are four main steps to achieving a comfortable early retirement that should be mixed with hard word, determination and professional assistance.

What you have now.

Look at your assets, deduct your debts and there you have it; your net worth. This gives you your base to start with. Knowing where you are, helps to determine where you’re going. This step also involves a budget to know what you are spending.

What you want in retirement.

The AFSA Retirement Standard (a quarterly report on estimated expenses for retirees) indicates that an average couple living a comfortable life in retirement needs around $55,000 per annum. But is that you? Are you average? Are you OK with living comfortably?  Or is extravagant more your style? Maybe somewhere in between?

How much you’ll need to achieve your retirement income.

Working out how much of a lump sum you need to get the income you want in retirement can be tricky. You have to take into account a potential return (Do you use current market returns? Do you factor in a market downturn?), any lump sum withdrawals you’re expecting like a new car or holiday, CPI (inflation), tax, etc. We can assist you with this to give you a realistic idea of what you’ll need as a lump sum to retire early.

What you need to do to get there.

This is working out the difference between what you have and what you’ll need and doing what it takes to get there. There a number of options that can be employed including additional savings, reduced spending, changing your investment portfolio, tax savings, super contributions, etc. This is where we excel. We’ll assess your situation to determine exactly what you need to do to retire early and assist you every step of the way to make sure you remain on track until you get there.

As our motto says, we’ll help you to Create wealth for your future, Protect what you’ve built and Enjoy the fruits of your hard work when the time is right.

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