Your Retirement Investment Strategy is Full of Choices
Wednesday, December 06, 2023
The vision of your retirement and the reality of your retirement journey could well be in harmony. Our experience as financial planners though, is that life can throw unplanned twists and turns along the way that may require review and accessing your investments.
When you are planning your retirement, discussions with your financial planner are essential. Together you will design a retirement investment strategy which will be a balance between your financial position and the things you would like to achieve in your retirement.
There will be your everyday living expenses to estimate and manage. Once this is taken into account, perhaps you would like to travel overseas, do the grey nomad journey around parts of Australia, or immerse yourself in new hobbies.
The vision of your retirement and the reality of your retirement journey could well be in harmony. Our experience as Sunshine Coast financial planners though, is that life can throw unplanned twists and turns along the path that may require a review and access to your investments. Perhaps your children need unexpected support, or your health requires some additional attention, you need to update your car, or maybe there are necessary home repairs or renovations to be managed. Many people move house in the course of retirement, either to a completely different area for the next phase of their retirement, or to downsize their living circumstances to establish less responsibilities and increased cash for retirement income. Further down the track in retirement there may be financial changes to be made if a partner requires accommodation in an Aged Care facility. Any of these life scenarios may require discussions with your financial adviser.
When planning your retirement investment strategy, it is vital that easy access to funds for the unexpected is factored into your retirement plan. This often means having adequate Cash investments that can be easily liquidated. Accessible cash does not mean leaving money sitting in a Cash Account. Rather, it means investing appropriate amounts of money in stable low volatility investments, that return more than Fixed Interest, from which you can grab money if needed. This strategy protects you from withdrawing money from the growth investments within your portfolio should you need fast cash to manage ‘life’.
Deciding the best strategy for withdrawing funds from your investments is where consulting with your Financial Adviser comes into play. Their recommendation could change depending on market movements and performance.
With good financial advice you can rest assured you have the unplanned factored into your retirement plan with real time guidance as to best strategies to meet your needs. So when you do return to overseas travel or want to upgrade your car and caravan, or perhaps help out a family member you have access to the Cash. That’s where Maher Digby's financial planners on the Sunshine Coast come in – we provide guidance where life meets your finances.
For more Information contact Mark Digby at Maher Digby Securities Pty Ltd - Financial Advisers – AFSL No. 230559. This document was prepared without taking into account any person’s particular objectives, financial situation or needs. It is not guaranteed as accurate or complete and should not be relied upon as such. Maher Digby Securities does not accept any responsibility for the opinions, comments, forward looking statements, and analysis contained in this document, all of which are intended to be of a general nature. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend consulting a dedicated financial adviser for retirement investment strategies.