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Navigating the Transition

RETIREMENT PLANNING

Investment adviser

Plan for a a New Chapter with Confidence

Retirement is a significant milestone in life, marking the end of your working years and the beginning of a new chapter filled with opportunities and challenges. Leaving the workforce can often evoke mixed emotions—excitement for the freedom ahead, but also uncertainty about the financial and personal changes that come with it. At Thrive, we understand that retirement is not just a financial transition, but also an emotional one, as your identity and daily routines undergo a significant shift. That’s why our approach to retirement planning goes beyond numbers; we’re here to support you every step of the way, ensuring you enter this new phase of life with clarity and confidence.

What Makes an Effective Retirement Plan

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Understanding Your Retirement Goals and Needs

The first step in effective retirement planning is understanding what retirement looks like for you.

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Assessing Risk Tolerance and Time Horizon

As you approach retirement, your investment strategy will likely need to shift from wealth accumulation to wealth preservation. This transition requires a careful assessment of your risk tolerance and time horizon.

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Income Planning and Management

A key aspect of retirement planning is ensuring that you have a reliable income stream to cover your expenses throughout your retirement years. This involves carefully managing your superannuation, investments, and other income sources to provide the financial stability you need.

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Tax-Efficient Strategies for Retirement

Tax planning is an integral part of retirement planning, as it can significantly impact your retirement income and overall financial wellbeing.

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Ongoing Portfolio Management and Support

Retirement planning doesn’t end when you retire—it’s an ongoing process that requires regular monitoring and adjustment to ensure your financial plan continues to meet your needs.

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Superannuation and Social Security Considerations

Your superannuation is likely to be one of your most significant financial assets in retirement, and managing it effectively is crucial to your financial security.

 

The tax implications of accessing superannuation, selling investments, or receiving social security benefits can be complex, and it’s important to structure your finances in a way that minimises your tax burden.

At Thrive, we’re experts in navigating the Australian tax system and will help you implement tax-efficient strategies that maximise your retirement income. Whether it’s making the most of tax concessions on superannuation, optimising your investment withdrawals, or managing capital gains, we’ll ensure that your retirement plan is designed to keep more money in your pocket.

How we can help

1. Understanding Your Retirement Goals and Needs

Everyone has a different vision for their retirement—some may dream of travelling the world, others might want to spend more time with family, or perhaps you’re looking to pursue new hobbies or volunteer work. Whatever your dreams, it’s important to have a clear understanding of your goals so that we can tailor a plan to meet them.

 

At Thrive, we take the time to explore your retirement aspirations in detail. We’ll work with you to identify your income requirements, determine your desired lifestyle, and establish the financial resources needed to support it. Whether you’re planning to retire early or work part-time during retirement, we’ll help you define a path that aligns with your vision and ensures you have the financial security to enjoy your retirement to the fullest.

2. Assessing Risk Tolerance and Time Horizon

Your risk tolerance reflects your comfort level with investment volatility, while your time horizon considers the number of years your investments need to generate income.

At Thrive, we conduct a thorough evaluation of your risk tolerance to ensure that your investment portfolio is aligned with your comfort level as you move into retirement. For some, preserving capital and ensuring a stable income stream might take priority, while others may still seek growth opportunities within their portfolio. We’ll help you strike the right balance, taking into account your time horizon, so that your investments continue to work for you throughout retirement.

3. Income Planning and Management

At Thrive, we specialise in creating tailored income plans that address your unique needs and goals.

We’ll explore various income strategies, such as drawing down from your superannuation, setting up annuities, or investing in income-generating assets. We’ll also consider the role of social security benefits, such as the Age Pension, and how they can supplement your income. Our goal is to provide you with a steady and predictable income stream that allows you to maintain your desired lifestyle without the stress of running out of money.

4. Tax-Efficient Strategies for Retirement

The tax implications of accessing superannuation, selling investments, or receiving social security benefits can be complex, and it’s important to structure your finances in a way that minimises your tax burden.

At Thrive, we’re experts in navigating the Australian tax system and will help you implement tax-efficient strategies that maximise your retirement income. Whether it’s making the most of tax concessions on superannuation, optimising your investment withdrawals, or managing capital gains, we’ll ensure that your retirement plan is designed to keep more money in your pocket.

5. Ongoing Portfolio Management and Support

Economic conditions, market performance, and changes in your personal circumstances can all impact your retirement strategy, making it essential to have a plan that’s flexible and adaptable.

At Thrive, we provide ongoing support and portfolio management to ensure your retirement plan remains on track. We’ll regularly review your investments, income streams, and financial goals, making adjustments as needed to keep your plan aligned with your changing needs. Our commitment is to be there for you every step of the way, providing peace of mind and confidence as you navigate your retirement years.

6. Superannuation and Social Security Considerations

At Thrive, we’ll work with you to develop a superannuation strategy that aligns with your retirement goals, taking into account factors such as contribution strategies, investment options, and the timing of withdrawals.

 

We’ll also help you navigate the complexities of social security, including eligibility for the Age Pension and other government benefits. By understanding how your superannuation and other assets interact with social security rules, we can optimise your income and ensure you’re taking full advantage of the benefits available to you.

Frequently asked questions about retirement planning

Retirement planning is the process of preparing for your financial and personal life after leaving the workforce. It’s important because it ensures you have the financial resources to maintain your desired lifestyle and achieve your retirement goals.

At Thrive, we take a personalised approach to retirement planning, helping you define your retirement goals, assess your risk tolerance, and create a tailored income strategy. We also provide ongoing support to ensure your plan adapts to changing circumstances.

It’s never too early to start planning for retirement. The sooner you begin, the more time you have to grow your savings and develop a strategy that aligns with your goals. However, even if you’re close to retirement, it’s still important to create a plan to ensure a smooth transition.

When creating a retirement income plan, consider your income needs, risk tolerance, time horizon, and tax implications. It’s also important to account for social security benefits and how they interact with your other income sources.

Ensuring your retirement savings last involves careful planning, regular monitoring, and making adjustments as needed. Thrive can help you create a strategy that balances income generation with capital preservation, providing you with financial security throughout your retirement.

Your trusted partner in retirement planning

Ready to take the next step?

By partnering with Thrive for your retirement planning, you’re not just preparing for the future—you’re crafting a retirement that reflects your values, aspirations, and lifestyle. We’re here to help you navigate this significant life transition with confidence, ensuring that your retirement years are everything you’ve dreamed of and more.

Contact us today to start your retirement planning journey. Whilst we are based on the Sunshine Coast, we help clients with these needs all over the great state of Queensland. Let us help you make informed decisions that honour your loved one and secure your family’s future.

Callum

Love the life you've worked so hard for.

The Trustee for The Yurko Family Trust T/A Thrive Financial Planning | ABN 80 346 511 003
Corporate Authorised Representative 000449875
Beryllium Advisers Pty Ltd | ABN 30 646 510 769 | AFSL 528250



General Advice Warning: The information and advice contained on this webpage and website has been prepared for general information purposes only and does not take into account your personal objectives, financial situation or needs. It is not intended to provide commercial, financial, investment, accounting, tax or legal advice. You should, before you make any decision regarding any information, strategies, or products mentioned on this website, consult a professional financial advisor to consider whether it is suitable and appropriate for you and your personal needs and circumstances. Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products mentioned on this website. You should also obtain and read this document prior to proceeding with any decision to purchase a financial product. Although every effort has been made to verify the accuracy of the information contained in this document, Thrive Financial, its officers, representatives, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this document or any loss or damage suffered by any person directly or indirectly through relying on this information.

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