We asked Vince Gagliardi, MB+M director and authorised representative from OzPlan Financial Services, how to make the most of your early retirement years.
Q. Am I retiring at the right time? Too early? Too late?
It’s a big decision! This is why it’s important to chat with us about finding that Goldilocks moment – so you’re not hanging up your hat too soon or missing out on well-deserved relaxation. Let’s get it just right.
Q. What makes retirees excited to get up in the morning?
Pursue hobbies, sports, travel, and volunteer. Spending quality time with family and friends. A word of caution, 26 per cent of retirees ‘unretire’ and return to work part-time, stating they needed a purpose and sense of accomplishment.
Q. My current home is too big to maintain in retirement, can the proceeds be contributed into superannuation?
If you have outgrown your home, you could utilise the Downsizer Contribution. This allows individuals 55 or older to contribute some of the proceeds into superannuation fund boosting retirement savings. Be careful though, as certain eligibility criteria must be met, so it is crucial you obtain financial advice before doing this.
Q. What advice would you give a person in the early years of retirement?
Enjoy it and have fun! Write a bucket list, visit our team of financial advisors and we can help you achieve the retirement of your dreams.
Remember, early planning and smart financial decisions make a significant difference in your quality of life during your golden years.
This column contains general advice only and does not take into account the needs, objectives and situation of any individual. You should consult with a licensed financial adviser and consider obtaining personal financial advice prior to making any decisions about retirement.
If you require further information, feel free to visit MB+M at 120 Nixon Street, call 5821 9177 or email us: vinceg@mbmgroup.com.au
