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Understanding your Retirement: 4 steps to help understand what retirement means to you

Article By Janik Hrabovcak | | Financial Planning

With Australians living more active and longer lives, the concept and expectations of retirement living is much different to what it was in past generations. For each individual, retirement is different.

Typically, there are four areas that need to be considered to help you better understand your retirement goals and objectives. These are:

1. Define your retirement;
2. Understanding cash flow;
3. Clarify your goals objectives; and
4. Estate planning

1. Define Your Retirement

Everyone has their own view of what retirement means and what their own retirement may look like. An important part of planning for retirement is knowing what’s important to you, and to clarify your outlook on retirement. This allows your financial adviser to recommend appropriate retirement income strategies to satisfy your retirement goals and objectives.

2. Understanding Cash Flow

Cash flow management is an often overlooked aspect of retirement. An adviser can help you define daily cash flow needs and recommend strategies to ensure your needs are met whilst preserving your retirement savings.

3. Clarify Your Goals and Objectives

To allow for an adviser to plan for your retirements, it’s important that you clearly define and express your retirement goals and objectives. This includes distinguishing between your objectives that are ‘must haves’ in retirement and those that are not essential.

4. Estate Planning

Estate planning is also a consideration for many when planning for retirement. It is important that your retirement plan and testamentary intentions are aligned. Appropriate professional advice from both a financial adviser and lawyer will allow your estate assets to be distributed in accordance with your wishes.

Remember, preparing for retirement isn’t as hard as it seems. Just keep in mind the four basic principles outlined above.

To see what options are available to you, or just want to enquire, please do not hesitate to contact one of our Altitude Advisers.

Altitude Financial Planning is a Corporate Authorised Representative of Altitude Financial Advisers Pty Ltd
ABN 95 617 419 959
AFSL 496178

The information contained on this website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Document.


Altitude Financial Planning is a Corporate Authorised Representative of Securitor Financial Group Ltd
ABN 48 009 189 495
AFSL 240687


The information contained on this website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product