Assess your financial position To prepare for retirement, the first thing to do is to work out how much money you have now, how much you might have in the future and where it will come from. Bring this information together by finding out:
- what assets (houses, savings, investments) you have and how much they are worth
- how much super you have and when you can access it
- whether you are likely to be eligible for the Age Pension and when you can apply for it. Make a long-term financial plan
- The next step is to think about how your needs might change over time. For instance, in the first few years of retirement, you might want to travel or take up a new hobby. Later, you may want to replace your car or renovate your kitchen. Further down the track, you may want to move into a retirement village.
- Think about how you can use your different income sources to fund the different stages of your life.
Above some point which need to consider for Retirement Planning Advisor.