Retirement Income Streams

One of the first and most important decisions you must make when entering retirement is how you are going to replace the income you earned while working.

While everyone is different, in general most people spend at least as much in retirement as they did in the pre-retirement working years.

There are two main sources from which most people derive their retirement income include:

  • Government benefits (i.e. the Aged Pension)
  • Savings you have accumulated during your working life

Understanding your retirement needs

Retirement may seem like years away, but the sooner you start thinking about it the sooner you can start working towards your goals.

You probably have lots of questions: What should I be investing in? How much should I invest? Can I invest and still enjoy my lifestyle today?

Getting Started

There are multiple products available in which to invest your retirement savings. But before choosing a product, it’s important to understand your retirement needs and financial objectives.

Some questions to help you get started include:

  • What income do you require in retirement?
  • How much money are you planning on leaving for your estate?
  • How much of your current wealth can be used to generate an income?
  • Would you be concerned if your current savings dropped in value?
The process of answering these questions will help you and your financial adviser determine the most appropriate strategy and products to help you achieve your retirement dream.