Your children are grown up and have most likely started their own lives and families, plus your work is winding down.

This leaves you and your spouse with time to focus on the things you may have delayed or put off because of family commitments.

EMPTY NESTERS, ARE YOU COVERED?

Your debt may be decreasing but you may still have some financial commitments. So it’s important to consider how your spouse would cope if something unexpected happened and you were unable to work.

Would you have to delay retirement, or would your spouse have to stay in work or give it up to take care of you?

Your insurance is your safety net. It’s there supporting you every day of the year and comes into its own if you become ill or seriously injured. So it’s important to make sure it’s always kept up to date – as your circumstances change, so too should your insurance.

Most funding for retirement is done from age 50 onwards, when you need the capacity to invest for your future. The great thing about insurance is it protects you against loss of your income both before and after you’ve retired.

PREPARING FOR RETIREMENT

Retirement is just around the corner. And while many investors in their 40s and 50s are planning for 20 years in retirement, there’s a good chance their retirement will last 30 years or longer.

The risk of not having enough savings at retirement is one of the key challenges for retirees. So it makes sense to make sure your current plan is right for you, and will provide you with enough money to live comfortably for the rest of your life.

Each person’s idea of a comfortable retirement is different and it’s difficult to know exactly how much you’ll need to achieve the lifestyle you want. Once you know how much you need to save, you can then plan how you’re going to achieve the retirement you want.

For more information on how Smart Financial Planning can assist you with your financial planning needs please contact us on [phone].