Your children have grown up and probably have their own lives and families to focus on. You’ve stopped work altogether, or you’re may be working part-time to keep yourself active.

Whichever approach to retirement you’ve taken, now is your time.

HOW SAFE ARE YOUR RETIREMENT PLANS?

But how would your spouse and family cope if something happened to you and you couldn’t afford to maintain your retirement lifestyle?

Would you need to take extra from your retirement savings while you recover – which might limit your retirement in the long term? Or would you need help from your children?

Having insurance in place and keeping it up to date is a key component of a good financial plan. It makes it easier to keep your lifestyle and all your hard-earned cash even if the worst were to happen.

MAKING YOUR RETIREMENT SAVINGS LAST

These days you can look forward to a longer retirement than ever before, with the current life expectancy for a 65 year old being 80 years for a man and 84 years for a woman.

So while many people plan for 20 years in retirement, there’s a good chance your retirement will last 30 years or longer.

By understanding how much you’re likely to spend each year of your retirement, you can put a plan in place to make sure your savings last.

Exemplar Financial Services can help you develop a retirement budget that will cover:

• all of your known expenses
• any known income you’ll have such as return on investments or bank deposits, and
• extra things you’d like to spend money on like a holiday, new car and house renovations.

Other factors to consider for the retirement phase of your life are the income stream options available to you, protecting your retirement savings and estate planning.

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