Retirement Planning

comfortableretirement.jpgWhat sort of lifestyle do you want when you retire?  Most people want at least the same standard of living that they have now and enough left over to be able to do some of the things they’ve never had the time for before, like travelling.  The reality is that if this is what you want you need to plan for it, and the sooner you start, the easier it will be.

So how much do I need to retire?  This is very much an individualised process.  It depends on when you want to retire and how much money you need.  Very simply, the amount you need is the annual income you require multiplied by the number of years you think you’ll be retired for.  But there can be different variations – so it’s best to speak to us to work out your target and how you’re going to reach your goals.
Have you been putting off saving for retirement?  To have a retirement income of around 60% of your final salary, you’ll need to have saved roughly seven and a half times your final salary.  You might say “Can’t I just sell my family home and downgrade?”  Many people plan to sell their family home to help fund their retirement.  But do you really want to sell your home when you get older?  You may still have family at home, or want room for grandchildren and family to stay.  If you are planning on retiring to a popular area, near the sea for instance, it may cost you as much or more than your current home.  And you will probably still need to save as well – many smaller retirement units can cost as much as a large family home.
So how can I reach my goals?  Most people in NZ will be in the KiwiSaver scheme but this alone will not be enough to fund the type of retirement you may desire.  The good news is it’s never too late or too early to start – you just need to begin.  Your first step is to talk to us at Iconic Financial.  With our experience in financial planning we’ll have you set up and on the right track to a retirement of your dreams in no time at all.

No Obligation Consultation at Our Expense
Contact us now you have nothing to lose.  We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain from retirement planning.  Contact us today and discover how to get yourself on the road to retirement success.