Retirement on Your Terms: Can You Afford it? Ask a Financial Advisor

Beginning your financial journey with a trusted financial advisor as early as possible is essential, especially when you are saving towards your retirement. International travel, pursuing passions, and spending time with cherished loved ones while you enjoy your golden years are probably among your goals. But amidst these wishes, reality poses the question: “Can you truly afford to retire on your terms?”


The Proof is in the Pudding – Consult with a Financial Advisor

Public opinion surveys have indicated that, at the time of their retirement, individuals who have consulted a financial advisor have accumulated substantially more financial assets and general wealth than those who have not. Moreover, they display a higher level of financial confidence and peace of mind than their uninformed counterparts.

At Efficient Wealth, we know that navigating the complexities of retirement planning can be difficult, especially considering individual circumstances, business priorities, and other financial factors. However, these are financial management challenges that you do not have to manage alone.

With the assistance of our qualified professionals and cutting-edge technologies, we will become your trusted partner in charting your path to a secure and fulfilling retirement. How can employing the expertise of a financial advisor from our team help you mitigate your fears and concerns?


Defining Your “On Your Own Terms” Retirement Plan

Before diving into the financial aspects, it is important to define what “your own terms” means for you. Do you envision international travel, dedicating yourself to perfecting your bowls game, or simply spending quality time with friends and family?

Understanding and defining these aspirations empowers your financial advisor to tailor a plan specifically for your wants and needs. They will consider many factors in this process, including:

  • Your Desired Lifestyle: What activities and expenses do you foresee in your retirement? Are you happy with maintaining your current living standard, or will there be specific needs that require budgeting?
  • Health and Longevity: Factoring in potential healthcare costs, including the unexpected (like dreaded disease cover), as you age is vital for a realistic retirement plan.
  • Debt Obligations: Existing debt should be prioritised for consolidation and settlement. Carrying substantial debt into your retirement years can significantly impact your post-retirement income.
  • Retirement Income Sources: We will explore potential passive revenue streams from pensions and investments to cash liquidity, property ownership, and more to ensure that your income requires minimal effort.


Building a Secure Future with Your Financial Advisor

Once you and your financial advisor have a clear understanding of your realistic retirement goals and current financial situation, the crucial stage of planning begins. This collaborative process involves:

  • Stabilising and preparing your current financial health
  • Consolidating debt and making cash available for other investments
  • Developing a saving and investment strategy
  • Identifying additional income streams
  • Creating a retirement budget


Take Control of Your Future Today

At Efficient Wealth, we are more than your financial advisor. We are your financial confidante and provide objective advice, emotional support, and guidance garnered from proven experts in their financial fields and the latest technology available to the financial industry. So, consider a consultation with one of our professionals to discuss your retirement plan.