Seeking advice around Retirement & Investment Planning in Taupo?
Whether you’re just starting to think about planning for retirement, you’ve sold a business or farm, received a lump sum or you have surplus funds you want to ensure are working for you, Legaseed will work to understand your goals, specific needs and situation, to gain a comprehensive understanding of your financial landscape.
By looking at your whole position, we can design a tailored and achievable financial plan to enable you to achieve the goals, or live the retirement you desire, free from the day to day worry.
While investment itself may seem straightforward, it can also be daunting if it’s something you haven’t done before. It is however the planning our clients find invaluable. We want to establish a relationship with our clients that will last, we’re in it for the long term, so it is our aim to make you feel comfortable with each step of the process.
Call Charlotte today on 07 213 2270 or click here to send an email now
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FAQs
Some of the questions we’ll help you answer:
How long will my nest-egg last?
How much can I spend without running out?
How much do I need to start accumulating now to achieve the lifestyle I desire?
What are some of the important things on your wish list?
What do you want to do for your children/family/others around you, if anything?
What can I spend? Or do I/we have ‘enough’ for retirement?
Are there things you want to achieve but haven’t yet? If not, why not.
What do you want your life from here on into look like? What do you want to spend your time doing?
Do you already have ‘enough’ to achieve everything you want or do we need to put a plan in place to help you get to that point?
Embarking on the journey of retirement planning sooner rather than later lays the foundation for a well-prepared and fulfilling retirement. While the New Zealand Superannuation (NZ Super) provides a base payment for those aged 65 and above, it's prudent to recognize that it may not fully cater to your desired retirement lifestyle. To ensure your golden years are brimming with comfort and enrichment, diversifying your income sources becomes essential. Alongside NZ Super, consider cultivating personal savings, leveraging KiwiSaver, nurturing investments, and stewarding valuable assets.
Eradicating Debt
Prior to embracing retirement, clearing lingering debts—be it credit card balances or mortgages—becomes an astute strategy. The liberating act of entering retirement without the burden of a mortgage amplifies the impact of NZ Super, allowing you to channel your payments toward fortifying savings. Resources detailing strategies to retire mortgage-free can be found at Sorted.
Flexible Retirement Employment
The flexibility of retirement age in New Zealand paves the way for a dynamic post-retirement career landscape. Many individuals seamlessly transition into part-time, flexible, or casual work, even after surpassing the age of 65. The ability to continue working empowers you to bolster your financial stability beyond NZ Super, or simply relish the fulfillment of remaining professionally engaged in your later years. Comprehensive guidance on earning NZ Super alongside additional income is available at Work and Income.
Unlocking Asset Potential
Property ownership and valuable assets often hold untapped financial potential during retirement. Consider downsizing or relocating to a more manageable residence to unlock the dormant capital tied up in your property. Exploring the avenue of a reverse mortgage can also be a viable strategy. This entails borrowing against your property, with repayment scheduled upon the sale of the property or your passing. Applying for a reverse mortgage warrants judicious consideration, ideally supplemented by independent legal counsel. Consumer and Sorted offer valuable insights into this intricate process.
Leveraging KiwiSaver and NZ Super
KiwiSaver offers an elective savings scheme tailored to bolster your retirement prospects. By designating a percentage of your income to a KiwiSaver provider, such as your bank, you forge a path toward a robust retirement fund. This scheme serves as a dual-purpose vessel, catering to both retirement and potential home ownership aspirations. Explore the depths of KiwiSaver further on the IRD website.
Meanwhile, NZ Super extends a pension lifeline to those aged 65 and beyond. Its accessibility isn't tethered to retirement status, nor is it contingent upon income assessment. The quantum of NZ Super hinges on your living arrangement, relationship status, and potential benefit entitlements.
Elevate your retirement planning endeavors with this comprehensive outlook, aligning your financial strategies with the promise of an enriched post-work existence.
