If you’ve just retired then there’s no need to rush. Take the time to consider your future as the decisions you make now may impact the rest of your life.
Some things to know and consider include:
- Consider how to use your Superannuation - think about how you want to invest and how much you may need to withdraw as a lump sum.
- Know your true financial position – how much disposable income will you have during your retirement?
- Revise your financial plan - now is an ideal time to look at how your life will change over time. Make sure you’re looking long-term and not just the next few years.
- Do a budget – given your change in lifestyle, your budget will often change as well and may need to be adjusted over time.
- Eliminate bad debt – Generally, it’s advisable to clear your credit cards, personal loans and home loan as soon as you can.
- Your time frame – each generation is living longer and hopefully you’ll have a long and healthy retirement, so consider how long your money will need to last.
- Where do you want to live? – you many want to move to a new area, or downsize to increase your retirement income.
- Get a job – lots of retirees keep working to supplement their income. Some even turn a hobby into a small business.
- What do you want to do with your time? - you may start a new hobby, or throw yourself more deeply into an old one. Make sure you consider how you want to spend your time and the impact this may have on your finances and lifestyle.
- Get professional advice – unless you have the time, expertise and experience to manage your own financial affairs, including your investments, it may not be a good idea to proceed without advice. Many retirees with the skills to manage their own affairs also choose to use a professional, so they can save time and get on with living.
| How we can help |
|---|
|
If you have just retired, congratulations. Now is an ideal time to discuss your needs with one of our experts because you don’t want to take any chances with your retirement income. ANZ 50+ Benefits: Depending on your situation and the products you choose, your benefits could include fee waivers or bonus interest. ANZ 50+ Life Cover1 is a straightforward life insurance policy that lets you get on with your retirement without the need to worry about your family having to pay the cost of your funeral and other expenses, if the worst should occur. An A-Z Review® with an ANZ Retirement Banking Specialist: ANZ Retirement Banking Specialists have an intimate understanding of retirement and the steps to take when you have just retired. With a complimentary A-Z Review®, we can help ensure we are doing all we can to maximize any benefits available to you, including accessing Centrelink benefits and other Government support. We will also look to ensure your banking arrangements meet your retirement needs. Request an A-Z Review®. ANZ Financial Planners: You may want to manage your own investments in retirement. Then again, many other people in your position figure they have better things to do with their time. Either way, an ANZ Financial Planner can help you understand your options and determine your next steps, including what to do with your retirement nest egg to take advantage of all benefits and Government help. Your first appointment is complimentary and without obligation. Make an appointment with an ANZ Financial Planner. |
1. ANZ 50+ Life Cover is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657, 176 AFSL 238341). OnePath Life is a wholly owned subsidiary of Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522, AFSL 234527) an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). OnePath Life is the issuer of the product but it is not a Bank. Except as set out in the issuer’s contract terms (including the PDS), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuer. The information provided is of a general nature and does not take into account your personal needs and financial circumstances. You should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should read the ANZ 50+ Life Cover Product Disclosure Statement (PDS) (PDF 220kB) and consider whether this product is right for you. ANZ will not receive a commission for this product. All ANZ Group staff members receive a salary, and will receive monetary benefits based on the number of ANZ 50+ Life Cover sales achieved.
®A-Z Review is a registered trademark of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522.
ANZ Financial Planners are representatives of Australia and New Zealand Banking Group Limited, ABN 11 005 357 522, the holder of an Australian Financial Services licence.
The information provided is general information only and does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Before making any decision to acquire, hold or sell any financial product, ANZ strongly recommends that you seek financial planning and/or tax advice and read the relevant Product Disclosure Statement and/or Terms and Conditions.
You need Adobe Reader to view PDF files. You can download Adobe Reader free of charge.
