Thanks’ Annette. It is great to join the RetireInvest team. I’ve worked in the finance sector for twenty years, most of them as a retirement planning specialist. We moved our family to Port in 2008 and I have been providing advice and building relationships throughout that time. During this time, I have had the good fortune to work with outstanding people who have mentored me and taught me invaluable lessons—particularly during periods of market downturns like the Global Financial Crisis and, more recently, the COVID-19 pandemic in 2020.
I have a passion for assisting clients achieve their retirement goals and know that the right advice today will make a positive difference to their future.
I have known Simon and Sandra for 15 years having worked together previously. They are both excellent advisers whom I have the utmost respect for and when asked to join RetireInvest it felt like the band was back together.
As the name suggests we are Retirement focused and so whether it is helping someone navigate Age Pension, advising those approaching retirement on key considerations to best fund their income needs, continuing to service long standing clients or providing a local choice for those that have recently moved to the area I’m excited to work with the team at RetireInvest to obtain the best outcomes for our clients.
The biggest change from my point of view has been technology. Twenty years ago clients would receive a statement once per year and now they have access to their portfolio daily via mobile app or tablet.
Increased longevity considerations – With increasing life expectancies we need to plan for longer retirements.
Coincidentally it has been 15 years since the Global Financial Crisis (GFC) and I saw first hand the impact this had on retirees. Many of my learnings about investments and positioning a portfolio for periods of market downturn came from this time and I take the analogy that if we fail to learn from the past, we are doomed to repeat it in the future.
This is probably over a longer period however the cost of living in retirement has changed during this time. I recall my grandparents being able to live off an Age Pension and yet these days it is near impossible for retirees to have Age Pension as their only source of income. Superannuation has played a far greater role in people funding their retirement and naturally as the cost of living has increased, more superannuation is required to fund a comfortable retirement.
Identify the clients’ goals or objectives for Retirement.
Establish a timeframe for each goal or objective.
Assess current financial circumstances.
Determine income needs in retirement.
Develop an investment strategy that aligns to the goals and time horizon.
Discuss any significant capital costs that form part of retirement (i.e. Overseas travel, Caravan etc.)
Continual monitoring to adjust the plan if required.
Develop long term relationships based on trust and open communication.
This may sound obvious but the earlier you plan for retirement the better the outcome. There is no one size fits all as everyone’s lifestyle needs and retirement desires are different. The key to what we do as financial planners is identifying these needs and opportunities and applying the right strategy to help achieve these goals.
The best strategy a retiree can employ is to consult with a retirement specialist as early as possible.
To assess if a client is on track for their retirement goals, I review their financial position regularly to ensure the existing strategy remains aligned. We can’t control the future and so it is important to be flexible and should circumstances change be it personal or financial then we discuss this and make any changes needed. Regular reviews enable us to make adjustments for life changes or market conditions.
We would love to hear from anyone in need of advice and can be contacted at our office in Port on 02 6583 9748 or via email at admin@retireinvest.net
