Design your future in your 50s and 60s
January 6, 2021
Whether you’ve got years of work to go or you’re beginning to slow down, designing the next phase of your life is pivotal in your 50s and 60s.
To get things started have a look at these essential planning steps and then enjoy designing your future.
See how much income you’ll have
Imagining your retirement can be exciting, even if it’s a while away. Who wouldn’t love having more time to pursue hobbies, travel, and spend time with friends and family?
To make the most of what could be the longest holiday of your life, it’s crucial to know how much money you’ll have.
To peek into your future, have a look at the retirement income projector and
- estimate your retirement budget
- see how much Age Pension you may qualify for
- compare the outcomes of different scenarios
- see how a variety of market changes may impact your retirement savings.
Decide if you need to top up
The reality is the more you contribute to your super now, the more likely it is that you’ll achieve your retirement goals and maintain your lifestyle later. Depending on your situation, there’s a variety of ways you can add to your super—and better yet it’s easy to organise. Call us on 1300 033 166 and a financial adviser at TelstraSuper Financial Planning can help you with your options. You can receive general and simple personal financial advice about your TelstraSuper account over the phone at no additional cost.
Choose the right investment option
Super may end up being your biggest asset, so it’s important to make sure you get the investment mix right for your particular stage of life and future plans.
It’s easy to check or update your investment option/s when you log in to SuperOnline. Or, for general and simple personal advice about the most appropriate investment option/s for you, speak to a financial adviser from TelstraSuper Financial Planning by calling 1300 033 166. This type of advice is also included in your membership so there is no additional cost.
What type of investor are you?
Update your beneficiaries
You may think you’ve planned ahead, written your will and prepared for all contingencies—but unless you’ve nominated a beneficiary for your super you may not be fully prepared. It’s important to note that your TelstraSuper benefit (including any insurance component) doesn’t automatically form part of your estate, unlike your personal assets, such as your house, property and investments.
Talking about death isn't the most cheerful topic, but the fact is it's going to happen to all of us one day. When it does, it's best for your family if all your assets, including your super have been taken care of.
Find out more about beneficiaries
Get help from the professionals
As a TelstraSuper member you can get general and simple personal financial advice on contribution strategies, investment options and beneficiaries over the phone as part of your membership.
For more comprehensive personal advice about a broad range of super and non-super topics, TelstraSuper Financial Planning has a range of advice options available for a competitive fee.
So, if you don't know where to start give us a call on 1300 033 166 and book in to speak to an adviser.