55 years+

Asset Protection and Retirement Lifestyle Planning

What does your financial blueprint look like at 55+?

Here’s a snapshot of what you need to know.

Retirement is closer than you think at this stage of life. It’s now critical to take stock of what retirement looks like for you and ensure you are contributing to superannuation or investments, so you can enjoy your ideal lifestyle in your retirement years. You may need superannuation advice, to get the maximum benefit from all your hard work.


Whether it’s a Mediterranean cruise or caravan trips around Australia, we can help find the right financial solutions to meet all your needs (including any bucket list ideas you may have planned).

There are a few key tips for people within this age group to seriously consider.

A budget helps you to establish your outgoings and incomings and once you are aware of what these are you can establish a clear savings plan. Consequently, putting a budget in place will move you closer to your financials goals sooner rather than later, which is key at this time of your life.


It’s vital to look closely at your spending and what possibly could be cut back so you can save more. It’s also fundamental that you stick to the budget once it’s established to maximise your financial benefits.

Making sure you have the right insurance cover during this age is crucial. This is particularly important for those who still have mortgages to service, outstanding debts and/or dependent family members.


Depending on your circumstances there are several ways to insure yourself while maximising your final earnings. You also want to make sure your income stream isn’t affected if unexpected events happen. Here are a few insurances solutions for you to consider:


If you have an accident and are unable to work you will also be unable to continue contributing to superannuation which will affect your retirement savings plan. This insurance can replace up to 75% of your income.


Being practical about your mortality and choosing this insurance will help to support your loved ones financially with an income to pay off debts.


If you suffer from an accident and survive, this insurance can help provide financial support to your family while they take care of you.

Total and Permanent Disability – If an accident changes the course of your life, then this insurance will provide a lump sum payment so you’re able to continue to live your best quality life.


For those who operate a business this insurance combines life, trauma and income protection all in one and in the event of an injury or illness, this insurance can cover the business owner if their unable to work.

Depending on your age, it might also be time to make sure your will is up to date and to start thinking about your estate planning ideas.

The Aged Pension is income and asset tested, so your individual circumstances will determine what you receive. In addition to the Aged Pension there are also other benefits you can receive when you are of retirement age. These include a Pensioner Concession Card and rent assistance, as well as telephone, pharmaceutical and remote area allowances.


To make sure you get the most out of these benefits, get in touch with our professional financial planners today.

What would you like your retirement years to look like? Will you be able to retire at the age you want? It’s these questions that will help guide you in the type of investment decisions you need to make at this pivotal time of your life. With a shorter period to maximise your finances, these choices can be life changing.


Now is the time to consolidate the gains you’ve made and strengthen your position and we here at Ethical Private Wealth Specialists can help you do this. Some strategies to consider in anticipation of your retirement years include:


-Dollar Cost Averaging

-Investment Loans


-Appropriate Tax and Investment Structure


-Charitable Giving

Super is fundamental as it provides a tax efficient way of investing for your retirement years. You also receive better rates than any other investments outside of super which makes superannuation a solid strategy with fast growing returns.


And when you do retire, depending on your funds rules, you can receive either a lump sum or a stream of income with usually no tax payable.

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Ethica Private Wealth Specialists can help you to accumulate wealth, protect it as retirement approaches and enjoy it!