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Financial Advice for Those in Retirement

Did you know that while almost half of all retirees agree that hiring a financial advisor could make a huge difference when it comes to planning their retirement, only 24% actually have one? Compared to the 47% in the US and 57% in Canada, this is an incredibly low figure.

Many experts in the field here in Australia would agree that it’s not often the wisest idea for a retiree to try and undertake the task alone, as they may pay the price for not having professional guidance later on.

Unfortunately, over 80% of the retirees in Australia don’t have a retirement income plan – although 43% are reported to have a plan to generate some income for retirement that could last them at least 30 years or so.

Keeping in mind the very low interest rates and the instability of the market, it can be unwise for any retiree to not be careful with their savings – and in general, this is where a professional’s advice can really come in handy.

 

Lindale Insurances Pty ltd ATF Lindale Insurances Trust ABN 27 027 421 832 is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd AFSL 244252and ABN 61 094 529 987. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement. For Australian Residents Only.

Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of Millennium3. They cannot be reproduced in any form without the express written consent of the author.