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Why Is Retirement Planning Important

Regardless of your age, it is important to start contemplating your retirement – as with most things in life, the younger you start planning, the better!

As we all know, the best laid plans can be derailed by life events and other, more immediate focuses – this therefore makes planning for retirement even more important in order to help ensure you reach financial independence once you reach the end of your working careers.

Retirement 1Here are our top reasons that explain why retirement planning is crucial:

  • 1. Planning is Critical

It is human nature to assume that “things will work out in the end” – even our financial situation. However, assumption and successful retirement aren’t usually a good mix. Ensuring you have sufficient money at retirement should never be left to chance. People who assume ‘things will work out’ are usually the ones left disappointed.

  • 2. Provide Financial Independence for Your Family

In some families, it is the responsibility of the children to look after their parents as they age. Fact is though children can’t always be relied upon, and they have their own financial goals as well. Planning for a successful retirement will help ensure you’re self-sufficient in your later years which also allows greater financial independence for your family members and any children who thought they were up to assisting you financially.

  • 3. Support the Retirement Lifestyle You Want

Responsibilities during your working life such as raising a family can often get in the way of retirement planning. Thoughtful retirement planning takes these responsibilities into account and can help ensure you have the finances for your immediate needs, as well as allocating savings to achieve your retirement goals – such as dream holidays, taking up new hobbies, or spending time with grandchildren.

 

Retirement 2
  • 4. It is a Risk to Rely on Your Pension

For most people, the Age Pension is unlikely to be sufficient to support the lifestyle they want in retirement. The purpose of the Age Pension is to supplement your living expenses, not be your sole source of income. If it’s a financially independent retirement you want, you need to build your retirement nest egg – the Age Pension alone won’t cut it

  • 5. You Always Have Enough Money to Save for Retirement

Guaranteed Employer Super Contributions are unlikely to be enough for the future you desire. You need to be saving extra along the way to really boost your wealth to a point where you can live the lifestyle you want.

With enough discipline, careful planning, and sound advice from Endorphin Wealth, you can always find that little extra to save for retirement. You will thank yourself later on for doing so.

How We Can Help

Why Retirement Planning is Important

Endorphin Wealth can provide you with expert financial advice and help you develop strategies for planning your retirement. For an obligation free discussion, call us on 03 9190 8964, or email us at advice@endorphinwealth.com.au.

What our Clients Say

  • Robert Rich is a gun and has been a pleasure to work with, he spent a lot of time asking questions and listening to both my husband and I to get a deep understanding of our current financial situation of who we are and where we want to be. His advice has been comprehensive and easy to understand. The genuine interest and enthusiasm he has demonstrated has made the whole experience to date, fun and engaging (it has also been awesome to see some great financial results!). Rob is a great communicator and is always available to chat, meet up or respond to an email. We wish we had seen Rob earlier, and plan to have him as our advisor now and into the future, I have and will continue to recommend him and his services.

    - Ellen Bond

  • Rob has been fantastic helping us set all our financials in order. We didn't want to have to worry about any of this stuff day to day. Rob put together a set and forget strategy that will see us in good shape for the future. Good guy, good advice, great help. Thanks again Rob

    - Andy Wright

  • My husband and I had a wonderful experience with Rob. He is genuine and honest. He has done amazing things with our finances to ensure our future is set up the right way. He has gone above and beyond our expectations. I highly recommend Rob, he is an expert in his field.

    - Anthea Husing

  • love working with Robert. He is highly skilled, practical and empathic. Nothing is a problem and he goes ‘above and beyond’. I have no hesitation in recommending Robert as an excellent financial advisor.

    - Rebecca Carter

  • Robert has managed our finances over the last 12 months as if they were his own. He has an eye for detail and is incredibly enthusiastic. We have recommended him to all our friends & family.

    - A. Miles

  • Rob has handled our finances for some time now. He provided us with sound advice and options. I highly recommend his services.

    - Mathew Quinton

  • Robert Rich provided me excellent financial advice and assistance in finding the right insurance for me. He was incredibly patient, and I'd recommend him without hesitation.

    - Edward Murrell

  • Rob has been helping me with my finances for just over 12 months now and i couldn't be happy, he is a wealth of knowledge and is amazing at what he does.

    - Paul Scott Ray White

  • Phillip and the team provide quality advice. They carefully explain the available options and clearly set the client's interests as the priority.

    - Jon Sutton

  • Rob has provided fantastic advise and clarity to myself and clients

    - James Ruddick

  • Great guys! Amazing financial advice.

    - Jay Boston

  • I cannot say enough about their professional manner and would highly recommend anyone I know to seek their services

    - Heather B

  • Your knowledge of the financial market is up to date and your approach to my portfolio has been proactive

    - Michael S

  • Thanks to Endorphin, I am now on the path to that dream of mine

    - Jake F

  • The plan has definitely made a big difference to my lifestyle

    - Josie W

  • It has been quite exciting and very comforting to have Endorphin looking after my financial future

    - Susan A

  • They provided me with a sense of direction and security that I did not have previously

    - Michelle C