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Financial Balance Group

Retirement Management & Estate Planning

You’ve just retired, or you’re about to take the plunge. Do you know what kind of lifestyle you would like to have – travel, investments? Do you know what to expect from your finances? Do you have enough funds – and will they last? Ilya will help you manage your money for the best outcomes.

Financial Planner Retirement Management and Estate Planning - mature lady reading

Financial planning for retirement

Work with us to:

    • Review your retirement planning strategy to ensure an appropriate level of risk for your life stage
    • Have greater clarity and confidence about how long your money will last in retirement.
    • Better manage your budget and cash flow
    • Understand your Centrelink eligibility, obtain and increase your potential entitlements
    • Understand how to best structure financial assets when transitioning family members to residential aged care to ensure sustainable cash flow to fund the care costs
    • Improve the value of the estate by reducing aged care means-tested fees and maximising age pension
    • Improve the value of your estate for your children by reducing potential superannuation death benefit tax

When planning your retirement, you need to know basics such as, how much will it all cost, and how long will my savings and investments last? You also need the answers to some more complex questions, such as, what are my Centrelink entitlements, and do I qualify for government funding or social security benefits?

With Financial Balance Group’s personalised process and tailored advice, you can look forward to specific, practical advice, supported by modelled projections. You’ll know how much you can live on, how much you can afford to help your family, how you can protect your capital, and how to have a clear and transparent roadmap to help you reach your goals, leading to: 

    • Greater clarity around retirement expectations
    • Reduced stress around how long your money will last
    • Greater financial stability and certainty
    • Peace of mind and improved confidence about your financial future
    • Understanding your social security entitlements

Success story

Baryl saw Ilya a year after losing her husband of nearly 50 years. Up until this point, she hadn’t been involved in managing her finances, and has developed a deep-rooted anxiety about finances owing to her lack of confidence in the matter.

Having received a letter from Centrelink, stating that she had been overpaid and that her Centrelink debt was $7,500, Baryl contacted Ilya for advice. She wanted to prevent any future Centrelink debt and ensure she receives the right rate of age pension.

Together, Ilya and Baryl identified her near-term plans, and established how much income she needs – modelling a realistic projection of her assets, liabilities, income, social security payments and expenses. They secured her assets by reducing the investment risk in her default industry fund investments, which had a higher risk than was necessary for Beryl. And, taking advantage of peaked interest rates, they invested some funds into short-term guaranteed income, helping to protect capital against high inflation.

A financial nominee service has been provided to Beryl, so she didn’t have to liaise with Centrelink. And we updated her details and records to ensure future over-payments are avoided.

In addition, a tailored strategy we implemented saved Baryl over $36,000 for her estate, by reducing the potential superannuation death benefit tax, which would be withheld by the ATO if her super was to be paid to her daughters as a death benefit at the present time.

The advice to Baryl regarding the restructuring of her finances has left her reassured in her ability to live out her plans with the income she needs, knowing her money will last her for the rest of her life – as well as enabling some inheritance to be left to her two daughters.

Disclaimer: The above case study does not take into account your own personal and financial circumstances and should not be used as a basis for financial decisions. It is essential to seek advice tailored to your specific circumstances, so that your financial path can be navigated with precision and care.

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