Enjoy a future just like your best day
When people look ahead into retirement, they are not looking forward to big changes. What most people want is having more time to do the things they already love. Our role is to make sure clients can keep enjoying the best parts of their life.
What’s on your list?
Long lunches
Overseas trips
More time with your family.
At One Plus One we offer financial advice that considers the different parts of your life. Advice that is more than just helping you accumulate wealth. Advice that helps you balance, plan and priorities what you want from life, then ties it all together in a financial strategies that helps you achieve your goals.
Most of us are concerned our lifestyle won’t stay the same in the future
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Will downsizing be a choice or necessity?
The right investments now can keep you living in your family home for life.
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Have you got enough to keep the best of today?
Make sure your future can be full of the things you love.
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Superannuation
At One Plus One we take superannuation seriously.
Retirement planning is extremely important for all of us, and should be done from the day we start our first full time job, not just in the final years of our working life. For that reason we take great pride in ensuring that all of our clients are well informed and prepared in this regard.
When discussing superannuation with our clients we consider the following:
Superannuation is individual to everyone and to plan for it you really need to think about the sort of person you are.
Are you the frugal? Could you live on $300 a week? Or do you spend $1000 a week and love to go on holidays to Europe every year? Or is the latter the dream and the former the reality? Whatever your situation, it’s important to sit down with your financial planner and discuss your individual situation.
When would you like to retire?
Do you want to keep working until you are 70, some people do, or do you have plans for an early retirement and want to retire at 50? This too, will dictate how much super you will realistically need.
What superannuation structure is most appropriate for your individual age and stage?
Your superannuation structure doesn’t remain static over your entire career. As a general rule, your policy should be more aggressive when you’re younger before returning to a more conservative structure as you get closer to retirement. We work with each you to determine the best structure for your future.
This is the most important paragraph so please read it twice. When it comes to Superannuation everyone needs to not leave thinking about your super too late. Typically people tend to focus on paying off their mortgage first and then start thinking about their super in their 50’s. This is a great way to not retire with enough to support your lifestyle. It’s our belief that you need to be doing both from the very beginning. Make your own salary sacrificed contributions AND pay off your mortgage with any money left-over. When super was first introduced, the new version recommended amount to put away was 15% as the mandatory contribution and yet we’re still at 9.5% over 20 years later. Everyone should be trying to contribute at least 15% of their income to super.
When it comes to retirement needs, no ones situation is the same. However, as a bare minimum, people should assume that they will continue to spend around 60-70% of their pre-retirement income. For many people $1m in super would be ample. For others, perhaps not.
If you are a parent One Plus One strongly recommend that you talk to your children about this as soon as they begin to pay compulsory superannuation contributions. Recommend that they seek out financial advice from a trusted and qualified financial professional who will be able to devise an investment strategy tailored to their unique needs so that you can feel confident their future retirement.
Corporate Superannuation
A Corporate Super fund is a fund that is arranged by an employer for its employees. As an employer it is vital that you effectively manage your employees’ superannuation arrangements.
If you are an employer looking for assistance with selecting the right superannuation fund we can help you select a fund that offers:
- First-rate administration, this should include a clearing house facility and Trustee services;
- A selection of investment strategies to reflect the varying circumstances and needs of your employees;
- An appropriate level of financial protection, including life, total and permanent disablement and salary continuance insurance;
- Competitive fees and excellent service.
One Plus One can provide advice relating to your Superannuation Guarantee (SG) and choice of fund obligations and help design a superannuation offering that meets both your needs as an employer and the needs of your employees.
Portfolio management
Do you understand investment concepts and superannuation?
It is crucial that you understand the concept of risk, return and diversification and how risky investments might impact your personal situation.
To some, risk may mean the possibility of losing a portion of their capital and for others, the risk of their assets not producing enough income. It is a tight line to walk if you don’t know or do not have the time to find out what is happening all of the time.
Although risk can’t be eliminated, it can be measured and managed with an investment portfolio. You need to consider taxation, legislation, protecting your wealth and assets, associated costs and the inherent risks of investment.
It’s important to understand how these issues will have an impact on you and what you should expect over time. One Plus One helps to determine the appropriate level of risk for you as part of our Financial Planning service.
