Do you have enough money to retire?

When it comes to managing your finances the questions can be endless. Here are the most common questions we get asked:

– When can I retire?
– How long will my money last?
– What are the best investment options for me?
– What can I do now to make a difference?

The best way to answers these questions is to project your wealth into the future. In the following example we can see future income, assets and expenditure.

In the above example, the wealth projection shows that this couple’s money will run out at the age of 79. This is not ideal. But by understanding the current situation it is possible to make changes. It is handy to look at different ‘what if’ scenarios to see how different actions impact how long their money will last. For example:

– What if I can reduce my expenditure by 15%
– What if I also retire at age 65 instead of 62

What if I can reduce my expenditure by 15%?

In the below example (blue line), you can see that by the couple reducing their regular lifestyle expenditure by 15%, it means they can potentially pay off their home loan earlier, and the couple’s money would extend well into the 90s.

What if I retire at age 65 instead of 62?

In the example below (green line), you can see by working by even just 3 years more it is hugely beneficial towards your financial future.

Clients have told us that this process is enlightening as they can easily see whether they are on track to obtain their financial goals, the options to get them there and if they need any help to make it happen.

What should you do now?

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If you would like to discuss your investing options, we offer a 1 hour no obligation, complimentary consultation with one of our advisers to discuss your situation. Contact us to arrange a time.

Wealth Projection Tool
Our most powerful tool for wealth creation. TAG’s Wealth Projection Tool will show you how long your money will last, is easy to understand, provides clarity and helps create targets and goals. Contact us to arrange a time.

Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686).