Transition To Retirement

You have spent most of your life working. Now, it’s time to confirm your future.

We define retirement as the point in your life when working becomes a choice. If, however, you do not have adequate financial provision for your retirement, you may not have this choice. Another way of looking at the retirement phase of your life is when you stop saving from your earnings and start earning from your savings!

The choices you face in planning for your retirement are complex and can, at times, be confusing.

Maintaining lifestyle in retirement

It’s now time to think about how you can maximise your cash flow and current assets. What is the best financial structure with the least risk? Do you have clear financial goals? If so, are you on track? We help you discover what you could do, if anything, to improve your position.

At GPA Financial Services, we believe that we can help you make better financial decisions and our role is to advise you on the necessary steps required to build your retirement savings. Our Strategic Advice approach ensures that you benefit from a tailored financial solution that will prepare you for a ‘worry free’ retirement.

When can I afford to retire?

When planning for your retirement we will take into account:

Your existing income
Your lifestyle expenditure requirements
Your existing assets
Any existing debt
The age at which you would like to retire
How much you think you will need in retirement

Another important issue to consider when planning for your retirement includes your Estate Planning. Will the wealth in your estate go where you want, when you want and in a tax effective manner?

How can I maximise my retirement income?

After implementing appropriate strategies, it is most important that you manage your personal cash flow. This is where our Cash Flow Monitoring service can help you remain on track and give you peace of mind knowing that you are in control of your finances during your retirement years. At your planning meeting we scenario test your financial position against the known future events and plans. This provides clarity and comfort that things are on track, or acts as an early warning system if issues arise along the way.

Name withheld for privacy reasons

CFO Newcastle

Jason and his team have recommended a range of covers for us for over 20 years now and they have served us well with our changing needs over that time. From the outset we have been great believers in having "peace of mind" from our insurance portfolio and felt that the covers recommended were appropriate for us over that period.

We have always had confidence in the GPA team and the annual planning meetings are a useful tool to us to ensure our strategies through our life stages are sound.

Many years ago, we experienced a potential claim event and GPA advised us to lodge a claim back then, to ensure that the insurers had appropriate notice of a potential claim later. This advice proved invaluable as an actual claim event ultimately materialised. Throughout the claim process, GPA were supportive of, and directly involved with the claim helping to guide us through the process and were focussed on ensuring the most appropriate outcome was achieved. Having GPA take the lead with the claim allowed us to focus our time on other important matters.

As with any insurer, there were a few hurdles to overcome and Jason and his team were highly attentive and tenacious to ensure that the outcome of the claim was correct.

After contributing to the insurance premiums over so many years it was pleasing to achieve an outcome that gives us further comfort in knowing that we can manage future costs as and when they arise.

The GPA team have been exemplary in supporting us during the recent claim, using their detailed knowledge and experience to achieve a result that we couldn't have done alone.

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Transitioning to retirement