Think you’re too old to start a business? Think again. The 55+ age bracket is the fastest growing demographic for launching a new business and proves that age is no barrier to entrepreneurship. A recent US study found that almost 40% of Baby Boomer respondents indicated they were interested in starting a business or not-for-profit in retirement. And why not! Retirement provides a wonderful opportunity to pursue your passion on your own terms and earn an income in the process.Read More
Two of the biggest fears for Australian Baby Boomers in preparing for retirement is coping with unplanned financial expenses and outliving one’s savings. Despite this many retirees don’t have a budget. They worry about money but don’t have a plan of action to counter that fear.
Why are we human beings so resistant to developing a budget?Read More
If your wildest dreams came true, where would you choose to live your retirement? Interestingly not all of us would choose to remain where we are even if it meant being further away from loved ones.
Whilst endless summers, brisk mountain air or simply living debt free may seem like nothing more than a pipe dream, a retirement abroad is becoming more common than you may realise.Read More
Our first priority when we think about retirement planning is ensuring that we have our financial stock in order. Your retirement portfolio might include savings, assets, investments and perhaps a plan to draw a pension. Without a doubt, robust and informed financial planning is critical to a successful retirement in that it positions you for greatest flexibility in terms of how you live your life after work. But it is not the only piece of the retirement readiness puzzle to consider.Read More
Is it possible to spend too much time together in retirement and can this have a negative impact on our wellbeing? This is a topic that came up in a recent discussion with a good friend and Financial Planner, Christie Spence and rather than let the discussion slide, I switched into interview mode to understand her perspective having worked with clients preparing for retirement for over 15 years. In this article we explore a challenge that many couples experience when embarking on retirement – working out how to be together in life after work, and Christie shares her suggestions for navigating this transition successfully.Read More
In planning for retirement, I bet there are plenty of items on your to-do list! They might include travelling, playing golf, bushwalking or taking up cycling. Most likely there are some assumptions built into that list, for example that you will have good health, that you'll be mobile, that you'll have the funds available that you expect.
It is not unreasonable to expect these things, but what are you doing today to help ensure that they are the case? Too often we get caught up in the busyness of life and put off those appointments we know we need to make. We think “yeah, yeah I’ll get to that tomorrow”. Suddenly six months have passed and we still haven’t been to see the doctor, the dentist or the skin specialist.Read More
It’s a theme that comes up with some regularity as I work with women to prepare for the transition into retirement- women who have great plans for retirement but just don’t know if or when they’ll be able to afford those dreams. They want to be able to write that novel, travel the world or retire early, but when I ask “what’s stopping you” they admit that they have no idea what their financial position is. Not only that, but these women seem to avoid finding out. Perhaps they fear confirmation that they will need to keep working or perhaps they don’t know where to get informed advice.
The challenge is that until you know your numbers, it’s difficult to take meaningful action. Knowledge is power and understanding your financial situation can only help to increase your financial confidence, your sense of optimism about your future and your ability to achieve a fulfilling and meaningful life after work.Read More
It’s an interesting thing. A number of women I speak with are worried about not having enough money to live comfortably in retirement and yet don’t know what their financial position is. They don’t know what is possible and whether they are under or over-estimating their fears. It’s no wonder there can be a sense of anxiety about transitioning into retirement! With this in mind, I sat down with Michelle Millsom, Authorised Financial Advisor and Director at Watermark Financial Services to find out what we, as women, can be doing to set ourselves up for our most financially comfortable retirement.
If a lack of financial awareness is niggling away at the back of your mind, read on as Michelle shares some great advice.Read More