Wealth & Retirement

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Retirement planning is the accumulation of wealth to provide income and financial security in retirement.  Good retirement planning is both tax efficient and investment effective.

There are many things to consider when planning for retirement such as the lifestyle you want, where you want to live, how much income you will need and the best way to transition to retirement.

We can help you if you are planning to retire soon, are still working but thinking about retirement, or are way off retirement but starting to plan ahead.

Our goal is to help you create a retirement lifestyle that is personally fulfilling and financially rewarding.

Our retirement planning services will help you:

  • Prepare for your retirement
  • Generate retirement wealth
  • Ensure you obtain the maximum tax and social security benefits
  • Secure your assets
  • Provide you with an appropriate income throughout your retirement

We can also provide projections on your income, cashflow and tax position, your expenditure now and into the future and your savings capacity.

That’s why it is essential to plan to ensure you are prepared. We’ll work with you to tailor a plan that meets your retirement goals, providing advice on how much you need to retire on and then tracking your progress against these goals.

Part of all good retirement plans require a robust & structured investment strategy.

Our investment advice will take into consideration your investment timeframe, the purpose of the investment, your comfort level towards investment risk, the market cycle, and tax effectiveness.

We all know we should invest our money wisely but with all the investment choices available it’s hard to know where to invest and what to invest in.  It’s no longer a simple case of shares, property, fixed interest or cash.  There are literally hundreds of combinations of asset categories, across different countries, themes and sectors.

We can talk to you about your investment objectives, both short and long term, assess your current financial position and recommend appropriate investment options based on your individual requirements and objectives in mind.

This means your investments are handled in the most efficient manner possible and ensures your goals are met.

We have access to a wide range of investments which include cash accounts, term deposits, bond funds, managed funds, ASX listed equities, exchange traded funds, international investments and property trusts.

Insurance forms a critical part of the financial planning process, providing financial security for you, your family or your business.

Life is full of unforeseen circumstances which can affect your future plans.  Risk insurance is there to provide you with protection against the financial implications of an event such as death, disablement, serious illness or injury.

We are not aligned to any one insurance provider and can provide you with advice on a range of personal insurance including:

  • Life Insurance
  • Income Protection
  • Total and Permanent Disability (TPD)
  • Trauma Insurance, also referred to as critical illness insurance.
  • Business Insurance – you may need to consider insurances such as Business Expenses Insurance including Key Person and Buy Sell Insurance.

We can assist you in selecting the most appropriate insurance options and providers, as well as reviewing your insurance cover regularly to make sure it remains appropriate to your ongoing needs.

More importantly, we will assist you in the event of a claim.  During what is usually a difficult time, we will represent you and liaise with the insurer to facilitate the assessment of your claim.

Placing a family member into Aged Care is a very big decision and can be very confusing.  As your specialist Aged Care Advisor, we can help you make the best decision moving forward.

Ashfords Wealth Advisory can provide expert advice including analysis of your current circumstances, future income and financial commitments aimed at achieving bond affordability, whilst preserving government benefits and entitlements.

Specifically we will:

  • Provide advice on the affordability of care.
  • Explain your facilities costs – initial and ongoing daily charges, income tested and extra service fees.
  • Advise alternate funding options for your accommodation bond.
  • Maximise your government benefits and entitlements.
  • Ensure Aged Care fees are minimised.
  • Preserve your capital so your money lasts.
  • Ensure you are able to maintain your quality of life.

Centrelink Services

Once you have reached ‘Age Pension’ age and provided you meet basic conditions of eligibility, you may be entitled to receive a pension from the Commonwealth Government to assist you to support yourself in retirement.

Assessing your eligibility for the Age Pension can be a daunting and complicated task, when there are many variables to consider.

Centrelink assess any entitlement to the Pension under the Incomes Test and the Assets Test, but applies the test which produces the least entitlement.  It is a matter of determining which Test applies to your circumstances.

We are able to sort through this maze for you and provide an assessment of your potential entitlement, as well as strategies which you could undertake to reduce the amount of assessable assets or income you hold in order to enhance your benefit or to obtain a benefit.

Estate Planning is an important specialist area within financial planning that needs to be considered in association with personal insurance, investment and superannuation strategies.

It is all too easy to focus on accumulating wealth, but often we forget about the importance of planning for the transfer of wealth to our children or grandchildren when we are gone. Our role is to work with you and your solicitor and/or accountant to develop strategies for the preservation and distribution of your wealth in a way that is aligned with your wishes.

A comprehensive estate plan may include:

  • A Legal Will – This ensures your wishes are clearly documented for your executor and beneficiaries.
  • Powers of Attorney – This document formally appoints someone to look after your finances in the event of a ‘legal incapacity’. E.g. loss of mental capacity, whether temporary or permanent.
  • Testamentary Trusts – This may be built into your Will and lie dormant until you pass on.  Testamentary trusts can provide certainty and tax efficiency for a surviving family in the event of an early death.
  • Enduring Guardianship – An enduring guardian is a person who makes certain lifestyle and medical decisions on your behalf, in the event of totally or partial incapacity.

Estates can be complex and the costs of not having an appropriate and comprehensive plan in place can be extremely high.

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