A decade prior to retirement the mind drifts to a kinder more inspirational life, this is often interrupted by thoughts of how you'll be able to fund this change. Of course, you've already survived some of the financial curve balls life has thrown at you, and you might be thinking that you can get away with putting it off planning for a little longer until you are more comfortable.
I have always thought as time moves on and we gain years, the momentum of life is with us, and we all plan to cruise effortlessly to retirement. However often we find ourselves having to fund unexpected situations. That is why we need to make sure we are prepared for forks and detours in the road, lest we crash at the first obstacle.
Planning for health changes as you head towards retirement age is prudent. Taking steps to ensure you have a safety net in place is even better.
Although Australians can still be grateful that we are in one of the best economies in the world. I have many older clients not far from retirement with less than 200k in super, who find themselves looking at the cost of living and house prices concerned for what lies ahead.
Many find they are working for longer than they had planned taking advantage of casual work in the gig economy. The positives are that in a changing workplace this type of employment is seeing better work conditions than ever before.
So, my advice. Preparation is key, trust thy self, gather around you trusted advisers, and remember money can cushion the landing but it doesn’t buy experience.