Inflation and Retirement Planning

Planning well for retirement is one of those things we all know we need to do, but where and how do we get started? Retirement is one of life’s big changes, and by definition, almost no one goes into it with any experience. So many questions to ask. So many questions we may not even realise we need to ask. And today there needs to be consideration given to inflation and retirement planning.

Answering the Questions of Inflation and Retirement Planning

The answers lie with trusted professional advice. An experienced guide like Horizon Wealth Advisory can see you through this sometimes-daunting process, answer your questions, and give you the tools and confidence to enter into a successful and enjoyable retirement.

When Should You Start?

It’s always a good time to plan for retirement – even if retirement is not immediate, and especially if planning is something that’s been put off. You can begin the process by contacting a retirement advisor at Horizon. You can book an appointment online, call us on 0439 345 561, email us at info@horizonwa.com.au or you can get in touch online for general enquiries.

The Impact of Inflation on Retirement

We all know that prices seem to keep going up. As long as we’re working and earning, we can usually keep up, and we can look forward to raises and bonuses to provide a cushion against inflation. But what happens when income depends on alternate sources that may not increase in the same way? Today more than ever, inflation and retirement planning go hand in hand.

Downsizing in Order to Grow

Retirement can be a doorway to a new lifestyle. Our needs and priorities change. It may be time to concentrate on new experiences rather than new acquisitions. Maybe there is somewhere you’ve always wanted to go, or a vocation you never had time for when chasing a busy schedule. Living a little more for yourself and those you love can be very satisfying.

When the kids are launched and, on their way, a matured asset like a big house may not be needed any longer. Realising the gain from selling is often a steadfast anchor for continued security and new opportunities in retirement.

Stepping Outside

We’re all accustomed to our routines. They support and reassure us. Retirement means giving up the familiar structure of the job and many of its social aspects. Since we are now a bit footloose, why not take it a step further and investigate a new location that may not be as expensive as where we have had to live in order to be close to the job and career? This idea may involve family and other considerations, and may not be an effective inflation and retirement planning strategy for everyone, but when appropriate and successful, it can result in considerable savings over time.

Investment Options

You may be in a position to diversify into investments that will provide a steady cash flow to support your retirement years, even in the face of continued inflation. This can be very challenging to keep up with when you are focusing on your career. Retirement brings the free time to look at this aspect of your potential future. You’ll need experienced advice, and it’s best to work with qualified financial planners with access to a wealth of options for investment planning.

Property

You may be able to put inflation to work for you with ownership or partnership in property and real estate. This is a proven method to grow wealth and security in retirement, and it can be a great hedge in inflation and retirement planning. There are many critical aspects to this approach, and a lot of questions to answer in order to know if it will be right for you and your situation. A knowledgeable property investment advisor can help you answer those questions and put you on the right path.

Putting it All Together

These are just some of the ideas and considerations you’ll want to review as you move toward retirement. Working with an advisor with broad knowledge and experience will make it all so much easier – giving you time to enjoy your new life rather than worry about the details of income and inflation.

Contact Horizon Wealth Advisory to Take the First Step

Take the first big step toward a secure retirement future with Horizon’s trusted Brisbane financial advisors. Contact Horizon to book an appointment, email us at info@horizonwa.com.au, call us on 0439 345 561 or get in touch online. Every retirement is different. Horizon Wealth Advisory looks forward to discussing your particular situation and your personal goals. Now is the time, and Horizon is ready to step up.

This article has been provided in partnership with Retirement Now retirement guides.