How to plan for a well-paid old age? That is a question many people ask and the best answer for it is a Self managed super fund.
When it comes to retirement age, comes to mind the question: what now? I prepared enough for this stage of my life? I managed to save a lot of money? How to pay the bills?
These are questions that are considered only when we are retired. The most desirable is, throughout our working life, save and invest a percentage of what we earn to secure our future.
A good retirement is synonymous with financial independence. The sooner it is conquered, the better. But for that to happen, you need to start investing now. The longer you have to invest, the lower the effort throughout life and the greater the accumulated value at retirement.
There are several factors that will influence your decision to start investing to have a quiet retirement. Here are the 5 Practical SMSF Investment Strategy Issues you need to overcome and sort out.read more detailed information at http://www.moneymanagement.com.au/news/superannuation/2015/gap-in-advice-on-smsf
• What portion of your current income you can spare;
• At what age you want to retire;
• How many years are left until the time of retirement;
• What income want to have to retire.
• The greater the contribution, the greater the accumulated value and thus increased income to be received.
Therefore, it is necessary to be realistic when deciding at what age you want to retire and how you will deal with your Self managed super fund, because if there remain but few years to reach the desired age, you need to contribute each month to a very high value in order to maintain your current standard of living.
Some ideas and professionals might help you overcome the issues.
Some analysts believe that, for you to keep the standard of living it has today during retirement, knowing that your expenses will be different in the future, you must receive the equivalent of 80% of current income.
So who has a current income of $ 5,000, probably need somewhere around R $ 4,000 in the future to maintain the same standard of living that has today.
To know how much you have to save now to have a secure retirement in the future, list your current expenses, remove those that think no longer have after retirement (eg, transportation, school children, provision of home, etc.) and add the that does not have today, but that probably will have in the future (health care, medicines, travel, etc.).
Knowing how much will you receive when you are retired, you can make a quote and choose one of several possible combinations of time and contribution of value to calculate the age at which to retire.
To decide the best investment strategy to complement your future income, it is necessary that you know the different options available and decide on the most appropriate to their needs, considering its goals, its resources and its ability to withstand risks. Go to Smsfselfmanagedsuperfund.com.au for suggestions and help.