Retirement Strategies
Ellerfield Financial Planning has many years of experience in the retirement planning market.
Retirement income refers generally to money that is required to fund the cost of living during retirement. It can be derived from a number of sources including government pensions, returns from investments (including interest, dividends and rent) and from retirement income stream investments that are specifically designed for retirees.
Australians have been encouraged to change the way they invest their retirement savings. By providing incentives in the form of tax concessions and social security benefits, the Government has encouraged Australians to make investments that produce regular, long-term income streams more attractive to retirees.
The effect of these initiatives has been to create genuine taxation and social security benefits for retirees who invest a portion of their capital in investments that generate a long-term income stream. And these incentives have spawned a new generation of powerful financial planning strategies for retirees.
The most popular types of retirement income stream investments are allocated pensions and immediate annuities. An allocated pension / term allocated pension offers a tax effective way of generating a regular income stream with your superannuation benefit. Whereas an immediate annuity offers you the comfort of a guaranteed income stream in exchange for a lump sum investment which can be either superannuation money or ordinary savings but which is generally committed for the term of the investment.
If you would like to discuss this service further please contact us or call your local Ellerfield office
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