After you stop working, you can find yourself with time to do the things you may not have been able to do before, like travelling, volunteering or spending more time with loved ones.
As you adjust to this new lifestyle, you will need to think differently about your finances.
In retirement, your priority typically changes from saving in preparation for when you leave the workforce, to carefully spending those hard-earned savings.
It really is time to be smart about a sustainable income streams that can weather volatility.
Income from various sources can be ‘layered’ to meet your income requirements. This can be set up so that more secure income, such as from the Age Pension or an annuity; can cover your essential costs of living, while your income from other sources can fund your discretionary spending.
More than one investment strategy and product may be required, so it’s important to receive professional help from a financial adviser - it can make all the difference to your financial success in retirement.