Retirement & Financial Planning

Planning for retirement is something that many people leave too late.  At wise Accountants we help our clients face the many issues to be considered and not leave things to chance.

It’s a common misconception that retirement planning should only be done in the period immediately before someone is about to retire. In reality, at least five to 10 years before clients retire is the time to critically assess whether they can afford the retirement lifestyle they envisage.

With retirees these days needing to fund at least 20 years of retirement on average and potentially much more, the challenge is how to do it.

Reliance on the age pension could mean retirement is a less than enjoyable experience for those who want to maintain a certain standard of living.

Before working out how much is needed to fund retirement, clients need to set goals and determine how they want to spend their time in retirement. Without these goals, it is difficult to estimate how much income will be required.

A retirement income goal of 60 per cent of pre-retirement income is a common benchmark.

For many people, the bulk of the income they require in retirement will be generated by the savings they have been able to accumulate during their working lives.

Considerations we cover in retirement planning:

  • superannuation;
  • income streams – pre and post retirement;
  • insurance, including income protection;
  • Centrelink entitlements; and
  • estate planning.


With concessional tax rates, superannuation is one of the most attractive retirement savings vehicles available. Investment earnings within a super fund are currently taxed at a maximum rate of 15 per cent.

Wise Accountants Pty Ltd is a Corporate Authorised Representative (339450)
of Synchronised Business Services Pty Ltd ABN 33 007 207 650
Australian Financial Services License Number 243313

Synchronised Business Services Pty Ltd
AFSL No:  243313
ABN:  30 007 207 650

Telephone: 61 03 9328 3900
Level 1, 65 Palmerston Crescent
South Melbourne VIC 3205