The road to retirement
If you're like most people, your super is one of your largest assets outside the family home. You want to ensure you're maximising opportunities to grow your super savings so you can afford the lifestyle you want when you finally retire. Ultimately, it's all about making sure you're invested in the most suitable way, given your tolerance for market volatility and the length of time your money will be invested before you need to access it.
So what are some of the key milestones to keep in mind?
Ten years from retirement: If retirement is 10 years away (or longer), you may find you have a higher tolerance for market volatility and are prepared to accept higher investment risk for potentially higher returns. If markets fall, your money may still have sufficient time to recover before you need to access it. At this stage, you should consider wealth accumulation and investment strategies that will help you grow your savings, depending on your individual and lifestyle objectives. If you're still contributing to SASS, you should review your savings progress to ensure that you'll optimise the size of your employer - financed benefit.
Five years or less to retirement: At this point, you should revisit your investment strategy annually. As retirement gets closer, your appetite for market volatility and your need for capital preservation – rather than capital growth – are likely to change. If you're invested in a higher-risk Growth Strategy, you should consider whether this is still the most appropriate option for you. Think about what you want to achieve in retirement. Understanding yourself and what you want to achieve in this upcoming phase of life are essential prerequisites to a successful financial plan.
Deciding what's right for you
StatePlus is available to provide you and your family members with expert financial planning advice. A StatePlus financial planner can help you review your investment strategy, and choose the most suitable strategy for your circumstances.
As a SASS member, you and your family will have access to a range of services from over-the-phone advice to face-to-face meetings with a professional financial planner.
How much will I pay?
At StatePlus there’ll be no surprises when it comes to what you pay. The fee you pay will reflect the advice you actually need and the level of service that you want.
- Your first appointment with a planner is without cost or obligation
- StatePlus will explain how much your advice will cost in your first meeting with them
- StatePlus won’t charge you any fees until your financial plan is finalised and you have provided your explicit agreement to action that plan
- If you are a contributing or deferred member and you only have questions about your State Super scheme choices, or how to make the most of your scheme, then the advice will be provided at no cost to you
For more information about StatePlus services, or to book an appointment, call 1800 620 305 or visit www.stateplus.com.au.
Note: State Super Financial Services Australia Limited, trading as StatePlus, is the holder of an Australian Financial Services Licence 238430, ABN 86 003 742 756. StatePlus is a ‘for profit’ financial services organisation which also provides financial planning advice. As of 6 June 2016, StatePlus is wholly owned by FSS Trustee Corporation (ABN 11 118 202 672 and AFSL 293340) as trustee of the First State Superannuation Scheme (ABN 53 226 460 365). StatePlus has its own Board and Management team. State Super does not pay any fees to StatePlus for the financial advice and member seminar services it provides to State Super members. State Super is not a representative of StatePlus and receives no commission when making referrals to StatePlus for financial planning services. Neither State Super nor the New South Wales Government take any responsibility for the services offered by StatePlus, nor do they or StatePlus guarantee the performance of any service or product provided by StatePlus.
