Can I retire yet?

For the majority of clients who are still working and in their late 50’s/early 60’s, this is the ultimate question we are here to answer.

Sometimes the answer is yes, you can afford to retire if you want, or maybe reduce your hours and/or do something different, and this is how best to go about it.

Sometimes the answer is no, you can’t afford to retire, but if you do this, this and this over a period of time, then you are more likely to be in a position to be able to wind down in the possibly not too distant future.

Financial Planning is a process. 

It starts with understanding your current position, such as do you own your home, do you have a mortgage, and if so how much do you owe and what are your current repayments. How much do you have in the Bank, how much do you have in Super, what other assets do you have, such as maybe some Shares, or possibly an investment property?

What are you currently earning, are you contributing anything extra to Super, and then the most important but also most difficult question, how much are you spending, and are you saving? 

It is important to note that we are a non judgmental team. As well as your information being confidential, always, we are not in the business of deciding where and how you choose to spend your money, whether you are rich or poor, smart or crazy, we welcome all to Lammermoor Financial Planning! If we want to do a good job, and help to ensure that your assets look after you for the rest of your lives, we do eventually need to have a good handle on this cost of living question though, as well as the other information set out above.