Anna is 58 years of age and has been working for the same company for 10 years. Recently her boss retired and she doesn’t get along with her replacement, it’s just not the same anymore. She’s started to think about whether retiring slightly earlier than she had planned would be a possibility but doesn’t know where to begin to understand how to make that work.
A friend suggests she speak to someone who can help her weigh up all her options and make an informed decision, sooner rather than later as it’s starting to get her down. After a little research online, she comes across Treysta and gets in touch.
Anna speaks to an adviser and asks the following questions:
- Can I afford to retire at age 60?
- Or might I be able to work reduced hours until age 65 and draw a part pension?
- When can I access my superannuation?
- Can I take out a lump sum to kick off retirement with a trip to Europe? If so, are there any tax implications?
- In the long term can I access a monthly payment to replace my salary and how much might that be based on my current position?
These seemingly complex questions were easily addressed and by empowering Anna with the financial and factual information she needed, she was given the ability to make confident decisions around her work choices and begin the process of designing her idealised retirement.
- Having a clear understanding of the financial implications of reducing her hours until 65.
- Knowing the trade offs she may need to make if she was to retire at age 60.
- Clarity around when she can access her superannuation and the implications of taking a lump sum when she retires.
- Feeling confident with the knowledge to make an informed decision about when and how to transition to retirement, giving her complete peace of mind.
What’s your Money Moment?
Share your moment with us.