+64 4 471 0662 
Financial Time Line
Age 60 plus
Typically you may be:
- you are retired, or transitioning to retirement, either by working part time, or know that retirement is only 5 years away.
- you have more time and money for travel overseas
- your quality of lifestyle is important
Your Advice Needs
- Review Your Insurance (Risk Management) Programme: Unless you have level term insurances as you get older your insurance premiums have probably become unaffordable. Reason, there is a higher probability that you will make a claim!
Policies such as income protection insurance usually only cover you to age 65. Depending on your insurance provider there are options to consider for medical insurance and trauma insurance.
Request a meeting with Alison Renfrew, she has 26 plus years in insuring clients. You need to have an experienced adviser review your current insurances.
Click here to email or phone Alison now on 04 471 0662.
Insurances to review are:
Trauma insurance
Medical insurance
Suggested areas of our web site to investigate
Insurance needs calculator
- Retirement Savings: If you haven't quite retired or are working part time its time to get really serious about retirement savings. You will not be able to access your Kiwi Saver fund until you are over age 65 or over the age of 65 and you have made a minimum contribution of 5 years.
Australia has already announced an increase in retirement age to 67 and this is currently a hot topic of debate in New Zealand. Its estimated just a 2 year increase in retirement age could save the economy $100 billion over 30 years.
It would be prudent to seek a review of your investments and how to restructure your portfolio to provide your income needs and reduce risk.
Suggested areas of our web site to investigate:
Retirement Calculator
Already Retired
Retirement Planning
Asset Testing and Rest Homes
Asset Rich Income Poor
- Investment Risk/Return Profile: Your investment risk/return profile would now ideally be 'balanced', refer to investment risk/return calculator.
Remember you do not stop investing as even at age 65 you have maybe 25-30 years ahead of you. Your investment risk/return profile should be wound back. That is, there should be a greater exposure to fixed interest investments in your portfolio. It is important to have growth assets within your portfolio as inflation is one of your biggest enemies to maintaining financial independence in retirement.
We can structure your portfolio so that there is still a regular amount being banked into your everyday cheque account to replace your salary cheque.
If your savings portfolio is above $100,000 then we recommend a more sophisticated investment management system using a wrap account that will give you access to wholesale fund managers, direct fixed interest and shares. This is a fees for advice approach and there are some direct tax advantages in how the portfolio is structured.
Golden Rules of Investing
- Estate Planning Issues: In addition to making sure that you have wills you should consider the
impact of:
The Property Relationships Act
Family Trusts
Enduring Power of Attorney
Disclaimer:
Advice given on this page is of a general nature. You should discuss your personal and specific situation with an experienced Lyfords adviser. We accept no liability for the advice presented here, please refer to our disclaimer for the use of this web site.