At TurnKey Financial Consultants, we advise people pending retirement, in a wide range of circumstances. Tony and Katherine sought our advice when they were closing in on their pending retirement. While Tony was ready to retire straight away, Katherine was looking to work for another year.
Much of our advice looked at retirement income planning, with a particular focus on how best to structure their existing investment and super balances to minimise their tax payable, as well as maximising their Cen- trelink Age Pension entitlements.
We were also able to minimise the tax that Katherine paid during her final year of work through a transition to retirement (TTR) strategy.
As part of our advice, we investigated both of their existing superannuation arrangements and following this review we identified that they would both save around $1,945 per annum as a result of switching their super providers to a more competitive offering.
Tony and Katherine now enjoy a tax free income in their retirement years, and we continue to provide them with peace of mind through our ongoing administration, portfolio management and financial advice services.