Finally… An Honest & Ethical Retirement Planning Solution For Hard Working Pre-Retirees!
Over the past month or so…, you may have noticed a new – modern – fresh look and feel in our client communications and correspondence….
As part of our businesses evolution, we have decided to re-name & re-brand and are now trading our financial planning firm as ‘The Empty Nesters Advice Group’.
This new business name aims to more accurately reflect the type of financial planning, retirement & business succession advice that we provide for you. Further, it will also allow us to modernise and refresh the way we market & grow our business going forward. Although visual changes will take place, you can expect that the level of professional and technical advice and service provided will remain second to none!
Truth is, we do our very best work helping hard working, busy professionals & families who are looking forward to their retirement in the next few years. It’s what you have told us you want most – and that’s exactly what we’ve delivered!
Our specialty is helping people like you who have worked hard all your life and want to retire in style – but you feel like you can’t – because your superannuation and retirement plans have either been neglected, weren’t structured correctly or perhaps hasn’t had the ‘TLC’ it deserved…. This often leaves people stressed & concerned about how – and when – they will be able to retire in comfort.
Our mission is to work with YOU personally to map out the lifestyle you desire and then use our expertise to design a simple – yet effective – step by step plan to help you clear your debt, boost your super, reduce your TAX and implement SMART Retire Readystrategies…!”
Think about your own situation and retirement plans (or lack of them….) and consider whether a complimentary VIP ‘Empty Nesters Fast-track to Financial Freedom’strategy session would help you make better choices.
Be sure to make contact if you’d like to meet.
It could be the best financial decision you’ve ever made….
P.s. I hope you can tell that we’re excited (pumped really) about our new vision & direction and we want you to be part of that journey as well. That’s why we developed the VIP ‘Empty Nesters Fast-track to Financial Freedom’ strategy session – designed to make sure that you are making the most of your retirement planning and make ‘every post a winner’ to get you retirement ready! Think of it as your own personal retirement ‘second opinion’.
You’ll be amazed what we can cover off in just one hour….
Transition to Retirement – How I can have more money when I Retire…
A Transition to Retirement will allow you to potentially put more money into super, pay less tax or even reduce your work hours whilst earning the same income, more for you in Retirement.
Download The Abundant Retirement Transition Guide free.
Income Protection Premiums are a Burden…
You’re earning good money in your trade or as a miner moving towards your retirement.
You’re paying for your income protection insurance, however you feel the expense is becoming a burden as your premiums continue to increase each year, you’d rather put the money in the bank, but you’re also worried if you cancel your cover you have no protection.
Are you aware retail companies now allow you to split your benefit so that your super fund pays around 80%, whilst you only pay 20% directly, allowing you to maintain all the comprehensive benefits of a policy owned out of super, reducing the burden on your cash flow.
You’ll also find from the age off 55 onwards there are strategies allowing you to put more money in super to help you off set your insurance premiums paid from your super fund, whilst at the same time being able to maintain the same take home pay.
If this is you and you want to know more on how to save on premium costs, whilst maintaining a comprehensive policy, contact us to talk to an expert today. firstname.lastname@example.org
One size Insurance policy does NOT fit all…
Income Protection vs Salary Continuance….
Typically, an Income Protection policy will insure your gross income up to 75%.
Most people insure assets like their cars and contents, but don’t insure the most important asset that they own – THEMSELVES and their ability to earn an income!
Here’s A Good Stat….
Do you know, a 30 year old earning $80,000 p.a. to age 65, will generate an accumulative income of $2,800,000 over their working life…? Yet, we mainly only insure our small and/or depreciating assets such as your car? Interesting isn’t it!
Your ability to wake up in the morning, get work clothes on, go to work and earn an income is one of the most financially important things in your life. It makes sense to get this right!
Tell Me More – What Are Some Details…?
Ok, you have a choice of Waiting Periods – which is the duration of time you elect to be off of work before your income protection policy commences. So for instance, if you chose a 30-day waiting period, you need to be off work for 60 days before your benefit payment will ‘kick in’. In this situation, you would not receive your monthly benefit until the end of 60 days. Generally, the longer the waiting period, the cheaper the premium.
You then have your Benefit Period. This is the time frame a claim will continue to pay you a benefit in the event you are unable to work. These generally range from either 2 or 5 years or to age 65 (our working time frame), with some companies offering cover to age 70.
There are additional benefits you can add to your policy, such as insuring your Super Contributions, having your monthly benefit Indexed each year whilst on claim or the Accident Option. This may be beneficial for Tradies or people in more active occupations! Lets be honest, you just want to get back on site so you can continue to work to finish the job, so you can get paid. The accident option, generally pays you 1/30 of your monthly benefit. This way, you can receive a payment in between your waiting period, so that if you go back to work before this time frame, at least you will still receive some payment, rather than nothing.
Do I Have Options To Set My Cover Up?
There are generally 3 ways you can structure your Income Protection cover.
1. You can place this cover within your super fund. This is called Salary Continuance. Due to legislation with a policy in super, you will generally only receive your month benefit (no additional benefits), and your policy will have standard policy wordings and basic cover. Your income isn’t guaranteed, so you will need to supply financial evidence if you make a claim. So, if you insure $100,000 income, but you’re only earning $80,000 at the time of claim, you will only receive a benefit based on $80,000. Salary Continuance is generally cheaper but you get what you pay for….
2. Owning a policy in your own name, is generally a must for all self-employed people. This is proper Income Protection. This ownership option allows you to guarantee your insurable income, set up comprehensive benefits and also claim a tax deduction for the premiums paid for your cover. This is a great option to get some additional tax advantage. Generally, Income Protection is a more superior policy than one owned in super and whilst it can cost a bit more, it is usually worth paying for better quality cover….
3. The other option here is that you can now split your income protection benefit, so that a portion is owned by your super fund, and the other portion owned by you. This option allows you to still achieve the same benefits an income protection policy offers owned by you, but allows you to have generally 80% of the premiums deducted from super whilst you pay the remaining 20% and claim a tax deduction. This option allows you to affect a comprehensive policy, whilst reducing your out of pocket expense. Keep in mind, only a few super funds allow this option to be funded from your super fund.
One size definitely does not fit all when it comes to insuring your income. So if your income is important to you…, you should ‘Private Message Me’ to work out the most efficient and cost effective strategy to ensure your family continues to receive income – even when you can’t earn it yourself. This is a big one. Don’t ignore your income….
‘5 STEP’ FINANCIAL PLANNING PROCESS