The Need for Retirement Planning
Posted on: 23 Aug 2015

The Need for Retirement Planning

Consultants at Inception Wealth Group are accustomed to seeing panic stricken Australians approaching their retirements with little or no prior planning of their financial wellbeing. 

Indeed, a very small portion of the Australian population, approximately 5%, plans ahead for their post-retirement days and manage to continue with the same lifestyle that they had been living for the past 60 years. The rest of the 95% end up with severe financial challenges and almost entirely depend on government pensions for their day to day expenses.

This, of course, is a scenario that any self-respecting individual, who has enjoyed financial independence in the past, would find hard to handle both physically and psychologically. Therefore, most retirement planning consultants recommend that financial planning for post-retirement days should be started as early as possible. And they’re not the only ones advocating this either. The Australian Securities and Investment Commission (ASIC) also suggest on their website that almost everyone should seek expert financial advice in some form.

This not only helps individuals plan their retirements in a much more structured manner, but also gives them a very good idea about the most profitable investments and financial modifications that can help them secure a post-retirement life that demands minimum changes from their current standard of living.

Fortunately, with so much emphasis being put on retirement planning, financial consultancy firms like Inception Wealth Group feel that securing post-retirement financial freedom is still very much possible with adequate planning and right investment decisions.

Indeed, there are few consultancy firms better placed than Inception Wealth Group to comment on this matter. As one of their representatives says “We stand in a unique position to help Australians with financial and post-retirement planning. We have not only been able to secure the future of hundreds of Australians through timely consultancy, but our expertise in real estate investments also helps us guide people in making profitable long-term investments.”

Inception Wealth Group Recommends Early Savings and Smart Planning

“No matter who you consult for your financial and post-retirement planning, starting your savings early is one recommendation that you would get from almost everyone”, says a Inception Wealth Group representative. “What we see however” he continued “is that an increasing number of young Australians still do not regard retirement planning and financial savings as an important matter. In our experience, people who start saving early, around their mid-20’s, are usually much more stable financially than those who start considerably late”.

This, however, does not mean you should not start saving right now. Even if you’re one of those who have procrastinated saving money for their old age, you can still make amends for the delay through smart planning and the right investments. But as the Inception Wealth Group consultant went on to say, the more you delay, the harder you’ll need to work for your post-retirement financial stability.

In this regard, Inception Wealth Group offers its clients comprehensive financial analysis and detailed forecasting along with possible investment and saving opportunities. For those who started their savings early on in their lives, as recommended by most financial experts, IWG offers separate plans and guidance that can help them grow their savings even further.

However, for those who started late, the majority of IWG clients, IWG have savings and investment experts who involve the clients in detailed discussions and planning sessions about their post-retirement financial wellbeing.

As one Inception Wealth Group consultant puts it “It’s a matter of priorities. You need to ask yourself how much money you need to live a peaceful and enjoyable life once you retire and move forward from the hectic schedules and commitments of your working life. Correct and timely decisions can make post-retirement the most enjoyable and golden days of your life. The wrong decisions, however, can leave you in a closed alley from where you won’t be able to go anywhere.”

And for this reason, precisely, the large majority of Australians, who are still ignoring the importance of saving early for their retirement days, need to consult with professionals and discuss the different possibilities that can help them secure the part of their lives when employment opportunities are minimal, healthcare expenses usually soar and psychological pressures can take their toll.

Inception Wealth Group was founded by Australians from all walks of life who realized these risks early on in their lives. They came together not only to create awareness of these challenges that most people have to face at some stage of their lives, but also to provide practical guidance and actionable steps that can help such people secure the, supposedly, golden period of their lives. This holistic approach has made Inception Wealth Group one of the leading financial and post-retirement consultants and clearly makes them stand apart from other such consultancy firms.