Retirement finally back on the agenda
Over 55s have finally recovered from the post-Global Financial Crisis (GFC) malaise that prevented them from retiring, an SMSF adviser says.
The conversation with SMSF trustees has shifted markedly from one of capital preservation to retirement planning — a sign of economic positivity, according to Crowe Horwath's head of superannuation and SMSF, Susie Salmon.
"The last few years have been difficult for SMSF trustees, concentrating on rebuilding the capital base of their funds," she said.
"This focus on re-accumulating funds lost during the GFC has led to many trustees not having the time to properly plan their portfolios for retirement."
Regardless of the economic climate, Salmon stressed the importance of assessing retirement readiness and employing strategies such as superannuation consolidation to reducing the taxable component of retirement income.
The advice follows the roll out of a series of Crowe Horwath events across Australia to help future retirees plan for the next few years. Further events are scheduled early next year.
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