Have you thought about what your life will look like when you stop working? Planning for retirement can be overwhelming and the decisions you make now can have a big impact on your life post-work. Sometimes seeking advice is about finding out what you don’t know so you can explore your options – and understand what will suit you best, and why.
Getting financial advice can also give you peace of mind that you’re making the most of your savings and help you avoid taking risks you’re not comfortable with. Your finances can be complex, so being able to ask questions and get expert recommendations can make all the difference.
Everyone’s financial journey is unique, so it’s important to get financial advice that’s right for you. Advice should be provided in a simple uncomplicated way that you can understand. It should help you to get a clear picture of your own financial situation and set your goals.
Vision Super Financial Planners are qualified and authorised to give personal advice under an arrangement Vision Super has with Industry Fund Services Ltd (IFS) (AFSL no: 232514). They offer access to a range of advice services, including personal advice on both super and non-super topics, and don’t get paid commissions or bonuses.
You could start with an understanding of where you currently are, exploring strategies to improve your financial management or help you pay down debt, or advice on maximising your super contributions in the lead up to retirement. An adviser can also help you reach your goals of retiring comfortably and give you a practical approach to ensure your money will last through retirement.
If you’re a member of Vision Super, simple advice on a single topic is usually available at no extra cost (because it’s included in Vision Super’s administration fees and costs). This type of advice is generally limited to queries about your Vision Super account.
Examples of limited advice available at no extra cost
- Choosing which investment options are best suited to you
- Contribution strategies to help reduce tax and grow your super
- How much to salary sacrifice to meet your retirement goals
- Setting up a Vision Super income stream to fund your retirement lifestyle.
Some personal advice we give you will involve a cost because it is more comprehensive, or it doesn’t relate to Vision Super. This type of advice can be tailored to your whole financial situation, not just your super.
Examples of comprehensive advice
- Detailed retirement projections, encompassing your full financial position, to help you understand how much you will have to spend and when you can afford to retire
- Beneficiary and estate planning advice to help you draft your will, choose your power of attorney and more
- Comprehensive retirement advice to you, and a non-member spouse, considering investments inside and outside of super
- Wealth creation and investment strategies in line with your appetite for risk
- Advice on home downsizing and aged care.
Once your financial planner understands your objectives, financial situation and needs, they’ll clearly inform you up front what the cost will be. You must agree on what advice you wish to receive and the cost (even if it involves no extra cost) before the financial planner can proceed, and you can always choose not to go forward – in which case there will be nothing to pay. As with all planning and strategy development, it is important to regularly review your strategy to ensure it’s still in line with your goals.
If you’d like to find out more about the different advice services, visit visionsuper.com.au/book-an-appointment to request a meeting and a Vision Super Financial Planner will be in touch. You can also make a booking by calling 1300 300 820, Monday to Friday between 8:30am and 5:00pm.
*This information is general advice which does not take into account your personal financial objectives, situation or needs. Before making a decision about Vision Super, you should think about your financial requirements and consider the relevant Product Disclosure Statement and Target Market Determination. Issued by Vision Super Pty Ltd ABN 50 082 924 561 AFSL 225054.
