Finance impacts different age groups differently. Here are some advice and guidance for senior people to do by the time they are 60 :-

• Know how long your savings will last.

• Clear all debts and pay off your mortgage (don’t use Super funds to pay out the home loan and/or other bad debts).

• Lower your living costs.

• Check your Centrelink entitlements.

• Draw up a Will and have a good Estate plan.

• Keep your advisors close, i.e accountant, lawyer, financial advisor etc.

• Maximize the value of your family home (explore the option of selling, downsizing and/or funding your retirement with the proceeds).

• Look into retirement living options.

Planning ahead in your senior years can help you achieve a better lifestyle and be in greater control of your assets, finances and well-being.

Paul & Associates have meaningful experience in this aspect of finance and financial planning, with access to different specialised associates who can provide the right care and level of engagement to help you transition. Call us today.