Approved Financial Planners announces a Transition to Retirement financial adviser service for Western Australian pre-retirees aged 60 and above, offering complimentary consultations to help individuals access superannuation while working.
-- Approved Financial Planners has announced a Transition to Retirement strategy guide and service for pre-retirees in Western Australia. The Perth-based firm's 'Transition to Retirement financial adviser' service targets individuals aged 60 and above who have reached preservation age, offering tailored guidance on accessing superannuation while continuing to work. A complimentary 30-minute consultation is available to help Western Australians determine whether a Transition to Retirement Income Stream aligns with their financial circumstances and retirement goals.
More information is available at https://www.approvedfp.com.au/services/retirement-planning/
The announcement addresses a growing planning gap among Western Australian pre-retirees, who estimate needing an average of $1.99 million for a comfortable retirement according to recent survey data. This figure exceeds the national average of $1.91 million. Despite these elevated expectations, fewer than 40 per cent are actively planning for retirement. Compounding this challenge, four out of five pre-retirees find retirement planning complicated, with 40 per cent describing the process as very or extremely difficult, according to research institute findings. These converging pressures underscore the need for accessible, region-specific financial guidance as Western Australians transition from full-time employment to retirement.
A Transition to Retirement strategy enables eligible Australians who have reached their preservation age (currently 60 for those born after 30 June 1964) to access part of their superannuation through a Transition to Retirement Income Stream while remaining employed. Unlike standard account-based pensions, a TRIS imposes annual withdrawal limits between 4 and 10 per cent of the account balance, creating a supplementary income stream that supports reduced working hours without sacrificing lifestyle. The strategy offers three primary benefits: allowing individuals to cut back on work while maintaining cash flow, increasing retirement savings through salary sacrifice arrangements, and improving tax efficiency by potentially lowering taxable income while accessing tax-free pension payments for those aged 60 and over.
Professional financial advice plays a critical role in optimising these strategies and building retirement confidence. Industry research indicates that 77 per cent of pre-retirees who have engaged a financial adviser feel prepared for retirement, compared to 45 per cent of those who haven't. The effectiveness of a TTR approach depends on individual factors including age, employment status, taxable income, and superannuation balance. Poorly designed strategies can inadvertently reduce retirement savings or create tax inefficiencies, making personalised modelling and scenario analysis valuable tools to ensure that accessing superannuation early genuinely improves retirement outcomes rather than simply depleting savings prematurely.
Approved Financial Planners, based in Floreat in Perth, brings over 20 years of combined experience in providing strategic financial advice to Western Australians. The firm's 'Transition to Retirement' financial adviser service consolidates this expertise into a structured offering for pre-retirees who face the complexities of superannuation access, salary sacrifice, and tax planning. By focusing on the needs of individuals aged 45 and above, advisers address both the financial mechanics and the emotional adjustments associated with transitioning from full-time work to retirement.
Western Australian pre-retirees can access financial advice relating to the Transition to Retirement strategy and personalised planning options by visiting the Approved Financial Planners website and booking a complimentary 30-minute consultation. Because every individual's circumstances differ (from superannuation balances and contribution caps to employment arrangements and lifestyle goals), tailored financial planning remains necessary. A well-designed TTR strategy can improve retirement outcomes, boost confidence, and provide a practical pathway from full-time employment into the next stage of life.
Further details are available at https://approvedfp.com.au
Contact Info:
Name: Daniel Stevens
Email: Send Email
Organization: Approved Financial Planners Pty Ltd
Address: 7/437 Cambridge St,, Floreat, WA 6014, Australia
Website: https://approvedfp.com.au
Source: PressCable
Release ID: 89201273
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