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The effects of the market on superannuation savings


Financial Planners in Sydney will probably agree that retiring during a slump in the market can mean that in a hypothetical scenario, what had been planned to last, say, 30 years may only last, say, 15 years. Superannuation planning is a way to help combat and protect your retirement funds from the largely unpredictable nature of the global and domestic market. An experienced Financial Advisor can help to structure your investments in a manner that suits your needs and objectives.

The market can have a profound effect on superannuation savings. Take the following hypothetical example:

Sandra, who has just reached the retirement age, has over $500,000 in superannuation in preparation for retirement. She retires from work, celebrates with her colleagues and feels confident about her life in retirement. All of a sudden, the economy crashes and the share market is now only worth 50% of what it was worth a couple of days ago. Out of the blue, Sandra’s superannuation is now only worth $250,000. If Sandra needed to draw down $30,000 per annum to fund the standard of retirement that she had desired, she will now only have funds for about 10 years.

Market fluctuations can have a devastating effect on superannuation. A Financial Planner can help to minimize the impact of the economy on your superannuation and help you secure your future.

You should consider speaking to one of our Financial Advisers about your superannuation and retirement plans. We can help you structure your investments in a manner that suits your needs and objectives.  Contact our office on (02) 9233 4048 to arrange a free home consultation with an experienced Financial Planner. We service most suburbs in Sydney, including Parramatta, North Sydney, Artarmon, Bexley, Hurstville, Balmain, Randwick, Mascot and Kingsford.

 

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