26 Sep Top Tips For Investing In The Retirement Phase
Investment of your Superannuation is not just for those people who are still working. Your Superannuation should continue to grow throughout your retirement so that you can continue to protect your lifestyle from inflation and longevity – The biggest risk many Australians face is outliving their super!
While your retirement may seem a long time off, there are things you can consider when making investment decisions now so that you are still earning in retirement.
Top tips for growing your Super in your retirement phase:
- Know how much you will need to live in retirement. Knowing how much you will need to live on each week and year will allow you to know how much you can re-invest and grow in the meantime.
- Plan your investment strategy on how much you need. Depending on how much you will need each year and how much Super you have, it may be necessary to keep much of your investment money in highly liquid assets so you can take the money out as soon as possible. Assets like property and term deposits cannot easily be sold so if you need the money quickly.
- Invest in what you know. As with investing before retirement the most important investment strategy is investing in what you understand. The risky thing you can do is invest in something you don’t understand and do not have the time to learn about it.
Learn more about building your retirement, investment types and setting your post-retirement strategy at one of our upcoming SMSF Information Nights held across Australia.
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