Once we have a better understanding of what the retirement lifestyle is that we desire or are planning for we can turn to the numbers and understand how we are positioned and what this means for us and our approach to things such as work, where we live and the family home etc. For many there is a reality gap and some difficult choices may need to be made.

There are some specific risks we need to be aware of and manage as we enter a period where we have less employment income coming in to support our lifestyle.

There are some strategies to better manage the transition that can make a significant difference. In this workshop we explore transition to retirement and income layering approaches to managing some of the risks as we potentially have longer periods in retirement.

Key Insights

• Everyone’s retirement is different

• Risks in retirement include liquidity, rising health care costs, political, longevity, inflation, bad sequence of returns and market volatility

• New risks to manage in retirement

• Use the goals-based income layering ‘Bucket Strategy’

• You don’t have to do it alone, seek advice!

• Whatever your decision, start immediately… time is your enemy.