Planting seeds for a happy retirement

Principal at St Patrick’s Parish in Cooma, Frances Robertson, has been a member of NGS for many years. As she nears retirement, Frances has turned her attention to her super savings to ensure she is financially prepared. What she wasn’t expecting was to completely transform her perception of superannuation.

Information gathering

With plans to retire at the end of the year, Frances realised she had knowledge gaps about her retirement savings and turned to NGS for more information. ‘I began signing up for NGS webinars. They cover a range of topics, including how to boost your super and protect your wealth. Over the months, I listened to several, sometimes while on the go. It was through the webinars that I began to think more about super, and about what position I’m currently in and where I want to be,’ said Frances.

Over the months, Frances began planning for end-of-career finances, and while she was learning from the webinars, she had questions specific to her situation, including her husband’s retirement plan. It was then she booked a meeting with NGS Financial Planner Maria Maganic. ‘I’ve met with other Financial Planners and have always found it costly and convoluted. This experience was entirely different.’ Frances met with Maria for a complimentary consultation, during which she was able to share her goals and what she was hoping to achieve as she approached retirement. ‘When I got off the phone with Maria, I almost felt like crying with relief. The ease and simplicity of the call made me feel completely reassured. I got more from that initial call with Maria than I have the previous four meetings I’d had with other planners – and they were all paid for consultations.’

In their discovery conversation, Maria and Frances discussed what the next steps would be, how Frances’ husband could also become part of the financial plan, and, most importantly, the timeline. ‘Unfortunately, in my previous experience with financial planners, I felt very pressured to make decisions. What really stood out to me with Maria was that she was completely in my corner and reassuring me that I could and should do everything on my timeline. I really feel like this is so important for people planning for retirement. There is much to consider financially, not to mention the transition out of full-time work. The last thing you need is more pressure. Feeling supported through this has been monumental.’

Knowledge growth

With a scheduled call in the coming weeks, Frances will continue to work with Maria to devise a plan to transition to and be secure financially in retirement. Frances will address all her questions and concerns while continuing to stay connected to the NGS’ resources. ‘I knew that I would need to address my super, but what has happened in the past few months has been a major shift for me. I am actively interested in my superannuation and will continue to access NGS’ resources, including webinars, articles and newsletters, to stay on top of any important information. I now also have this great connection to Maria and know I can meet with her at any point and only pay for the time I spend with her, rather than an annual retainer that many other Financial Planners use.’

Helping others shine

Frances has come to learn a lot about her finances and what she can do to create a comfortable retirement, but there has been another positive outcome. ‘I’ve come to see the importance of younger people paying attention to their super. It’s crucial. I am talking to my daughter about it and am starting to talk more to the teachers at my school. I want them to do what they can to build their super savings, even if it’s a small amount through salary sacrificing. It’s a fact that, on average, women retire with less super than men due to the gender pay gap. I want women to know that they can take control of their finances. They can start learning that now, by attending an NGS webinar, accessing the free resources and chatting with a Super Specialist or a Financial Planner. I wish I had paid attention sooner. Everyone should be checking their super, and ensuring they have a will as well. Many younger people think they don’t need a will because they don’t have assets, but superannuation is a major asset.’

Ready to plan for your retirement?

As you can see from Frances's experience, talking to a financial planner can make a big difference to your retirement planning. A financial planner can:

• Help you work out your short and long-term goals and what you need to do to reach them
• Build a plan to ensure your financial assets last through your retirement
• Help with strategies and recommendations to maximise Centrelink and other entitlements

If you’re not quite ready to speak to a financial planner, chatting to an NGS Super Specialist is a great place to start. They can answer general questions about super, investments, insurance or the transition to retirement. And best of all, it's free.

It’s never too early or too late to get advice about your finances. Being informed is the best way to feel confident about the decisions you’re making and your plans for the future. If you’re ready to take the next step, register for one of our webinars or book your free chat with an NGS Super Specialist or Financial Planner today.