While modern life is exceptionally busy, any decent Financial Adviser will tell you that today is the best time to start planning for your retirement; the earlier you plan, the better placed you will be to enjoy it.
With life expectancy at its highest recorded level there are a lot of years to fill between retirement, generally at 65, and the 80.3 years an Aussie male can expect to see out, or 84.4 years for women, according to the ABS.
Anticipate a long life 
With the averages suggesting you’ll have between 15 to 20 years or more to fill before you fall of the perch, you’ll need to consider the length of your retirement, inflation (the price of living now will not be the price of living when you retire), and whether you will have sufficient cash flow to fulfill your retirement wishes.
In fact, for many people this will be the longest holiday in their lives.
It’s unlikely there will be a pension of any substance in the future and at the current rate of inflation, the spending power of a fixed rate pension will be halved in just over 12 years
So here are some tips to help make your golden years your best years.
Seek professional advice
It’s hard enough for experts to know which are the best investments, so why would you choose to wade through the maze of information (and misinformation) all on your own?
Having an objective and professional third party review help you formulate your retirement plan makes logical sense.
Review your superannuation
Looking at how your super is invested regularly can make a big difference to the final amount you have when you retire.
Does your super’s asset allocation still fit with your risk profile?
Even a small increase in super contributions can have a big impact on the lifestyle you will enjoy in retirement, so get some financial advice on making your super work harder for you.
Check your life insurance
The best life insurance cover will ensure you are not paying too much and will avoid putting you and your family at risk with too little.
It pays to review your life insurance policy after each major life event — buying a first home, starting a business, having children, or preparing for retirement.
At the very least, a review will give you the opportunity to explore different options for paying your premiums.
Plan your estate
While it can be difficult, it is so important to discuss with your family your wishes for the distribution of your assets when you die.
Some of the key things to consider in this process include:
A valid will — dated and witnessed by two people who are not your beneficiaries. No will, or a poorly worded will, could mean that your assets won’t be distributed according to your wishes and may cause delays, additional costs and possible tax implications. Be sure to update your will regularly as your financial, health, lifestyle and family circumstances change.
Power of Attorney — planning before an emergency will give you and your family the opportunity to review all options and avoid significant legal and financial burden. There are different types of powers of attorney, which can also depend on which State or Territory you live in, so you should get legal advice on what best suits your situation.
Buy/Sell Agreement — if you have a business partner/s, it’s important to have a strategy in place that will ensure your share of the business is passed on to your estate as quickly and as efficiently as possible in the event of your death or disability. 
Get financial advice — estate planning is very complex and can prove costly when done incorrectly. An experienced and trusted Financial Adviser will help you to understand all of your options and create a plan that meets your needs.
So there you have it…start today.
Procrastination will only lead to lost opportunity
Why not have a chat with the team at Metropole Wealth Advisory — it’s never too early to start planning your retirement.
from Property UpdateProperty Update https://propertyupdate.com.au/retirement-planning-owning-home/
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