If you want to find out how to ensure you can live your best life when you retire, you need to look at your financial options.
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Warrnambool Association of Independent Retirees spokesman Rod Carter said people should find out what options they had when it comes to accessing and making the most of their hard earned superannuation dollars.
The group is holding its monthly meeting at the Warrnambool RSL on Friday, August 25 and has invited members of the public to attend and find out from a financial adviser about securing their future.
Mr Carter said the federal government had introduced a Retirement Income Covenant.
The aim of this is to improve financial outcomes for retirees.
Mr Carter said people could find out what options were available to them when it comes to accessing superannuation funds to supplement any other income they have in retirement.
"Some of the superannuation funds are great at building up the value you've got in there, but they're terrible at telling you what you can do with it when you've finished accumulating it."
Mr Carter said a report by the federal government found a lot of people were reluctant to draw funds from their superannuation due to uncertainty about the future.
He said there were some super funds that offered options that gave retirees peace of mind with a weekly or fortnightly income from their superannuation.
Mr Carter said it was important people investigated their options, especially as high interest rates and the rising cost of living made it increasingly difficult for people on fixed incomes.
"The vast majority of retirees want to know that no matter what happens, they will have an income every week or every fortnight until they die," he said.
"That relieves a hell of a lot of worry."
Mr Carter said it was never too early to investigate options when it came to being financially secure in retirement.
He encouraged people to head along to the meeting and find out about their options for the future.
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Monique Patterson
I'm a journalist with more than 15 years experience. I currently work at The Standard in Warrnambool. If you have anything to add to this story please contact me at mpatterson@warrnamboolstandard.com.au
I'm a journalist with more than 15 years experience. I currently work at The Standard in Warrnambool. If you have anything to add to this story please contact me at mpatterson@warrnamboolstandard.com.au
