There is some help at hand for the many business people that are underprepared for retirement with a series of FREE financial planning information evenings being held in the Hunter.
A global survey conducted earlier this year by HSBC shows Australians anticipate their savings will run out a little over half way through their retirement with nearly 60 per cent acknowledging they are either inadequately preparing for retirement or not preparing at all. More than half (56 per cent) of Australians have never saved specifically for retirement outside of super.
The survey also shows Australians have a preference for short-term saving, and underestimate the cost of living in later life. More than half (53 per cent) prioritise saving for a holiday over retirement. On average they think they'll need just 66 per cent of their working life income to be comfortable in retirement – the lowest of all countries surveyed.
The survey had responses from 15,000 people in 15 markets worldwide including 1,000 respondents in Australia.
Hunter based financial institution the Greater Building Society has arranged the sessions to be run by expert financial planners, from its partner Bridges Financial Planning.
Greater Building Society partnerships manager Steve Goverd said the information sessions will help local business people to see if their finances are on track for retirement.
“The information evening will help people to answer common questions such as how much money they will need once they retire and whether they have enough superannuation,” Steve said.
“Small business people in particular are often so busy working on their business they neglect their superannuation and planning for their retirement.”
“Attendees will also have the opportunity to book a complimentary appointment with a Bridges financial planner, normally valued at $330.”
The information evenings are taking place as follows:
- Maitland on Wednesday, 23 October
- Newcastle on Wednesday, 6 November
- Lake Macquarie on Tuesday, 12 November
You don't have to be a Greater customer to attend.
A limited number of places are left – book your FREE place now.
Bridges is one of Australia's largest, national financial planning and stockbroking organisations and has been providing advice for more than 25 years.