Are you a retiree in Orange? Perhaps you’re nearing retirement or maybe you’re simply ready to start seriously planning for your retirement.

If so, can you answer this one vital question?

-        Do you really know how the fees on your retirement savings compare with what else is out there?

Why is this question so vital? Because a 1% higher fee on your retirement savings could cost you 10 years of retirement income!

It’s a huge price to pay and it’s why you want to be very confident you’re not paying more fees than necessary.

During times like we’ve just experienced, you’d be forgiven for thinking things like a coronavirus pandemic causing an economic crisis are the biggest risk to your retirement savings. But that’s short-term thinking. When it comes to retirement, you’ll probably be retired for a long time and we’ll see other crises during that time… they will come and go. Things will fall in the short term but they’ve never, ever failed to reach new highs in the long term.

We can’t control the short term, but we can plan to make sure your retirement savings are set up to deal with the short, medium and long term.

There is, however, one thing we can control… FEES.

Fees can eat away at your retirement savings year after year and there could be an array of fees eating away at yours.

The sooner you put a stop to higher-than-necessary fees eroding your nest egg, the sooner that money will start staying in your pocket.

Showing people just how much they can save in fees on their retirement savings is one thing I love doing. I get to give many people an ongoing annual bonus by helping them pay thousands of dollars less in fees each year.

What would you do with thousands of dollars a year that would otherwise be paid in fees? Are there a few things you can think of that you’d rather be spending that money on?

Put it this way, if you had big holes in your wallet and money was constantly falling out and being lost, you’d very quickly do something about it. Your retirement savings are the wallet from which you will pay yourself a retirement income. If yours potentially has big holes in it, you’d want to do something about it, wouldn’t you?

That’s why the question is SO important:

-        Do you really know how the fees on your retirement savings compare with what else is out there?

If you’re not sure, pick up the phone and give me a call on 0411 484 464 and in the space of 10 minutes I can give you a quick assessment of whether you’re potentially at risk of the biggest killer of retirement savings – high fees!

The upshot of making a 10 minute call could well be a better retirement lifestyle!

Cheers,

Daniel

If you’d like to find out more about how INDEPENDENT financial advice could help you manage cash flow, pay off the mortgage faster, get the most out of super and invest wisely, then get in touch on 0411 484 464 or head to wealthtrain.com.au.

This advice may not be suitable to you because it contains general advice which does not take into consideration any of your personal circumstances. All strategies and information provided are general advice only.

Daniel McGregor and Wealth Train are authorised representatives of Independent Financial Advice & Education AFSL 520963