tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, September 28th, 2:47PM

News

rss
Latest Headlines

Consider pre- and post-retirement advice

Many advisers have not yet come to terms with providing advice to people across a variety of life stages, it has been claimed.

Thursday, February 9th 2017, 6:00AM

Ralph Stewart, managing director of annuity provider Lifetime, said New Zealanders needed to be encouraged to think about how they would transition to a time when they needed more support, to enable them to retain their independence.

“What age will you be retiring, what will your monthly expenses be, and hardest of all, how long do you think you’ll live? How is your health now and what do you imagine it might be like in 20 years’ time? Some of this will always be guesswork but at least it will give you a plan and a financial goal to work towards.”

Stewart said, as well as considering whether they would have enough money for things such as increased healthcare costs, people could give thought to whether they could make alterations to their homes to allow them to remain there longer, or whether they needed to move to a community where they had easier access to things such as a local GP or a support network of family or friends.

He said this type of planning was not something that many financial advisers discussed with their clients, but was useful as part of a bigger picture.

“In practise it’s a relatively ‘soft’ space and fits very well with a holistic approach to providing financial advise. In general however providing advice to pre- and post-retirees is specialist field and evolving. We find some (but not the majority) of advisers grasp that it is advice for life, with the retirement cycle exceeding 30 years," he said.

“Multiple life events occur during this time which require specific and deliberate advice. For example, how much can I spend for the next 30 years and not worry?, how I do I manage not knowing how long I will live? How do I transition into requiring greater levels of support that I require today? When you combine, investment risk, with longevity risk and the pure practicality of ageing, it becomes very complex – never in our view has there been a better opportunity for holistic, evidence and fact-based advice than there is in the retirement sector.”

Tags: Ralph Stewart Retirement Income Group

« Adviser in courtLVR restrictions to be reviewed »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 3.85 3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 ▼2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 3.05 3.19 3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.55 2.69 2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.15 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.00 3.13 3.02

Last updated: 21 September 2020 10:48am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com