Plans for retirement? Living the dream

Retirement – the end of one road and the beginning of another. If you’ve made careful financial preparations, your plans for retirement can include the pursuit of passions and interests that took a backseat during the busy working years.

For example, First Financial clients Jan and Mark lived in the fast lane before retirement, and they aren’t slowing down anytime now that they have called time on their careers. Not anytime soon, anyway.

At First Financial, we help our clients achieve their financial goals, enabling them to live out their retirement dreams, whatever they may be.

For Jan and Mark, retirement was something they discussed for years. They always planned to downsize from a larger family home and move into a retirement village. This choice provided a dual advantage: reduced upkeep and expenses and a chance to be part of a vibrant senior community.

Travel was another item on their wish list. From discovering domestic gems to exploring foreign horizons, transitioning to a retirement community made this much more attainable. When Jan and Mark plan time away, all they have to do is notify the office.

During their absence, the office tends to the garden, collects the mail and ensures the security and safety of their home.

Jan says, “All we need to do is lock the door, and we can travel with confidence and without any worries at all.”

“There is something on every single day of the week. There is so much to do.”

When asked about their activities, Jan enthusiastically highlights the bustling nature of retirement village life, including a wide array of activities such as special lunches and dinners, sports, aerobics classes, balance exercises, cardio workouts, bus trips and games like darts and pool. Jan particularly enjoys croquet, playing three times a week with the ladies. Both Jan and Mark enjoy cardio workouts as well.

“The activities at the retirement village keep us so busy, sometimes we think about going back to work for a bit of a rest,” jokes Mark.

It’s not just about recreation. Jan and Mark value the convenience of having all their essentials close and the intangible benefits like support and camaraderie. The community actively engages, with opportunities for everyone to get involved and volunteer. Jan is on the social committee, Mark is on the bar committee, and they both participate on a roster. Come Friday evening, you’ll find them at the bar, enjoying the weekly special and a few drinks.

In addition to their active, homely lifestyle, Jan and Mark share a rather thrilling personal hobby. Around 2006, Mark started racing cars, and Jan originally accompanied him as part of the pit crew. A few years ago, Mark built his own car, a Triumph TR7 V8, which he races about 12 times a year. Nowadays, Jan has her own car that she excitedly races herself.

“Racing in retirement is great. You get to travel, have fun doing something you love on the weekend and you don’t have to rush back for work on Monday,” Mark explains.

Racing adventures have led the couple to diverse tracks, including Sandown, Phillip Island, South Australia and beyond.

“Our Financial Adviser, Roel, is always running the numbers. Even by spending what we are spending now, we have a healthy balance, thanks to First Financial. It’s great knowing we can continue to travel and enjoy ourselves while we can.”

And there’s still plenty to check off their to-do list. Initially, Jan and Mark aimed for overseas travel every two years, but during their five years of retirement so far, a couple of those years were affected by COVID, leading to plans being put on hold. With the world reopening, they’re eagerly anticipating annual international adventures for as long as their health and vitality allow.

When addressing those preparing for retirement in the coming years, Jan and Mark offer a solid suggestion: consult a financial adviser, specifically First Financial. They insist you should never let concerns about money and affordability dissuade you. You really can’t afford to not reach out for help.

“The best advice I can give is to start now. Start early. Before we met with First Financial, we both had decent super balances, but they re-jigged our setup and that’s when things started to accelerate. Even with the amount the government forces us to withdraw each year, our accounts are still growing,” says Mark.

“We don’t have to worry about anything. We live comfortably and stress-free. We have more than enough to live like this for the rest of our lives,” adds Jan, “hopefully another 30 years or more.”

In 2012, Jan and Mark realised their previously reasonable work super funds were going backwards due to the global financial crisis. That’s when a colleague of Jan’s suggested talking to First Financial, a recommendation they are extremely grateful for to this day. Following an initial meeting with our team both felt at ease and trusted that we would guide them financially to a future they could enjoy.

“They have a genuine interest in our success. We have confidence in them. We don’t take unnecessary risks and they offer proven strategies and solid investments.”

Whether your retirement dreams involve competitive racing, sports, games or arts, or you just want to see the world while you can, First Financial can help.

Consider the years leading up to retirement as your training period and the day you finally leave work behind as the starting line. With the guidance of the right coach, you can be fully prepared to embrace retirement and go full speed ahead as Jan and Mark have.

For expert superannuation, financial and retirement planning advice, contact our team today.

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