Money in your 70s: optimising and protecting (ep438)

Retire Right is brought to you by Tallowwood Wealth Advice. Specialist retirement financial advisers. You can book a complimentary appointment wherever you are in Australia by visiting https://www.tallowwoodwealth.com.au/ Buy the new book, 12 Months to Retire Right: https://link.amazon/B07u9ZQgE Retirement planning doesn’t just happen once, it’s an ongoing process that changes as you move through your 50s, 60s and 70s. In this episode, Glen James and financial adviser Martin McGrath discuss why your 70s are the decade to optimise and protect your wealth. 00:00 - introduction 04:24 - reviewing your Government entitlements regularly 11:58 - key things to review 23:15 - reviewing pension draw down each year 26:11 - the minimum pension payment by age 31:31 - simplifying your affairs 35:23 - recontribution and final contribution strategies 38:00 - the Downsizer contribution explained 41:52 - planning age cared needs early 44:38 - reviewing your estate plan 50:22 - spending with confidence 52:22 - leaving a legacy and helping adult kids 1:02:07 - action steps Money in your 50s:    • Money in your 50s: 6 things to do before r...   Money in your 60s:    • Money in your 60s: the decision decade (ep...   Aged Care planning case study:    • Aged care planning: the $585k decision nob...   Download the episode slides here: https://www.retireright.com.au/decades If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help Sign up to the Retire Right newsletter here: https://email.retireright.com.au/ 🏡 Join the Retire Right Facebook group:   / retireright   Glen James has a financial interest in Tallowwood Wealth Advice. This content is for education and entertainment purposes only and is intended for Australian residents. It is not a substitute for professional financial, tax or legal advice. Any advice provided is general financial advice only, which does not take into account your objectives, financial situation or needs.You should consider whether the advice is appropriate for your circumstances before acting on it. If you choose to buy a financial product, read the relevant product disclosure statement (PDS) and target market determination (TMD), and seek personal advice from a licensed adviser. We may discuss products, services or listener questions within our content for illustration and entertainment purposes. It is impossible to provide personal advice in this format, as we don’t know your individual financial situation. We may also change the names of questioners for privacy. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies. Guest opinions are theirs and their respective licence holders. SYMO Interactive Pty Ltd and Glen James are authorised representatives of MoneySherpa Pty Ltd, which holds Australian Financial Services Licence 451289. Please read our Financial Services Guide at moneypodcast.com.au. #personalfinance #money #investing #property #retire