Questions by Martin Hawes
So, you're about to retire?
Retirement is one of the big developmental stages that we face in life – going from full-time work to reliance on your investment capital for your income is difficult! For most of our lives we have a nice steady income from work or business and now we have to depend on the vagaries of the markets to buy the groceries. More than that, whatever investment strategy that we have had while in work will no longer be suitable – you have to change a lot of things when you go into retirement; however the change of investment strategy is often the big one.
It is important that you think through your investment plan and get the basics right. Most important is that you get asset allocation right: the amounts that you will have in shares, bonds, property and cash will determine your investment performance more than anything else – this will drive the returns that you get and the volatility that you will experience. You also have to decide how much of the investment process you are going to do, as investment management will also determine whether you have good investing and a happy retirement.
Retirement is also a time when you should review all of the other areas of your finances: tax, insurances, wills, trusts, income and expenditure etc.
Comprehensive Wealth Plan
Our classic service, opted for by most people, gives you direction for your future and ensures that all aspects of your finances are on the right track . The main purpose is that you will have a clear path forward, a goal for the future and a plan for achieving that goal. This involves an initial meeting with Martin (likely to take 3-4 hours), a written plan and at least three months help with the execution of the plan as required. This further help does not incur any additional charge and is usually done by way of meetings, or by phone or email. The initial meeting can be undertaken either at your place or you can visit Martin in Queenstown. Price $6700 +GST
Here is how it works:
Martin will visit you at your home (or you can come to Queenstown if you prefer). We will spend 2-3 hours looking at where you are at now, where you want to be at some point in the future and agreeing a plan to bridge the gap. As a part of this, Martin will consider and advise on all the main financial issues as appropriate: your goals, tax, investments, debt reduction, budgeting, insurances and wills.
Following this meeting, Martin will write a report which sets out the things discussed and actions you should take.
Martin is available for at least 3 months to help with further advice and execution of the plan as required. Although this further advice is contracted for 3 months, provided no major issues have arisen, Martin continues to support and give advice for a year. A year after the first meeting, Martin will write suggesting an annual check-up which may be done at another meeting or by phone.