Retirement Planning
Overseas research* shows that 51% of all employees are interested in having access to retirement advice in the workplace and 44% of employees expressed interest in retirement seminars through work. Our experience suggests an increasing number of New Zealand employers are incorporating retirement planning workshops or seminars into their staff wellness and engagement programmes.
Our Retirement Planning Services are delivered throughout New Zealand via:
- Workshops/Seminars – hosted by employers or other special interest groups, and/or
- Individual coaching or consulting, either face to face or via electronic media
Retirement Planning – Retiring purposefully and meaningfully
The time spent in retirement now is considerably greater than it was for earlier generations. Increasing life expectancy means that many people are now spending the equivalent of half (or more) of their working lives in retirement.
This is a significant portion of their lives and as such requires them to focus their attention on planning for it if they wish to lead a happy, purposeful and meaning life through their retirement years.
An increasing number of people are realising that planning to meet their lifestyle and financial needs in retirement is vital to their ability to enjoy this important stage of their lives. We have observed that those who have planned for their retirement look forward to it, whereas those who haven’t can often fear or defer their retirement.
This not only has implications for them and their families, but also for their employers.
Our Retirement planning workshops, seminars and coaching cover the following aspects. They can, however, be tailored to suit the needs of the organisation and the potential attendees:
Part One: Lifestyle Planning (Presented by Cynthia Munro)
- What does retirement mean to you – are you ready, are you open to it?
- How do you deal with change and loss, and how can you plan to ensure you transition successfully?
- What are the key skills and talents you want to take with you into the next stage?
- What are your concerns and what losses might you encounter?
- What provides meaning and purpose for you in life and what will these look like:
- Relationships – what will change with your spouse/partner, family and friends?
- Leisure – what interests provide you with meaning and fulfillment?
- Work – do you want to continue working in a different capacity – what might this look like?
- Voluntary work – what type of activity might provide satisfaction and meaningfulness?
- Learning – what would you like to pursue – e.g. a hobby, intellectual pursuit or an interest?
- Health and wellbeing – how do you ensure optimum physical and emotional health?
- Location – what are the things you need to think about and the impact of change?
- Social – how will your social life differ?
- What does your lifestyle retirement plan now look like and how can you make this a reality?
Part Two: Financial Planning (Presented by Craig Wylie)
(We are independent of and do not recommend any financial products and providers. We are able to refer you to an appropriately qualified Authorised Financial Adviser on request)
- Understanding your present situation:
- Understanding your current financial position
- Can you improve your financial security/do more with your income?
- What could impact your financial security both now and in the future?
- Financial and lifestyle goals and objectives:
- Picture what lifestyle you would like – what will it cost?
- What financial/lifestyle goals are to be met before retirement – cost?
- How do you get from here to there (realising your goals including retirement)?
- Cash Management and savings
- What do you need to do differently?
- Are you making the most of your current income?
- Skills, interests, hobbies – can they help?
- Investments
- What keeps you awake at night when thinking about your finances?
- Understanding risk.
- Impact of inflation, tax and fees.
- Goal based approach to savings and investments.
- Types of savings and investment vehicles (interest-bearing, property, shares, unit trusts, super schemes, etc).
- KiwiSaver
- Traps and pitfalls – and how to avoid them.
- Financial Plan (bringing it all together)
- A financial plan will clarify if you can achieve your objectives.
- How would you feel if you can’t achieve what you would like to?
- What can you do about it?
- Differentiate between wants and needs.
- NZ superannuation entitlements.
- Asset planning considerations – Wills/Relationship property/enduring powers of attorney/family trusts.
- Need to review and refine your plan over time.
- Financial advisers
- Do you need a financial adviser?
- Criteria for selecting an adviser/questions to ask.
A selection of comments from workshop attendees is here.
Workshops: Are offered in two formats – 4 hours & 6 hours. The latter covers the more important aspects in greater detail and provides more time for group interaction, which participants see as a very valuable part of the workshops. Comprehensive work books providing useful ongoing resources accompany the workshops.
Seminars: Are offered in two formats – 2 hours & 3 hours. The content is covered in greater detail in the longer seminar. Notes outlining topics covered accompany the seminars.
Our Wellington self-hosted workshops are held on a quarterly basis. We can replicate these workshops elsewhere within NZ on demand. Our Wellington workshops are held three to four times a year. Please contact us for further details.
Our individual coaching or consulting focuses on the area(s) dictated by each individual client. Coaching/consulting is on an hourly basis with the number of hours dependent on individual requirements. Our objective is to assist clients to plan and identify the key factors that will contribute to making a smooth transition from their full-time work into retirement.
For further information or to book for one of our workshops or an appointment please email or phone Cynthia on 0274 865 065.
Related services:
Ageing workforce – working positively with the 50+ age group
