“…a successful retirement involves more than just money – there are some things that money can’t buy such as being healthy and having realistic expectations of what lifestyle can be achieved,” he said.
“Advisers that understand the types of risk specific to retirees, the fears and challenges they face in retirement, how their needs differ from accumulators, and the strengths and weaknesses of different retirement investment strategies, will be best placed to help their clients throughout their retirement.”
Dinham noted the research paper,
‘Building Better Retirement Futures’, outlined and looked at the pros and cons of different strategies advisers could use with retiree clients such as keeping the same strategy as in accumulation phase, transitioning to a more conservative asset allocation, simple bucketing, more complex bucketing, or income layering.
Retirement time bomb requires complex thinking Sarah Kendell 07 January 2021
The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a new report has found.
Fidelity International’s
Building Better Retirement Futures report stated that Australia’s retirement system had “reached a crucial juncture” where the majority of super assets were in the hands of those over 50.
“As this shift has happened, there has been growing recognition that more thought needs to be given to strategies and investments specifically designed for post-retirement decumulation – the drawing down of the accumulated savings in the form of income over the lifetime of retired investors,” the report said.