45+ Gaining Wisdom
The ‘autumn years’ are your time to assess your growth and refine your plan for the years to come. How much has your harvest grown? Is it enough to last?
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Step 1: The longer you save and invest your money, the better. Why? Because your retirement benefit grows exponentially through time, thanks to the magic of compound interest. However, if you take a portion of this benefit in cash when you leave the Fund, you are essentially bringing all your retirement savings and plans to a massive halt. Not only will you be taxed heavily when doing so, you’ll also have to start all over again, and you now have far less time to try and catch up. Make sure you preserve your benefit if you leave your employer and continue saving as much as you can. |
Visit the BENEFITS menu item above, if you consider changing jobs |
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Step 2: This is probably the best time of your life to start contributing more to your nest egg. Hopefully, you’re in a more secure financial position, and so making additional contributions is a real possibility. This may sound like a broken record, but if you can, add a little extra each month, because a little now can go a long way for your future. So let your savings flourish and blossom and ultimately bear fruit. Don’t let anything get in the way of your long-term financial planning. Read about your contributions and speak to a financial planner to find out whether you are still on your way to a comfortable retirement (see the details below) |
Click here to read about your contributions |
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Step 3: It’s likely that your kids have now matured. By updating your Expression of Wish Form, you can ensure that your loved ones will be cared for in the event of your death. This may not be a pleasant topic to think about, but it is a very important one. Don’t let them down – they will need your support. Update your Expression of Wish Form whenever you get married, divorced or get a child (very important) |
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Step 4: If you are invested outside of the Life Stage model, it’s possible that your investments are too conservative, and thus that you are earning lower returns than you prefer and need to be earning. Ensure you are on the right track by checking in with your financial advisor from time to time. The future is not far off now. True wealth is peace of mind – not a fancy car or the latest gadgets. So, where exactly should your money be working for you right now? Read up about the fund investments and complete your Investment Option Form. If you do not complete this form, you will stay invested where you are. Please note: before you decide to choose an investment portfolio, please speak to a financial advisor. See the details below. |
Click here to read more about the Fund Investments.
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Now, make sure you know how and where to see your Member Share. And remember that if you leave the fund, you have various options in terms of how to use this benefit – it is important to understand the tax implications of taking a portion of this benefit in cash. Remember, your decision cannot be changed.
Register on this site to see your own values and how your Member Share grows. |
Click on Visit below to Login to the Secure Portion of this website.
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Step 6: Get help and advice to help you plan for your journey to retirement and understand your benefits |
Click here for contact details of financial advisors and benefits counsellors |
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Step 7: Stay on top of what is happening in the Fund |
Click here to read important communication from the Fund. |
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And just for fun! Become financially savvy and grow your wealth by playing our fun simulation |
Click here to read short, interesting articles on how to become financially savvy Click here to play our LivFin$mart Simulation
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