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Transition to retirement

Plan ahead to get the retirement you’d love

Step smoothly into retirement

It’s pretty unlikely you’ll wake up one morning, realise your working life is over and you’re now retired. Thankfully it’s not such a sudden life change – you should have plenty of time to plan for your retirement. Start planning your future, today.

Get prepared for retirement

If you’re getting closer to retirement, it’s a good time to reflect and make sure you have a plan in place not only for your finances, but also for your lifestyle goals. Even if you don’t already have a sound financial plan in place, it’s never too late. There are some simple things you can consider doing now to prepare you for retirement later:

  • Review/create your financial plan. This can give you an idea of your likely income when you stop working. It can also help you decide whether a move to part-time hours or a delay of retirement is the best option for you.
  • Having an idea of your likely income when you stop working will also help you determine if you should be putting more aside into retirement savings today. 
  • Assuming your finances are in a good space and will last the distance, you may want to consider gradually reducing your working hours and finding new ways to fill your time.

Your working hours

Now’s a good opportunity to think about your working hours. If you’re able to financially, could you reduce your hours or begin to work part time? That way, when you’re no longer working full time every day, it won’t be such an adjustment.

Boost your savings

If you’ve already got a retirement savings scheme – like KiwiSaver – you could start to increase the contributions you send to it. Your savings will enjoy a bit of a boost and you’ll have more in your retirement pot when the time comes.

Match your insurance to your new circumstances

As you get ready to retire, it’s time to review your insurance.

If the unexpected happens, you may not be able to replace your home, car or possessions without insurance cover. So make sure your insurance policies for your home, contents, car and any other assets you may have (such as a boat, classic cars or whatever else you enjoy) are up to date.

Achieve the retirement lifestyle you want

Start to plan the retirement lifestyle you’d love. From taking a well-deserved OE or spending more time with the grandkids, to investing time in a new hobby – there are plenty of retirement options to explore.

To make sure you can achieve the lifestyle you want, consider getting financial advice. An Adviser can help you work out how much you might need to retire and suggest ways to get you to your retirement goals.

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Important information

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AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme (the 'Scheme'). The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited.

For more information, download a copy of the AMP KiwiSaver Scheme Product Disclosure Statement and Fund Update Booklet, which have been lodged on the Scheme's offers register entry at companiesoffice.govt.nz/disclose.

The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.

A disclosure statement is available from your Adviser, on request and free of charge.