Why Ongoing Financial Advice Is Valuable for Australian Retirees

Retirement is not just a milestone—it’s a major financial transition. While many people seek advice when they first retire, the real value lies in maintaining an ongoing relationship with a financial adviser. Ongoing financial advice provides structure, adaptability, and peace of mind, helping retirees navigate the complexities of retirement with confidence.

The Value of Ongoing Advice

Retirement is not a one-time event—it’s a journey that spans decades. Superannuation drawdowns, market fluctuations, aged care planning, and changing legislation all require regular review and adjustment

Ongoing advice ensures that your financial strategy evolves with your life. Whether it’s adjusting your asset allocation, managing tax implications, or planning for aged care, a trusted adviser helps you make informed decisions and avoid costly mistakes.

Confidence and Clarity

The Australian Government’s Moneysmart initiative highlights that people who receive financial advice often feel more confident and less stressed about their financial future [1]. This is especially important during retirement, when income sources shift and financial decisions become more complex. Regular check-ins with an adviser help retirees stay on track and feel supported through every stage of retirement.

The Role of the Age Pension

Even for wealthier retirees, the Age Pension plays a significant role in retirement income. Around 70% of Australian retirees receive some form of Age Pension [2]. For those with $600,000 in assets, the Age Pension can still contribute nearly 46% of their retirement income. For couples with $1.5 million in assets, it can still account for over 25% of income over their lifetime [3]. Ongoing advice helps retirees optimise their entitlements and integrate government support into their broader financial strategy.

A Strategic Partnership

Ultimately, ongoing financial advice is about more than just managing money—it’s about building a strategic partnership that supports your lifestyle, values, and legacy. It empowers you to make confident decisions, adapt to change, and enjoy retirement with clarity and peace of mind.

References

[1] Get help in retirement - Moneysmart.gov.au

[2] Age Pension and other support for retirees