Confident and in control8 March 2022
In March 2021, Mary and her husband Colin didn’t know just how comfortable retirement could be until they took advantage of the financial planning service available to Super SA members through Industry Fund Services (IFS) and her planner Paul.
The couple engaged IFS as Colin prepared to enter retirement, and that’s when they started taking control of their finances and began planning to maximise their superannuation.
“We knew very little about super. We just knew it accumulated, and that it would make some level of financial return on the money,” Mary said.
“We actually didn't really understand the reality that this was going to be our way of life and become our salary for the rest of our life.
“Until we educated ourselves through our ongoing visits with Paul for financial advice, we really didn't know the possibilities, or what our lifestyle options were.”
Now, after nearly two decades as the principal of two large metropolitan schools, Mary feels confident at the prospect of her own retirement and living comfortably throughout retirement.
“I’m not worried at all because I now understand how it works and what its capability is,” she said.
“The mindset has transitioned from, ‘have I got enough money to retire?’ to now ‘knowing everything that I know, I’m feeling more confident financially for when I do eventually stop working.’”
Her confidence is something she credits almost entirely to Paul.
“Each time I saw Paul, I was learning something different about superannuation and how to maximise it to benefit a comfortable lifestyle in retirement,” she said.
“I became more in control of my life beyond work. It was an empowering process”.
While Mary and Colin were good savers, it’s having a financial planner that’s really helped the couple increase their financial literacy and support them to live their dream life in retirement.
And it’s something Mary wishes more South Australians, particularly women, would take advantage of.
“When I talk with some of my female colleagues about how financial advice can help them lead a better life in retirement, they are pretty upfront about not knowing its potential,” Mary said.
And while Mary isn’t quite ready to retire just yet, she’s been able to begin enjoying the fruits of her hard work by turning her focus to her personal life.
“Because we’re more aware about our financial circumstances in retirement, we can focus on quality of life, knowing we can stretch things financially with confidence.”
And for Paul, that’s the best outcome a planner could ask for.
“The fact that Mary can go away and she's happy, confident, comfortable, and she can enjoy her retirement…that's fantastic for me,” he said.
For further information about Financial Planning services available to Super SA members through Industry Fund Services (IFS), visit our Planning and advice options or to book an appointment call 1300 162 348.