{"id":47901,"date":"2024-06-18T21:14:14","date_gmt":"2024-06-18T09:14:14","guid":{"rendered":"https:\/\/milfordasset.com\/?p=47901"},"modified":"2025-09-18T21:16:27","modified_gmt":"2025-09-18T09:16:27","slug":"top-tips-for-enjoying-your-golden-years","status":"publish","type":"post","link":"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years","title":{"rendered":"Top tips for enjoying your golden years"},"content":{"rendered":"

This article was first published in NZ Herald<\/a><\/sup><\/p>\n

Nurture what you have ahead of retirement & think about lifestyle.<\/p>\n

Money is an emotional topic for us all \u2013 and for good reason. You work hard for it in the first place, and your hopes and dreams for your future, and that of your family, are inherently linked to it.<\/p>\n

As markets fluctuate, it\u2019s important to put a sound plan in place to get you to where you want to go. Below are our top tips as you approach your golden years, to help you retire comfortably at the end of your working life.<\/p>\n

In your 50s<\/span><\/h3>\n

Protect what you have<\/strong><\/span>
\nFirm up retirement goals:<\/strong> Now is the time to hone your retirement plans. Think about the lifestyle you would like to lead and how you would like to spend your time, and plan for the expenses that will be involved now.<\/p>\n

At the same time, add up your likely sources of retirement income. These may include New Zealand Superannuation, private superannuation, rental property income, or other income. Any shortfall will likely need to be covered from your retirement savings, such as your KiwiSaver account or any other investments. Seek professional advice to find out if you are on track and, if not, what action you can take to help achieve your retirement goals.<\/p>\n

Reduce risk:<\/strong> If you have been exclusively focused on investment growth for the past three decades, it may be worth looking at the risk levels on your KiwiSaver and other investments if retirement is getting close, although it may also depend on your range of assets and when you expect to access your KiwiSaver and any other investments.<\/p>\n

Estate planning:<\/strong> Estate planning should be considered throughout your life stages and it\u2019s always a good idea to ensure your Will is up to date. While checking on your Will, why not consider setting up an Enduring Power of Attorney that can be acted upon should you become incapacitated. Appropriate professional advice is important here. We\u2019re not the experts but we recognise the value of talking to estate planning experts to get this sorted.<\/p>\n

Diversify:<\/strong> It may also be wise to diversify your assets. For example, take the case of a property portfolio if you have one \u2013 because an adverse event such as a natural disaster or property decline could affect your retirement plans. Again, seek professional advice to choose a good mix of assets so that all your eggs are not in one basket especially if you need liquidity at a certain point in time.<\/p>\n

In your 60s & onwards<\/span><\/h3>\n

Enjoy your retirement<\/strong><\/span>
\nPlan for retirement:<\/strong> When will you retire, and will you have enough income to maintain your lifestyle? Adjust your assets so this is sorted before you retire.<\/p>\n

Complete a budget:<\/strong> How are your savings looking? Will you be able to maintain your lifestyle and fund your retirement goals? At some point during your retirement, you are likely to need to draw down on your savings. Seek advice on how much you can withdraw and how this fits in with your other goals such as leaving money to family or charities. Also, use cashflow modelling to assess your options and determine your possible outcomes.<\/p>\n

Talk to family about long-term care:<\/strong> Have that important conversation with your family about your wishes in the event you can no longer care for yourself. Let them know what you would like to have happen and budget for the likely costs. A financial adviser will help you assess how these potential costs fit into your financial plan.<\/p>\n

Enjoy your retirement:<\/strong> You\u2019ve worked hard and you\u2019ve got there! Now is the time to enjoy the fruits of your planning, saving and investing.<\/p>\n","protected":false},"excerpt":{"rendered":"

This article was first published in NZ Herald Nurture what you have ahead of retirement & think about lifestyle. Money<\/p>\n","protected":false},"author":52,"featured_media":42995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"ep_exclude_from_search":false,"footnotes":""},"categories":[850,848,783],"tags":[840],"media_type":[701],"fund_category":[],"class_list":["post-47901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retire-well","category-investing","category-private-wealth","tag-masterclass","media_type-read"],"acf":[],"yoast_head":"\nTop tips for enjoying your golden years - Milford<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"MAM\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years#article\",\"isPartOf\":{\"@id\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years\"},\"author\":{\"name\":\"MAM\",\"@id\":\"https:\/\/milfordasset.com\/#\/schema\/person\/f1d0ca8b4295df91c529dc366431f417\"},\"headline\":\"Top tips for enjoying your golden years\",\"datePublished\":\"2024-06-18T09:14:14+00:00\",\"dateModified\":\"2025-09-18T09:16:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years\"},\"wordCount\":631,\"publisher\":{\"@id\":\"https:\/\/milfordasset.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years#primaryimage\"},\"thumbnailUrl\":\"https:\/\/milfordasset.com\/wp-content\/uploads\/2024\/12\/Top-tips-for-enjoying-your-golden-years.avif\",\"keywords\":[\"Masterclass\"],\"articleSection\":[\"Retire Well\",\"Investing\",\"Wealth Management\"],\"inLanguage\":\"en-NZ\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years\",\"url\":\"https:\/\/milfordasset.com\/insights\/top-tips-for-enjoying-your-golden-years\",\"name\":\"Top tips for enjoying your golden years - 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