Leading Australian financial adviser James Wrigley has some sound advice for people contemplating retirement in a new, easy-to-read book which helps point them in the right direction in what can be a demanding and stressful time in their lives.
Retire Life Ready is broken up into a few sections, the first has a series of exercises for people to work through to understand where they are at, what they might need to get to help fund their retirement and where they are today, James says from Melbourne in a phone call with Have a Go News.
“People should look into their world and look to retire comfortably whatever comfortable means to an individual,” he says.
“The second section works through the different elements to the Australian financial system with tax, superannuation, shares, property, trusts, all those different things.
“The last part brings it all together. So you have the first section which is: where am I at and where do I need to get to? The second section: what are those building blocks to close the gap between where they are now and where they need to get to in the end?”
Retire Life Ready, which took James around three months to write, addresses the issue that only one in three Australians are ready for retirement. The book is designed to show people how to design their future and retire on their own terms.
For many people, retirement planning is a source of anxiety. Questions about whether their super will be enough, how to manage debt and how to maintain their lifestyle can feel overwhelming, leaving many unsure where to start or if they’re even on track.
James’ book aims to put people at ease, showing how the choices they make today can transform their tomorrow.
Drawing on his experiences over two decades helping thousands plan smarter finances and known for making money matters simple and relatable, James guides readers to assess what they already have financially and take practical steps towards a secure, fulfilling retirement.
Readers will learn how to: pinpoint the cost of their ideal retirement lifestyle, unlock the power of superannuation and other wealth-building tools, reduce debt and accelerate home loan repayment, grow wealth with simple, long-term investing strategies, plan for family healthcare, the pension and beyond.
With Retire Life Ready people can gain more than a financial plan, have confidence, clarity and the freedom to shape a retirement and stress less, plan smarter and start living the life they have earnt sooner.
James says he hadn’t contemplated writing a book but was asked by several different publishers if he was interested. “I thought, ‘there’s an opportunity to write a book, let’s see if I can do it so I started from scratch, writing around a thousand words a day.
“I happened to be in Sydney for something else on the day the book was launched and so Dymocks were kind enough to host me to do a little Q and A. A whole bunch of people came along and got their books signed so that was all pretty exciting.
“And there has been a lot of media interest from newspapers and television which is all new to me. The book is going well which is good to see.
“People have bought the book and then gone and bought a copy for family and friends. There were people sending messages saying they ended up buying four or five copies, one for themselves and others to give out so that support at Christmas was really amazing.”
How does Australia compare with other countries as far as planning for retirement?
“From what I read, we’re in a really strong position in Australia, particularly with the superannuation system now. There’s a group of people that have already retired that didn’t have super their whole working lives but we’re at the point where a lot of people who will retire over the next five to 10 years probably have had super their entire working lives.
“And so, that makes a huge difference if they have managed to pay off their house and have had super all the time. They are probably going to be in reasonable shape heading into retirement.
“We have one of the biggest pots of retirement savings in the world, being the super system and our population is 27 to 28 million people.
“So that puts us in a really strong position relative to lots of other countries.”
Retire Life Ready Practical steps to build your wealth and live your ideal retirement by James Wrigley ($34.95, Wiley) is available from most good bookstores.
