An individual at this stage of life is generally within five years of achieving financial independence, which means they are in a position to choose whether to work or not. At this time, they may retire from the workforce, or work in another role (voluntary or paid), that they choose to do, rather than out of necessity.

It is particularly important at this stage of life to ensure your affairs are structured to provide for tax-efficient income, and that the wealth you have accumulated over your lifetime is protected. Keys areas of advice may include:

• Identifying and then eliminating the remaining financial “gap” you have in reaching your financial independence
• Ensuring your superannuation is being maximised in readiness for retirement, including salary packaging superannuation contributions and splitting contributions with your spouse, if applicable
• Ensuring any recent legislation changes are taken into account in managing your superannuation
• Structuring your financial affairs to generate income from non-superannuation assets if superannuation cannot be accessed until a later age