If you are within 10 years of retiring it is vital that you sit down, have a look at your financial position and determine how you are going to provide for yourself in retirement. You need to be able to identify how much money you want in retirement and how you plan on saving enough to provide that income.
Many people believe that their property assets, either their own home or an investment property, will provide them with their retirement income. For people aged over 60, and in fact for the majority of people who are retiring, relying on rental income or the sale of a property will result in them being far worse off than if that income was coming from a superannuation based pension.
Considering that life expectancies for males and females are now in the 80’s you will need an asset base large enough to provide you with your desired level of income for 20 years+. Having a structured set of steps to follow will ensure that you have the required asset base upon retirement and will see that you achieve financial freedom in retirement.