How to achieve investment independence

Basil La Brooy highlights some of the ways NICRI can help you on your way to investment independence

Are you faced with a retirement investment decision and don’t know where to turn? The National Information Centre on Retirement Investments (NICRI) is a great place to start. Basil La Brooy highlights some of the ways NICRI can help you on your way to investment independence.

Carol recently contacted NICRI as she was considering the options available to her mother who needed to enter assisted aged care.  Her mother receives a superannuation pension, owns her home, which she has maintained well, and is also on an Age Pension.  The family home is valuable, not only financially, but from a sentimental perspective as well.

In addition to the issues Carol is facing in relation to her mother, she also needs to understand her own options, as she is hoping to retire in the not too distant future.  Now single, following the death of her partner, she has some funds in superannuation and some non-superannuation assets, as well as her own home.

 These types of questions are regularly raised with NICRI, as frequently people are not aware of the options available to them, do not understand the recommendations made to them, or the reasons behind the recommendations.

NICRI has now been in existence for 22 years and provides information directly to consumers about the options, investments and strategies available to achieve their objectives.  This is done firstly through a toll-free phone-line where anyone can call in and talk with NICRI staff about the issues with which they are dealing. The staff at NICRI are able to effectively discuss and explain investments and strategies people could consider or those recommended by advice providers.  Importantly, the traps and other negatives of the investments and strategies are also discussed and explained.  Understanding the downsides and how they can be managed will ensure a much better outcome.

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