The Retirement Boom That's About To Change Australia

Jason · 00:00Welcome to episode 241 of the Numbers Game. I'm Jace. I'm here with Nick and Marty. How are you guys?

Marty · 00:06Doing well, thanks Jace. I'm a little bit concerned about your topic this week. Um, seems to be angling at older people and I just know where this is going, so I'm a little bit edgy, but yet probably excited 'cause I've gotta learn a bit.

Marty · 00:18So what's going on mate?

Jason · 00:19I'm worried that we could break the economy. And, uh, what I mean by that is that we have a big wave of baby boomers. We have retirees. That numbers are absolutely skyrocketing. And, you know, we're here at the numbers game. We do love talking about numbers, but I didn't realize the, the, the sheer numbers that, that were kind of approaching at the moment.

Jason · 00:38And I thought it'd be great for me to throw some numbers at you guys as we do, and, uh, unpack how baby boomers are looking to reshape Australia's economy. And I guess as well, what are the opportunities for people out there that are armed with this information? What do you think of that?

Nick · 00:51Are we talking about baby boomers or.

Nick · 00:53We're talking about Marty's hairstyle.

Marty · 00:56Hey, look. Look, I call, it

Nick · 00:58looks like a big wave, doesn't it?

Nick · 01:00Before you silver

Marty · 01:01tsunami. Look, before all the comments start on YouTube. Can I just say I've been, I'm going to this new barber and he said the last guy butchered it so much. He said, let it grow out. For five weeks.

Marty · 01:12So I'm gonna look like a bit of a haystack, but I guarantee if you come back to YouTube in a couple of weeks, you are gonna see one fancy peacock. So that's all I'm gonna say for now. Oh

Jason · 01:24look, it's a great way to get people to YouTube. We're talking about the silver tsunami and we've just referenced Marty's heads.

Jason · 01:29So, uh, here we go. But I mean, look, some of the numbers guys, we have 140,000 Australians retiring every year. Then obviously this has an effect on the economy when, when these people stop working. Um, the, what what's happening here is, I mean, we're talking about the baby boomer generation, so that was people born between 1946 and 1965 who are transitioning to retirement.

Jason · 01:50So what I kind of wanted to look at was how have the numbers dramatically changed over the last couple of years. So. If we look back to some of the more recent available data in the

Jason · 02:002223 financial year, there was 4.2 million retirees in Australia at an average NA age of 57 years old, which ought 56.9, which I found quite interesting.

Jason · 02:11Do, does that Na, does that number for a retiree surprise you guys?

Nick · 02:14Definitely for me and I can, um. I can speak to this because we obviously have a lot of retirees in our business as clients. Um, and that is super young. That is super young. Yeah. Yeah,

Jason · 02:25yeah. Cool. So, I mean, especially when you've got 4.2 million and the average is 50 57, give or take, um, just kind of, yeah.

Jason · 02:32The, the, the numbers around there. Maybe I'll even dive into a little bit further for a, for a follow up, but what's then expected to happen, uh, Australians age over 65. So again, you look at the percentage of population. We're currently at 3.2 million people. At the age over 65 or above. But what's gonna happen in the coming 25 years is that number's gonna raise to 8.1 million people of Australia's population will be aged over 65 by the time we hit 2050.

Jason · 03:00So again, you know, you guys are business brains. If you start to think about the services and the things that we need, what, what, what do you guys kind of list as economic impacts or things that you can think of if we have nearly triple the amount of 65 and aboves, what, what kind of comes to your mind, Nick?

Marty · 03:16Uh, healthcare.

Jason · 03:18Yep. Big one. Marty, anything to throw in?

Marty · 03:21I, I'm just, I was interested in your stat of 57. So is that because the boomers have, uh, you know, have done really well with, you know, property and investments during their generation and have given them that luxury? So I would think, uh, yeah, I think financial management would be a big component, uh, to people.

Marty · 03:39Maximizing that retirement, um, for what they're gonna do. Absolutely.

Jason · 03:44Yep. A hundred percent. When you think about property prices over the last, you know, 30, 40, 50 years, you know, these, um, you know, I think of mom and dad, you know, bought, bought a property at end of the hills and built a home for $40,000 in the nineties.

Jason · 03:55Then now that property's worth what it's worth today. That is very much an ability

Jason · 04:00to fast track being able to retire when you have got a nest egg that you're sitting on that has been your main residence, you know, tax exempt. It's grown in, in value, and then that's able to set people up for transitioning into that retirement world beyond, uh, you know.

Jason · 04:14Healthcare, as you said, Nick. And then, you know, referencing back to the age we've got aged care, aged care becomes a very big one. Um, if you think about, if there's 3 million people above 65 now and that's gonna grow to over 8 million, where are people living? Where are the aged care facilities? Um, what does life look like in Australia when we have.

Jason · 04:33You know, a big majority of people in that later stage of life beyond healthcare and aged care. One of the other ones is our labor force. You think about how many of these people are currently working, but then also looking towards transitioning to retirement or retiring. That is a huge percentage of Australia's workforce that will no longer be a.

Jason · 04:50Working and actively contributing to the economy.

Marty · 04:53And I think the travel industry will get a bump up too if people are retiring a little bit earlier. Um, that's another

Marty · 05:00industry that could, you know, could take off with those numbers as well. 'cause people wanna, you know, have experiences, um, before they get into the aged care.

Marty · 05:07So it's a nice transition. And the other thing I was thinking about, Nick, probably talk about it a bit better than I can, just even the transitional, generational wealth, like to, you know, support. People who are retiring to think about the next generation as well. I think that's, uh, I think we've spoken about it before, but it's a very relevant transition as well, so that will need to be taken care of.

Jason · 05:29Yeah, a hundred percent. There's probably one here that's, you know, an interesting one. When you then start to think about, uh, retirement planning, Nick. I mean, I know anyone who comes across to future advisory or you know, uh, you know, joins us at the latest stages of their life. One of the first conversations we have is, you know, do you have a financial planner or have you looked at your super fund?

Jason · 05:47And these people are often between the age of. 45 and 65. If, if they're, you know, then they're approaching us, um, to look after their taxes. And when we say it, they're like, oh, look, you know, I've left it too late. You know, you know, I'll just deal with

Jason · 06:00it when I retire. And we're going, no, oh my God. Like this is, this is the opportunity now.

Jason · 06:03You need to start to look at it before you hit retirement age, while you've got opportunities. Um, I think from my point of view there, Nick, in a bit of a. Do you see that as an opportunity as well, that if there's that many people that are approaching retirement age over the next 25 years, what that does for the financial planning and wealth profession

Nick · 06:22already happening?

Nick · 06:22Already seeing it. Yeah. So, um. If I look at where a good chunk of our lead flow comes from, it's from the baby boomer population. Mm-hmm. Particularly, well obviously retirees, but people in their fifties that have only got, you know, hypothetically 10 to 15 years of work left that realize they've got. A bit of time to make an impact, but not a huge amount of time.

Nick · 06:44Um, so 100%, and I think it's one of the main reasons we're busy is the baby boomer population coming through. Um, couple that with the fact there's less and less advisors that yeah, there's big opportunities in wealth businesses and, you know, beyond that to then specialize in

Nick · 07:00age care as well. There's, there's not many.

Nick · 07:02Uh, wealth businesses that do it and that, that enjoy doing it. 'cause it is quite difficult. You need to be, uh, across it. So in answer to your question, yes, big opportunity

Marty · 07:11and, and, and I think too that, um, the baby boomer generation, there would be some that obviously appreciate financial planning, but there's a lot that wouldn't have, have had that journey in the past.

Marty · 07:22And you have to be really careful and even talking to some people that have retired that the money they made in their. Professional life or in their business life. They get into, they get into retirement. They have poor disciplines around the financial management side of things, and they can blow a good portion of their net wealth really quickly as well by taking a chance on something because they're so self-driven.

Marty · 07:46So it's um. So again, you, you want to have a game plan and even an accountability buddy as a planner to ensure that you can test your ideas and ensure that the hard work you've done all

Marty · 08:00over, all that time, you don't just blow it up in a couple of, you know, unlucky or poor decisions. You want to have some parameters around it.

Marty · 08:06So I think that's really important to put out there, particularly for that generation.

Jason · 08:10Yep. A hundred percent. And look, I mean, while this is the thing to kind of think about when you start to go, you know, if I was gonna start a business today or was gonna invest in something, you know, is this an opportunity to look at the healthcare, um, system or aged care overall?

Jason · 08:24I know governments spend, if you, if you start to have a look at what the government are planning to invest in and spend money on in the coming years, that, you know, it also paints a bit of a picture. Um, but you know, then when you look. The sheer number of retirees. The other thing that you know, blew my mind is how much money will be unlocked from superannuation funds.

Jason · 08:41So as you have more people retiring than entering the workforce, you've got. More money coming outta super than hypothetically what may be going in, or there's a bit of a transition of that. Um, it's this transfer of wealth that is gonna be the biggest wealth shift that we've ever seen in Australian history.

Jason · 08:58You know, we're talking a trillion dollars in

Jason · 09:00super that potentially gets unlocked. And then we're talking about, you know, gen Z and millennials that are gonna have cashed up parents, um, that are retired, as you said, Nick spending money on travel and tourism. But also then it's the, the local cafes and restaurants, you know, who are they attracting, who are they marketing to, depending on what area they're in.

Jason · 09:17Um, but yeah, any thoughts? I mean around, you know, spending patterns in the economy as well. It's not all bad and doom and gloom when it comes to aged care or healthcare. It's also what having more cash being spent in the economy also means for small business owners.

Nick · 09:31Well, there's a couple of schools of thought here, and the first one is, um.

Nick · 09:38You would think that if baby boomers are cashed up, that they are pouring a heap of money back into the economy. What I can promise you is one of the biggest challenges that our advisors have with that demographic is convincing them to spend, okay? Because they've grown up or they've been through hard times, so they have a frugal.

Nick · 09:58Um, they have a frugal

Nick · 10:00attitudes and they, the reason a lot of them are in such good positions is because they're frugal. They put money into things, they paid debt off. They didn't do anything outlandish with their money. So, um, yeah, you would think that, of course it brings more money into the economy, but a lot of them don't like spending their money.

Nick · 10:20That's just the reality. Um, we're constantly trying to convince. Um, them that they do have enough to get them through, uh, to the end of their, their life. That's, 'cause that's what we're talking about. Um, and they don't need to save every penny still. So yeah, there's, there's two ways to, to, to look at that.

Jason · 10:38Marty, when you think about, uh, retirement wealth, uh, I dunno, I smiled. There we go. But when you think about retirement wealth, is there anything in your mind that, that thinks about the legacy you leave in the wealth you've created for then Charlie at some point in the future now that, you know, Charlie's younger in the long time before he's probably, you know, looking at buying a house and things like that.

Jason · 10:59But one of the

Jason · 11:00other kind of conversation pieces around this is how. You know, baby boomers or the retiring that have some wealth are gonna be in a more of a position to be able to help the next generation coming through when it comes to wealth transfer.

Marty · 11:12Um, yeah, well we have that discussion, you know, quite often just in regards to logistics.

Marty · 11:17Like, uh, you know, is it worth, you know. Purchasing a property or doing an extension on the property where, you know, Charlie could live and actually have an independent life, or, or you might, it sounds like an old ethnic, uh, idea, but buy a house two doors up and, uh, rent it out and then transition him into that.

Marty · 11:38Um. So there's that aspect, but there's also singing for your supper as well, because there's a lot of resources that, uh, uh, are inspired by actually going out and making your own path as well. So I think there's a balance. We would certainly, uh, want to ensure that he has comfort in his family, has comfort when we are gone.

Marty · 11:58But also I think that would be a

Marty · 12:00very step program, and I think there's. There's more of a, there's more a discussion around this now where if you can help your kids while you're alive, then why wouldn't you rather than when you die. So we've been having conversations around that to go, well, maybe it could be a situation where he's 21.

Marty · 12:20Um, he'll probably blow it and go overseas, but that's okay. It's a life experience. But maybe when he is married and. You know, maybe when he has his kids, you know, so more stepped arrangements to go, how can we support during those times, which are really critical times as you're growing up and you have a lot of responsibilities on your shoulder, as we've all felt, um, you know, through our journeys and how can we maybe.

Marty · 12:44Lighten that load without giving away the farm all at once as well. So that's, that's probably the thought process that, you know, we generally have a chat about and go, you know, we don't want him to be on Easy Street because we want him to, you know, go out there and make his way in the world. But we

Marty · 13:00also know those critical moments that could make his life better and maybe a little bit of a, a little bit of a cherry on top at the end.

Marty · 13:08So, yeah, but that's my thoughts around it.

Jason · 13:10Yeah, no, fair enough. And Nick, does that come up in, in, I guess, financial, financial planning and the wealth planning as people are heading into retirement? Is it, you know, if they're not spending the money, is there thoughts around how that wealth transitions through the family?

Nick · 13:22Yeah. Definitely, um, you know, to Marty's point, you wanna get the balance right, but the, the, the big things are housing and educating kids. Like if, if you look at most younger people, when I say younger people in their forties that have got kids, you know, going through schooling and whatnot, um. That's, that's what's stressful.

Nick · 13:41How do you pay school fees and how do you put a roof over their head? So they're definitely things that, um, the baby boomer population want to assist with if they can, and most of 'em in a position where they can. So it's helping them understand the impact that has on their own retirement. Um, and to Marty's point, the attitude is now

Nick · 14:00will.

Nick · 14:00Why would we wait? Um, why wouldn't we help them into a property now in 2025 versus 2040 when it's gonna cost a lot more? So we're we, we're seeing far more of that, and it's just giving people comfort around that decision and what impact that has on them personally as retirees.

Jason · 14:17Awesome. No, I love it. One of the other things, uh, interested if you guys have heard it as well, to float by and, and more for the audience as they start to think about where their parents might be living, uh, on the other side of retirement.

Jason · 14:27Have you heard of a land lease community?

Marty · 14:30Not off the top of my head, but are you thinking about like retirement communities without being aged care?

Jason · 14:37Yes. Yes. Essentially. Yeah. So, um, there's one, there's one, there's one that I, I've seen as like a bit of a case study. It's called Ocean Club Resort. Like, I'm already looking at it going, shit, when I'm over 50, that's where I wanna be living.

Jason · 14:48Right. So essentially you got a phone number? Yeah, yeah. I'll send you the link. Um, so it's called Ocean Club Resort. This one happens to be, um, in New South Wales along the, the mid to north coast. And what

Jason · 15:00this is, is, rather than having, you know, land is often the most expensive part of buying a house and land package.

Jason · 15:04So what, what, you know, their claim or, or their sales tactic is you, you don't buy the land, you pay for the property. Then you lease the land. Um, but you know, with the, you own your own home. You avoid stamp duty costs. There's no cancel rates, there's no exit fees. Um, if your property is then worth more, when it comes time to move out of that retirement living and you sell it to another family who's gonna take on that house, you keep the capital gains and all that happens is you pay the.

Jason · 15:34Monthly lease fee on that land inside that community. And the whole idea is that it's, you know, over fifties active lifestyle, there's, you know, heated pools, yoga, lawn bowls, like this place looks epic to live. Um, so again, this is just an idea of the business models that are starting to be created out there with the view of there is gonna be a huge retiring community.

Jason · 15:56And how can that be capitalized on from a, from a business point of view, but

Jason · 16:00also creating, creating opportunity and creating a, a place for people to retire and for people to live. There's gonna be that transition. Um, but yeah, you guys haven't seen or come across anything like that. Um, something you'd be interested in Monday, Marty?

Marty · 16:11I've heard of, um, Hamilton Island having a 99 year lease on the land. Uh, you know, even for the properties that are owned there. But I'm going, so how does that work? Is it, is it sort of a similar type thing where you still have ownership and that can be transferred to siblings and how long are. Is the lease, like how do you extract your value out of that?

Marty · 16:32Um, I, I, that's probably the first question I'm asking, and then obviously the lifestyle choice is the lifestyle choice, but, um, they're, they're sort of the things to be digging into to make sure you're not left with a lemon at the back end of it.

Jason · 16:45Yep. Very good point, very good point. Overall. So, uh, look, I don't have the answers for you, Marty, but, uh, once you've researched, uh, where you're gonna live in retirement, if, if Ocean Club Resort is on your research list, I'd love to, uh, know a little bit more about it.

Nick · 16:58Why wouldn't you just pay an ongoing rent?

Nick · 17:00Like if you've got like the, the reality is the building or the house component's gonna depreciate. Yeah, that's so. I know if I'm looking at that, I would rather pay as long as it was within my finances because again, once you get to that age, it's no longer about accumulating wealth.

Nick · 17:17It's about making sure what you've got is gonna last and then hopefully, uh, leaving some kind of legacy if you've, if you're fortunate enough to be able to do that. So if I'm looking at that, what's cleaner and easier for me is, okay, tell me what that's gonna cost me annually to live there. Um. I'm happy to pay that because I've sold my house and I've got 1.5 million super and that's gonna generate a certain amount of money for me every year so I can afford it.

Nick · 17:41Uh, versus going in there and buying it, which to me sounds convoluted, particularly if you're only buying and depreciating. Yeah,

Marty · 17:49it feels, feels strange, doesn't it? And, and also maybe the, just the extension of the lease, like rather than it being one two year lease, it might be till def do us part type of

Marty · 18:00thing.

Marty · 18:00So just some comfort and stability in the I I like the rent idea much better.

Jason · 18:05Yep. Yeah, for sure. I think it's probably then more going up against your traditional retirement homes. So rather than depositing hundreds of thousands of dollars as the refundable accommodation deposit, which happens in retirement homes, they're kind of saying.

Jason · 18:18Rad hit rad re refundable accommodation deposit. Um, rather than doing it that way where you, you lock away a couple of hundred grand and then once that person, you know, passes or, you know, uh, leaves that retirement place that, you know, you get the refund back, they're doing it more as a, you buy the house, it's your house.

Jason · 18:35Then you just pay a fee. But no, good, good points. And then this is why, uh, these things are all things to research and look into, especially, I mean, look, hopefully I'm a few years away from moving into that Ocean Club resort. Um, well, I'm a few years away. I can't You got, you got your eye on it though, man.

Jason · 18:50I'm, I'm, I'm excited. I'm, I'm pretty, pretty pumped to get in there, but, uh, no, I just, uh, wanted, yeah, just, just approach this discussion from a. Now reverting back just to

Jason · 19:00round out the business owners and young Australians, where are the opportunities here? So we touched on healthcare and aged care services.

Jason · 19:05Um, think about it as well from a, looking at what the government are doing around tax collection, the government, when, when we start to see more taxes, government are worried about collecting more, you know, more, more from us on ongoing. It feels like we give away so much of what we earn back to the government.

Jason · 19:20But then think about our lifestyle in Australia and, and then what we're up against. You know, we have the age pension. If more people are retiring and let's say, you know, not everyone's gonna have a big healthy super fund balance or a big property asset to fall back on, there will be a huge amount of government strain on age pension and, you know, funding the government healthcare system.

Jason · 19:41So, you know, again, thinking about all of those things that are coming, if you start to see that built into government spend and government budgets, that's why, you know. There is so much of this forward planning going ahead and, and there is no relief when it comes to the tax pain that we have. Obviously talked about financial planning and advisory around baby boomers, uh, wealth

Jason · 20:00transfer strategies.

Jason · 20:01I know a lot of people, I mean, people also get stuck into some interesting situations. You know, we've got a client that, um, wants to basically transition mom's property to the kids. Um, you know, husband and wife have moved in, so one of the, uh, one of the kids. It's taken mom's property, but to avoid all the tax issues and stamped due and everything else, they're just living in mom's land and property for now.

Jason · 20:26Working from it, doing what they're doing. And when mom passes, the idea is, you know, we'll put it in the will and that'll happen. They're relatively, they've come on board as a client and I've sat there and gone, well, hang on a minute. Like, you've got siblings. What if something goes pear shaped after mum goes and the siblings challenge the will because you know that property's gone from being worth, you know.

Jason · 20:44500,000 when you did the deal to now it's worth 2 million maybe. Um, brothers and sisters aren't overly impressed that, you know, you did that deal and they, you know, this, you know, nothing to fall back on. So this also causes. A need for great retirement planning and

Jason · 21:00wealth transfer strategy. So if you are out there thinking, you know, how does this apply to me?

Jason · 21:04I've listened to Jayce Waffle on about, you know, baby boomers and retiring. There is so much more that comes outta this. If you then think about, you know, what your parents, if you know, let's say your parents aren't into podcasts and listening, um, you know. It's not the kid's responsibility or young Australian's responsibility necessarily, but there are some great conversations you could have with your parents around their retirement plans, you know, get involved.

Jason · 21:27You know, are you the executor of their will? We've had a Wills conversation before and it's not because you know, necessarily you're coming at it from a greedy or money hungry point of view, but coming at it from a caring about your parents and their quality of life in retirement. 'cause at the end of the day, if something goes wrong and you don't get this right as a child, as, as a s.

Jason · 21:46Child of your parents, you've got a best interest in caring for them, and you're gonna end up having to be involved later on down the track. So the sooner you get a plan in place and ensure your parents are sorted, um, because, you know, as Marty said, or you know, as we've touched on not, not everyone's

Jason · 22:00motivated to go and see a financial planner and map out a strategy.

Jason · 22:02But it guarantee it'll be one of the best things that your parents can do. Or if you are a parent looking to retire soon, it's something you definitely need to take into consideration. Uh, we want you to have more money for travel and more money for, for spending and enjoying your retirement.

Marty · 22:16A question for you, Nick, too, um, uh, do people come in looking for a family plan?

Marty · 22:21Like when you talk about transitioning wealth, is there anything where. You know, kids can bring parents in and that could be done as a family.

Nick · 22:29Well definitely like to Jason's point there, I think if you're educated and you know, your parents are not, why wouldn't you bring them in? Um, 'cause Marty, there's so many little things that people don't dunno.

Nick · 22:42Yeah. Um, and. You can have a significant impact on people's and, uh, retirement fund, um, simply by knowing a co a couple little things and yeah, not, not, not to go down a strategy path here, but you know, one of the most common ones,

Nick · 23:00um, that no one really knows about is re-contribution strategies. So, you know, when you, and I'm, I'm not gonna go into it.

Nick · 23:08Um, other than high level, but when you contribute money to super and you claim a tax deduction for that, it's, it's classed as a taxed, um, a taxable amount of super. So basically, if that gets passed down to, um, dependence for inheritance. There's tax attached to that in, in inheritance. What you can do when you get a little bit older and you're still working and still have the ability to contribute to super but can also pull it out through a transition to retirement, is you can actually pull that money out yourself and re-contribute it.

Nick · 23:44Uh, there's a, there's a way that that's gotta be done, but Marty, you can basically take a tax taxable component of super inside of your fund. Pull it out, put it back in as a non-taxable component, which means when your kids get that money, they won't pay tax on it. So,

Nick · 24:00you know, we've seen that, we've seen that make a 70 k difference to the inheritance.

Nick · 24:03Um, to the inheritance that that's left or a 70 k reduction in a tax bill. So. That's, that, that's an example. People go, well, I didn't know about that, so. Mm-hmm. Yeah. I, I think if you're listening, um, and you are in your forties and your, your parents are coming up to retirement, um, and they don't know this stuff, then it's, it's definitely worth at least sitting with an advisor.

Nick · 24:27You may not, may not go ahead, but sit down and understand what value they can add, and then at least be educated enough to make a decision if advice is for you. Um. And a lot of what we're seeing now is our clients. So our clients in their, you know, mid fifties to sixties, they're now bringing their parents in, going through aged care.

Nick · 24:48So to your point there, Jace, um, look, we're, we're considering an aged care specialist in our business now, not because we've got a, a whole heap of new aged care clients coming in. It's

Nick · 25:00our baby boomers parents. So the baby boomers are coming in and saying, holy shit, I've gotta, I'm trying to sort this stuff out for mum and dad, I've gotta get 'em into aged care.

Nick · 25:07I've got no idea what to do. Do you guys do that? So everything you're saying is. You know, is definitely happening in our business at the moment. I can see it firsthand

Marty · 25:16and, and not to go down a path, but, uh, even business owners that are baby boomers as to, you know, getting a win and selling their business, uh, can no doubt get a lot of advice around that as to what you can do with the funds that, uh, might be more productive than, uh, yeah.

Marty · 25:32Then just taking the cash.

Nick · 25:33Yeah. Uh, and Ja, Jason would be the one that would probably know this better than us. But if you're, if you're a couple of years out, uh, from a, you know, inverted, inverted comm succession plan, you need to make sure that your business is set up to. Not just, um, not just to to be sold, but to make sure you can minimize your tax, um, on the exit.

Nick · 25:55And sometimes that's a decision you need to get yourself set up for, or a

Nick · 26:00position you need to get yourself set up for.

Jason · 26:01Yeah. And the beauty right, in the last five minutes alone, right. Talked about transition to retirement. Then talked about small business retirement exemption, uh, which is part of, you know, their succession planning.

Jason · 26:11And these are all high impact things that can make a huge difference to someone who's, you know, whether they're in this part of their life or not, or whether it's your parents or whether it's someone you know. And, you know, this is exactly why we're here on the numbers game to talk about things like this.

Jason · 26:24So, um, look, Nick, Nick's business innovates, this is absolutely up their alley. Um, I-N-O-V-A-Y [t.com](http://t.com) au. If you haven't done retirement planning, if you haven't even looked at into financial planning, first place to go be, go to the website. Just book a courtesy call. Just book a book, an intro chat, and talk to one of the team.

Jason · 26:41Likewise, if you're in business and you're looking to retire and you haven't even heard of small business CGT concessions, be happy to have a chat. Um, you know, contact the team at Future Advisory. That's what we're here for. And even beyond that. Our man, Marty, you know, just, just unpack strategy on where are you going, what does the next couple of years look like for me and my business?

Jason · 26:59And he can tie it all

Jason · 27:00together for you. So it's been an absolute privilege to have you listen to this episode. Thank you for joining us, and it's until next time,

Marty · 27:05if you leave money on the table, someone else will take it. Get advice game over.

Jason · 27:11This podcast is for educational and informational purposes only.

Jason · 27:15The conversations are of general nature and do not qualify as financial or tax advice. We recommend before you make any financial decisions, you consult a licensed professional. Individuals on the podcast may hold positions in the company's discussed. ---