Retirement

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With most Australians now living much longer and stronger we will all probably spend more time after full-time work, getting a new life. Retirement used to be the stage of life where you gave up work and looked forward to life full of Saturdays, but now a successful retirement takes a lot more planning and skill to get the timing right.

Retirement should be seen as the opportunity to seek new challenges, to try something different in the workforce or realise some of the dreams you’ve held throughout your working life. Finding your way through retirement requires planning for your whole future, not just focusing on your finances.

Planning not only offers the best chance to achieve your goals, it also helps you work out what the type of retirement you don’t want and can ensure you avoid the common mistakes that can see all your years of hard work simply wasted. We all value our independence very highly and the best way to maintain independence is through good health and a firm financial footing which will deliver maximum choice as we age.

The Retirement section of YourLifeChoices website has been organised into seven main categories to help you plan and enjoy the next stage of life. Critical points to consider when retirement planning are timing, your emotional readiness, how much (money) is enough and maximising your nest egg with an effective transition to retirement.

And don’t forget that every quarter we bring together the best brains in the business to answer your questions on how your super can work best for you, making the most of your income in retirement, your rights in retirement, the latest government, health and technology news, relationship dilemmas and so much more in our Retirement Update. 

Timing your retirement
Ensuring the optimal timing of your retirement right is the first step, so how do you achieve this? 

 

Retirement planning
Retirement planning is often considered in a purely financial terms, but there’s so much more to consider than just money.  

 

How much is enough?
With people living longer on average in retirement, it’s understandable that running out of money is a major concern. So how much do you need to fund retirement? 

 

Making the transition to retirement
Very few people go from working full time to full-time retirement, so what can you do to enjoy a successful transition? 

 

Retirement income
There are several ways to secure an income in retirement, so here's a plain English summary of the main options.

 

Living in retirement
Options for living in retirement and how your home can help fund your retirement lifestyle are varied, so which choices do you need to consider? 

 

Resources
Access our many retirement resources, including calculators, checklists, FAQs and quarterly Retirement Affordability Index. 


Do you know if you qualify for an Age Pension? Find out with our RetirePlanner tool.

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Are you in aged care denial?

Are you in aged care denial?

Are you in aged care denial?

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How to ensure you won’t get a pension

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How to ensure you won’t get a pension

Retired actuary John De Ravin crunches the numbers on owning a home and the Age ...

COVID-19 intergenerational war

old hands and young hands holding money

COVID-19 intergenerational war

Long-term strategies and quick fixes are required, but who’ll fund them?

COVID-19 recovery could take years

COVID-19 recovery could take years

COVID-19 recovery could take years

Throwing Australian retirees a lifeline could save more than retirement dreams.

Money going to the wrong people

Biggest trap for retirees? Our entire retirement income system

Money going to the wrong people

Australia must confront fundamental problems with its retirement income system.

Middle Australia’s mean pension test

Middle Australia’s mean pension test

Middle Australia’s mean pension test

Actuaries worry means test will force Australians to spend savings before retirement.

Timing Your Retirement

Is retirement still attractive?

Staggering number of YourLifeChoices members don’t ever want to retire from work.

How long to work?

Seven questions about retirement

What comes to mind when you think of your retirement? Is it excitement?

The big questions

Older Aussies leading the world

Australia has ranked second in a study measuring the resilience of global workforces.

Are you adaptable?

Retirement Planning

Trends redefining retirement

Retirement planning is complex, but these trends are set to make things even harder.

Trendsetters

Retirees shun advice during COVID crisis

Many Australians feel professional financial advice is only for the rich.

‘Too costly’

Super fees ‘high’ and set to get higher

Blame COVID-19 and a royal commission, but your super looks set to cost your more.

‘Parasitic industry’

How much is enough?

Tracking cost-of-living increases

Cash-Strapped Couples and Singles and Constrained Singles bear the brunt of cost-of-living increases in the December quarter.

Wine costs drop

Life is for living, while funds last

Increased longevity is heaping real pressure on retirees’ finances.

How to ensure income

Take guesswork out of retirement

Retired actuary and ‘rule of thumb’ co-creator John De Ravin explains how you can spend with confidence in retirement.

Don’t run out of money

Making the transition to retirement

Is part-time work right for you?

Retired actuary John De Ravin crunches the numbers on part-time work to help you decide.

What to take into account

Boomers redefining retirement

With baby boomers redefining retirement, workplaces must evolve, writes Luke Fitzpatrick.

Why old is gold

Older Aussies leading the world

Australia has ranked second in a study measuring the resilience of global workforces.

Are you adaptable?

Retirement Income

Super changes for older Aussies

More older Australians can now make voluntary contributions to their super.

Greater flexibility

ATO acts on super rorters

Data-matching program set to uncover anyone exploiting the early super release scheme.

Beware the penalties

Test your retirement income knowledge

Quiz will quickly show whether you’re on the right path – or not.

Can an annuity help?

Living in retirement

Do you still need life insurance?

Are you sure that you don’t need your life insurance policy any more?

Five reasons to keep it

Where retirees want to age

Seniors want adaptable housing and neighbourhoods that help them as they age.

The right ‘fit’

Older Australians facing financial ruin

Government assistance is only good if people can access it.

Falling down

Resources

Making sense of longevity

There may be things we wouldn’t want to know, but it would help retirement planning.

The spending balance

Retirement health checklist

Retirement planning is about so much more than just money.

Planning later life

Charting a course through retirement

There are huge positives to maintaining your learning, even post-retirement.

Course to success

News

Grandparents in a tough spot

Lives or livelihoods? This is the choice many grandparents may soon have to make.

At what cost, to whom?

Middle Australia’s mean pension test

Actuaries worry means test will force Australians to spend savings before retirement.

A mean test

‘Stunning’ results for super

Superannuation fund results defy coronavirus crisis, APRA stats show.

Super results

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