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.

Retirees ‘flying solo’ with finances

Retirees ‘flying solo’ with finances

Retirees ‘flying solo’ with finances

A large number of retired Australians are independently navigating their way through their retirement finances.

Top Stories

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Surviving low rates

Surviving low rates

Surviving low rates

If you have your retirement savings in a term deposit, chances are you’re watching your ...

Improving the retirement system

Stability, integration the keys to improving retirement system

Improving the retirement system

What’s wrong with our retirement income system? Plenty, says Michael Rice.

Desperate to retire

Does Lorraine have enough to retire?

Desperate to retire

Lorraine* is 64 and wants to ensure she gets to enjoy a retirement. She asks ...

Older Aussies on the scrapheap

jobs queue

Older Aussies on the scrapheap

Government must act now to save older Australians from the jobs scrapheap: Anglicare.

The key culprit in price rises

The key culprit in price rises

The key culprit in price rises

The June quarter saw inflation pick up after a flat March quarter.

Funds hunt income for retirees

sinking feeling

Funds hunt income for retirees

Super funds posted modest gains in September, but are facing challenges to deliver income to ...

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

Retirees ‘flying solo’ with finances

A large number of retired Australians are independently navigating their way through their retirement finances.

Going it alone

Fatal flaw in retirement planning

Institute claims longevity tables are faulty and could ruin retirees’ strategies.

Faulty tables

Is retirement still attractive?

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

How long to work?

How much is enough?

Spend your age and a bit more

Simple rule of thumb helps retirees decide how much they can draw down.

Simple retirement rule

Aussies fear super shortfall

Just 19 per cent of Australians expect to be able to live comfortably off their super.

What about you?

Retirement slipping from our grasp

A new study reveals Australians are less confident they will be able to retire comfortably.

Pressure point

Making the transition to retirement

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?

Services to help you age at home

For all those who want to stay in their homes for as long as possible, Louise Biti, director of Aged Care Steps, has one critical piece of advice.

Home forever

Retirement Income

ATO publishes lost super hotspots

Australians can, for the first time, be reunited with lost money without having to take any direct action.

Missing any money?

Retirees need not live in poverty

Government funds are going to the wrong people, writes economist Matt Grudnoff.

Hardest hit

Super funds build momentum

Funds are off to a positive start in the December quarter.

Momentum building

Living in retirement

Retirees’ happiness on the slide

Australia’s global retirement ranking is dropping as fast as the official cash rate.

Super balances blamed

Retirees too conservative with super

The drawdown or spending phase of superannuation is ripe for greater attention.

Too conservative?

Boomers redefining retirement

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

Why old is gold

Resources

Your allowances and discounts

How can age pensioners ensure they are making every dollar count?

All your allowances

Retirement health checklist

Retirement planning is about so much more than just money.

Planning later life

‘Boom’ your way to happiness

Positive ageing expert reveals the simple secrets to a happy life.

Ancient wisdom

News

ATO publishes lost super hotspots

Australians can, for the first time, be reunited with lost money without having to take any direct action.

Missing any money?

Super funds build momentum

Funds are off to a positive start in the December quarter.

Momentum building

Retirees ‘flying solo’ with finances

A large number of retired Australians are independently navigating their way through their retirement finances.

Going it alone