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Home / In retirement / Income in retirement

Income in retirement

Income in retirement

In Australia there are 3 main pillars of the retirement income system.

  • The Age Pension
  • Compulsory superannuation (through the Superannuation Guarantee)
  • Voluntary savings (whether through additional superannuation contributions, or outside the super system).

Many Australians also consider their home to be their most valuable investment, although it is not straightforward to convert property into a retirement income.

Working out what your retirement income is likely to be (or should be to ensure it lasts long enough) is one of the biggest questions Australians face when planning or preparing for retirement. Some of the key factors that impact this include how long you will spend in retirement, whether you are in a couple or are single, whether you plan to keep working, how much you spend, whether you own your home, what other assets or income you have, whether you are eligible for the Age Pension, how much your super grows in retirement and whether you want to help the kids.

Learn about the key aspects of planning your retirement income in the following SuperGuide articles:

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How the Home Equity Access Scheme works (formerly Pension Loans Scheme)

How the Home Equity Access Scheme works (formerly Pension Loans Scheme)

How much super do I need to retire?

How much super do I need to retire?

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Retirement cost-of-living: Tips to help improve your budget

Retirement cost-of-living: Tips to help improve your budget

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Reverse mortgages: What are they and how do they work?

Reverse mortgages: What are they and how do they work?

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‘Today’s dollars’: The impact of inflation on retirement income

‘Today’s dollars’: The impact of inflation on retirement income

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Rules of thumb: Do these popular retirement planning hacks measure up?

Rules of thumb: Do these popular retirement planning hacks measure up?

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How inflation affects your retirement income forecast

How inflation affects your retirement income forecast

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Which super funds offer income for life?

Which super funds offer income for life?

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Target retirement income: The 66–80% rule of thumb

Target retirement income: The 66–80% rule of thumb

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10 common ‘myth-conceptions’ about retirement income

10 common ‘myth-conceptions’ about retirement income

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How to maximise your Age Pension

How to maximise your Age Pension

How can you plan your income needs in retirement?

How can you plan your income needs in retirement?

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Is a bucket strategy the solution for your retirement income plan?

Is a bucket strategy the solution for your retirement income plan?

Set out below are the latest articles that relate to income in retirement.

PremiumHow the Home Equity Access Scheme works (formerly Pension Loans Scheme)

How the Home Equity Access Scheme works (formerly Pension Loans Scheme)

July 1, 2022

The Home Equity Access Scheme can be a great way to boost your retirement income by taking a loan from the government against the equity in your home.

PremiumSuper pensions vs lump sums: How they differ and why it matters

Super pensions vs lump sums: How they differ and why it matters

April 3, 2022

Retirees can withdraw their super as a pension or lump sum, but does it really matter which? For some of our readers, it certainly could.

PremiumRetirement cost-of-living: Tips to help improve your budget

Retirement cost-of-living: Tips to help improve your budget

April 3, 2022

Inflation is affecting more and more daily essentials but bank interest rates remain stubbornly low, so it may be time to revisit your retirement income plans.

PremiumReverse mortgages: What are they and how do they work?

Reverse mortgages: What are they and how do they work?

March 30, 2022

If you’re finding it difficult to make ends meet in retirement, one way to free up some extra cash could be to take out a reverse mortgage.

PremiumIn retirement case study: Boosting retirement income with downsizer contributions

In retirement case study: Boosting retirement income with downsizer contributions

February 25, 2022

Lee and Mandy are retired and want to see whether downsizing could increase their retirement income.

PremiumWhich super funds offer income for life?

Which super funds offer income for life?

July 4, 2021

It’s been a long time coming, but more super funds are responding to calls for reliable retirement income that lasts as long as you do.

PremiumDividends shaken but not stirred

Dividends shaken but not stirred

March 31, 2021

Corporate Australia is emerging from COVID in good shape and dividends are making a comeback. So what dividend yields are on offer and where do dividends fit into your income strategy?

Premium10 common ‘myth-conceptions’ about retirement income

10 common ‘myth-conceptions’ about retirement income

February 10, 2021

Even the experts acknowledge that our retirement income system is complex, so it’s important to clear up some common misunderstanding.

PremiumIs a bucket strategy the solution for your retirement income plan?

Is a bucket strategy the solution for your retirement income plan?

March 23, 2020

When you retire, how you put your investment portfolio together is more important than ever if you want your retirement savings to last as long as you do.

Renters Beware: How the pension and super could leave you behind

Renters Beware: How the pension and super could leave you behind

November 5, 2018

In a new set of research briefs published by the Centre of Excellence of Population Ageing Research, we report that most people do well out of our retirement income system and that the living standard of retirees has improved over the past decade.

PremiumRetirement income: When is the optimal time to purchase a deferred annuity?

Retirement income: When is the optimal time to purchase a deferred annuity?

December 13, 2017

In this article, Sean Corbett, an annuities expert, answers the important question of when is the right time to purchase a deferred lifetime annuity.

PremiumLongevity risk: How deferred annuities can help your savings last

Longevity risk: How deferred annuities can help your savings last

November 21, 2017

In this article we will consider how a person can best ensure that they maximise their income in retirement from their savings while at the same time ensuring that their savings last for as long as they do.

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