1 Start Your Retirement
9 Steps
- Set a rough date for when you would like to retire.
- Review how much you currently have in your super account. Check out SuperGuide’s Super to income reckoner tool.
- Investigate when you can access your super and the tax implications of retiring at different ages.
- Estimate how much you have in financial assets outside super that could help create income in retirement.
- Consider whether you’ll own your home outright when you retire, or if you will still have a mortgage you need to pay off.
- Add up your other debts and think about whether you plan to pay them off so you can retire debt-free.
- Consider whether you’ll still be financially supporting your children or your parents when you retire.
- Think about any major one-off expenses in retirement (family weddings, overseas holidays, major home renovations).
- Investigate whether you (and your partner) will qualify for the Age Pension or other government benefits in retirement.