1 Start Your Retirement
5 Steps
- Consider if you can trim your current expenses to save a little more and boost your finances.
- Start paying extra on any existing debts to reduce your living expenses in retirement.
- Explore whether you can gift any assets or property to family to help with the Age Pension assets test. Gifting is not possible close to retirement, so this needs to be planned well ahead.
- Investigate potential government sources of income in retirement.
- Check if you will qualify for Australian Government concession cards and schemes in retirement.