One of the biggest challenges for retirees is working out how much of their savings they can afford to spend each year. Fear of running out of money and a reluctance to seek financial advice means many people withdraw the minimum amount required from their superannuation account-based pension. But what if there was a ... Read more
Changing pace: Retiring and thriving together
Most of us look forward to retirement. We envisage having the time, money and freedom to pursue our favourite hobbies and interests, take that course we’ve always wanted to, travel, spend more time with family or simply slow down and smell the roses. While retirement can be a wonderful time, for many couples it is ... Read more
Is a bucket strategy the solution for your retirement income plan?
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. Your investments need to not only keep pace with inflation, they also need to grow to pay for your lifestyle and to be protected from investment risk. Balancing all ... Read more
Five common financial mistakes people make just before retirement
Preparing for retirement can be fraught. Not everybody wants to finish working, and some may be wondering what they are going to do with their days when the initial novelty of sleeping in and travelling wears off. There is also the concern that the money may run out. During such a stressful time, keeping on top of your ... Read more
Guide to transition to retirement pensions (TTRs or TRISs)
If you’re on the final stretch to retirement and would love to start winding back your working hours but you don’t think you can afford it, listen up. Ditto if you plan to keep working full-time for a while longer and want to boost your super but haven’t got the ready cash to make extra contributions. Help could be at ... Read more
What to do if the market tanks and you’re retired, or close to it
These are challenging times for investors, especially if you’re about to retire or already drawing on your super. After 10 years of positive returns from super and 28 years without a recession in Australia, the risk of a market correction or a more prolonged downturn are building. Geopolitical and economic risks are ... Read more
How to navigate the different phases of retirement
When we talk about getting a retirement plan together, we usually mean planning how we are going to fund our lifestyle after we’ve stopped working. But while saving for your retirement is vital, preparing yourself emotionally for this major life transition is just as, if not more important. We look at the five phases ... Read more
What you must do to get ready for retirement if you own a business
Retiring can be one of the biggest life changes we ever make and needs careful thought and planning. If you own a business then likely that planning will be more complex than leaving a job and you may need to start getting ready up to five years ahead. We talked to Peter McKnoulty, a Transition Planner, who ... Read more
Retiring soon? Here are 5 questions you need to answer first
The start of living your best life is in sight – but are you ready? Retiring is a huge step and it would be normal if you have some last-minute details to sort through before you make the final leap. In the run up to retirement, it’s important to prepare yourself financially and emotionally for what should be an ... Read more
Adjusting to retirement: 8 factors that can help
This is an extract from Enjoying Retirement by Michael Longhurst, published by Hachette Australia. Out now. $29.99. Michael Longhurst is a retired psychologist and leading authority in the area of adjustment to retirement. This extract presents findings from a research program that analysed the retirement experience ... Read more