This article explains the key complexities of Australia’s age pension and helps retirees understand eligibility, rules and paperwork with more confidence. It also outlines practical steps to maximise entitlements and feel more secure in retirement.

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We’d all love to be self-funded in retirement, but for many of us it’s simply not possible. Sometimes we can partially self-fund, sometimes not at all and this is where the government provides assistance.

Depending on your circumstances, you may be eligible for either a part or full age pension, but the Australian age pension system is notoriously complex.

When trying to understand your eligibility, it’s easy to become confused by questions around means tests, deeming rules, residency requirements etc, making it difficult to understand how much, if anything at all, you’re entitled to receive.

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This 10-step guide will help you to understand what a transition to retirement pension is, what the rules are, how to weigh up the pros and cons and how to go about the application process.

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As you progress towards retirement age, the idea of reducing your working hours can be appealing, especially if you can do it without reducing your income. Fortunately, there is a way to do this. It’s called a Transition to Retirement Income Stream (TTRIS), which allows you to supplement your part-time income with regular payments from your superannuation savings.

Alternatively, if you have an above-average income, a TTRIS could help you to reduce your tax while boosting your super balance.

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Many Australians are anxious about retiring — financially, emotionally, or both. This article outlines practical steps to help your clients prepare for a smooth transition, with strategies that support long-term financial security and a meaningful post-work lifestyle.

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Not ready for retirement? You’re not alone. An Australian National University survey found that 56% of respondents were concerned about finishing work.

If thinking of retirement leaves you feeling more insecure than excited, perhaps your retirement strategy needs rescuing.

These easy steps will get you started.

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Retirement is a major life transition that can impact your identity, emotional wellbeing, and social life. This article explores the common challenges of retirement and offers strategies to help you plan for a fulfilling and confident next chapter.

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If you don’t feel prepared for retirement, you’re not alone.

Retirement preparedness doesn’t just mean having enough money to leave work but includes emotional challenges like your sense of self and what your future might look like.

Set yourself up for a rewarding retirement by meeting the following common challenges, head-on!

Financial stress

Regardless of how much you’ve saved, fear of outliving your super can lead to over-cautious spending and avoiding social activities.

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In part two of this two-part series, we follow Sarah and John, a couple with a 13-year age gap, as they navigate the complexities of retirement. Their story offers practical insights and strategies to help couples align their goals and build a retirement plan that reflects their shared vision for the future.

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When you meet the love of your life, it’s natural to imagine growing old together. But what many couples don’t consider are the practicalities of how that journey will unfold. For couples with a significant age gap, retirement planning can bring unique challenges, requiring extra care to align differing goals, timelines, and priorities.

Take Sarah (55) and John (68), for example. John was ready to retire and explore the world, while Sarah still felt invested in her career. They had differing timelines, energy levels, and concerns about long-term financial security. Instead of avoiding tough conversations, they leaned into them, and together they

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FORO – the fear of running out – can prevent retirees from enjoying the fruits of their labour. This article uses a case study to illustrate how a well-structured financial plan can help overcome this fear, enabling a fulfilling and financially secure retirement.

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FORO – the fear of running out.

I’d never heard the expression until I met Mark and Susan. Of course I’d heard of FOMO, the fear of missing out, but never FORO.

As the newly-retired couple sat across from me, explaining how they were so afraid of running out of savings that they were not enjoying the retirement they’d worked so diligently for, I grasped the meaning of FORO immediately.

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This article discusses the aspiration of early retirement and emphasises the importance of careful planning and dedication to achieve this goal. It highlights key steps, including assessing one's financial situation, creating a tailored financial plan with the help of a financial adviser, minimising unnecessary spending, and diversifying investments to ensure a comfortable retirement lifestyle.

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The dream of retiring young is one that captivates many peoples’ imaginations. The freedom to live life on your own terms, doing what you want, when you want is undeniably appealing, but is it attainable?

We say yes!

It doesn’t just happen, though. As with any goal, it takes planning and dedication along with a clear understanding of when and how you expect to achieve that goal.

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This article explores the "Three Pillars of Retirement Income," encompassing the age pension, compulsory superannuation, and voluntary savings. With many retirees unaware of these potential income sources, we delve into each pillar's significance and how they can work together to secure a stable financial future during retirement.

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While older Australians are reportedly among the wealthiest retirees in the world, much of their wealth is tied up in their family home, leaving many to worry about how they will find the money to pay for their day-to-day expenses when they stop work.

During the past two decades, Australians have been able to rely on the so-called ‘Three Pillars of Retirement Funding’. These include the age pension funded by the Federal Government, compulsory superannuation and voluntary savings.

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The article discusses why Millennials and future generations may never fully retire due to the rising cost of living, increased life expectancy, and higher expectations for a comfortable lifestyle.

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Millennials in Australia are facing an unprecedented challenge when it comes to planning for retirement. Many will never fully retire, as they will be unable to accumulate the necessary funds to support themselves for an extended period of time. With the cost of living steadily increasing, and many millennials grappling with large debts and limited financial resources, it is likely that more people will have to work well into their golden years.

How much is needed for a comfortable retirement?

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With escalating cost of living pressures, retirees are turning to the untapped equity in their homes to compensate for their lack of income. This piece explores the pros and cons of accessing this equity through reverse mortgages and equity release schemes.

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Retirees feeling the pinch of higher living costs, are reluctantly making difficult decisions as they draw dangerously close to outliving their retirement savings.

A 2021 report released by the Association of Superannuation Funds of Australia (ASFA) found that 90% of Australians who died aged over 80 years had no superannuation savings – an alarming statistic given that our average life expectancy is currently 83.6.

For many retirees, the family home remains their only asset. Not generally subject to capital gains tax, or assessable under the assets test, it represents financial security, independence and family history which is why downsizing is an unpopular option.

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An outline of the challenges facing millennials in Australia today, who are trying to plan for their retirement as they battle cost of living rises and other financial headwinds.

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While millennials have for decades been treated like ‘the children of Neverland, who never grew up’, reality is fast catching up with this generation, who are now young adults between the ages of 24 and 40.

Like generations before them, they are now buying, or at least trying to buy, homes and starting families of their own. And with this, the stark reality is that their retirement is looming just around the corner in the early years of 2050.

For all too many, planning for their retirement is just something they don’t want to face. But the reality is that the sooner they start ‘mapping’ or preparing for their retirement, the better off they will be.

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This article provides an introduction to the FIRE movement, including three practical tips that can be used to create healthy financial habits.

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FIRE… Financial Independence, Retire Early. Sounds nice, doesn’t it?

It’s easy to see why the FIRE movement is burning hot across the younger generations. The notions of financial independence and early retirement are surely appealing to the majority.

But as with most good things, it comes at a price, and it’s important to weigh up the pros and cons to decide what is right for you. {snippet title="Article Subscribe Message"}{/tabs}

This article explains the three stages to retirement, and then focuses on the final ‘Frail Years’. We outline the most important considerations when planning for these years and cover Government assistance, through to strategies for retirement planning. 

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The Golden Years… a time of leisure, travel and more time with the grandchildren. This is likely what springs to mind when someone mentions the retirement phase of our lives.

However, did you know that your retirement years are typically split into three main stages – the active years, the sedentary years and the frail years?

While most will hope and/or plan to spend up big in the active years, it’s important to ensure you also plan on having adequate funds set aside for the frail years. These are the later years of retirement where health and functional capacity may begin to decline, and additional care and support may be required. {snippet title="Article Subscribe Message"} {/tabs}

This article looks at the current behaviours of older Australians with respect to downsizing the family home, as well as factors that should be considered when weighing up the decision to downsize.

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To downsize or not to downsize is the question facing many home-owning Australians in the lead up to or in their retirement years.

And the answer is… it depends.

There are many factors to consider when weighing up the decision of whether to sell the family home or not, and it depends on your personal circumstances and goals as to which option is going to be the best for you.

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This article explains six of the top financial mistakes people make in retirement that could leave them outliving their savings and diminishing their quality of lifestyle.{tab title="Introduction"}

While retirement should be the best years of your life, many Australians make simple, avoidable mistakes with their finances that can leave them dependent on the age pension and without the funds to really enjoy life.

However, with some simple good advice at the start of retirement, these mistakes can usually be avoided, leaving retirees to focus on what is really important and that is, simply enjoying life.

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With the cost of living on the rise, it’s natural to want to give your children a helping hand financially. This article discusses important points to consider before gifting money to family, including implications on your future retirement savings and tax obligations. A case study is included to illustrate the importance of having the right protections in place.{tab title="Introduction"}

According to Finder.com, 44% of Australian parents feel the urge to subsidise their adult children’s lifestyles.

Besides helping with expenses such as university fees, utilities bills, etc., as home ownership moves beyond many young peoples’ reach, parents provide a leg-up into the housing market.

It’s natural to want to ensure your children’s financial security, regardless of their age, but is it possible to do so without sacrificing your retirement situation?

We say yes, but consider these points first:{snippet title="Article Subscribe Message"}{/tabs}

Having looked forward to retirement for years, it was difficult to accept that two people who had spent decades living happily together could spend so much of their time arguing over money.

"Enough," I cried in frustration. "We need help from someone who can tell us just how much you can spend on a new car to tow the caravan and how much I can spend on updating a twenty-year-old kitchen without us running out of money," I said.

Within days we were in the office of a local financial planner, who had no doubt heard it all before.

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With an aging population, an increasing number of Australians are opting to live in retirement villages. While pitched at the ‘over-55s’, the average age of entry is 75, and average age of residents is 81. Depending on the retirement villages, attractions include having home maintenance issues taken care of, more social contact, access to recreational facilities and on call assistance in case of medical emergency. Moving to a retirement village can also free up capital to support living costs in retirement.

These benefits all come at a cost, of course, and the type and amount of fees can vary enormously from village to village. There are also several different types of ownership or occupation rights or ‘tenure’. Most commonly, residents pay the market price of a unit in exchange for a long-term lease, or pay an upfront fee for a licence to occupy. Straight rental arrangements, often for serviced apartment-style accommodation, are also available in some villages.

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This article explains why retirees cannot park their funds entirely into conservative assets and enjoy a comfortable financial lifestyle. With the use of a case study, we explore the real-life impact of longevity risk and why it is important to retain some exposure into growth investments.

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Australian retirees face a ‘double whammy’ when it comes to funding their retirement. On the one hand we, as a nation, are enjoying longer and healthier lives. On the other hand, recent low interest rates have slashed the returns on the traditional bedrocks of post-retirement investment portfolios such as term deposits, cash management accounts and annuities.

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Many people eagerly anticipate retirement. Others view its approach with trepidation, worried over how they’ll fill their days.

Australians are living longer; it’s not unreasonable to assume you’ll be retired for 20 or 30 years. Not sure how you’ll fill all those days? We have a few ideas to kick-start your new life.

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