Discovering Your Retirement Personality

New research from Challenger's Institute for Lifetime Income and Susan Bell Research has identified four distinct ways Australians experience retirement, and the findings challenge a common assumption. It is not simply the size of your superannuation balance that shapes your post-work lifestyle. It is your mindset. Whether you fall into the Carefree, Content, Cautious or Concerned camp can say more about how confidently you spend, save and enjoy your retirement years than your account balance alone. ...Read more

Are You Contributing Enough to Super for a Comfortable Retirement?

Most working Australians assume their employer’s compulsory super contributions will be enough to fund a comfortable retirement, but the numbers tell a different story. With ASFA now putting the comfortable retirement benchmark at $630,000 for singles and $730,000 for couples, this guide breaks down the age-based savings milestones you should be tracking against, why the 12% Super Guarantee alone may leave a shortfall, and the tax-effective strategies, from salary sacrificing to carry-forward contributions, that can help close the gap before you stop working. ...Read more

Exploring Annuities and Your Age Pension Entitlements

While the concept of annuities can sometimes divide opinion among financial professionals, they remain a specific feature of the Australian retirement system intended to alleviate the worry of outliving your savings. Because the government wants to encourage retirees to secure a steady income for life, lifetime annuities receive favourable treatment under both the Age Pension income and assets tests. If you are looking for ways to boost your regular Centrelink payments while creating a reliable income floor for your later years, understanding how these discounted assessments work is a worthwhile step in your retirement planning. ...Read more

Maximising Australian Age Pension Entitlement

Approaching retirement should feel like a well-earned reward for decades of hard work, rather than a confusing puzzle of rules and thresholds. While the Age Pension provides a financial foundation for a great deal of Australians, securing your maximum entitlement requires more than simply reaching the qualifying age. Because your regular payments are determined by a combination of the Assets Test and the Income Test, the specific ways you choose to structure your wealth can significantly boost your fortnightly income. Whether you are contemplating renovating your family home or thinking about picking up a few seasonal shifts at the local shops, the following article outlines five practical, everyday strategies to help you make the most of your retirement entitlements. ...Read more