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Happy Retirees Start Preparing Years In Advance

Our team of retirement planning experts can help you devise a custom plan so you can retire just the way you want.

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Ensure a good retirement

Who are ‘pre-retirees’?

Pre-retirees are those people who are still active in their career, but who are in the final decade or so of their working life. Usually, they are aged 55 to 65 years.

Pre-retireee have limited time to get their finances sorted before they stop work. In order to ensure a good retirement, it’s essential for pre-retirees to focus on the core foundations of any sound retirement plan:

  • Superannuation
  • Debt reduction
  • Estate planning
  • Transition to retirement
  • Investments and insurance

There’s a lot of online (and offline) noise surrounding these topics. It can be very confusing.

For clarity, you may need to consult a retirement advisor that can provide you with recommendations based on your personal circumstances. 

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Why Pre-Retirees Need to Plan

Chaos.

It’s probably what happened the last time you went on a holiday without enough preparation. 

And it’s the same for retirement. Without a solid plan, things tend to quickly fall apart.

But the stakes are much higher later in life; debt, poor living conditions, stress, and public hospital waiting lists are what could be in store.

If you want a happy retirement, you must start planning now. 

organise your Plan

How to Get Started

Retirewise can help you develop a thorough retirement plan that includes superannuation, non-superannuation investments, budgeting, debt management, tax management and more.

We’ll start with your retirement goals and provide you expert advice so you’ll have peace of mind. 

Pre-Retiree Checklist

While you need to consider your personal circumstances in planning for retirement, here’s a sample checklist that you can follow to help you prepare:

Create Pre-Retiree Checklist
  • Take inventory of your assets & liabilities
  • Deal with your debt
  • Develop your pre-retirement spending strategy
  • Plan your retirement income
  • Review your entitlements
  • Plan for retirement care
  • Consider working as long as you can
  • Use retirement advisors the right way

Retirewise Can Help You

Be kind to yourself and your family.

Retirewise has a team of retirement planning experts who have decades of experience to help you retire the way you want.

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What Can A Financial Adviser Do For You

Frequently Asked Questions (FAQs)

What is the first thing to do when you retire?

There are many things you can do when you start retirement.

Perhaps the most important thing is to simply take a breath and enjoy a more relaxed pace. The years between 50 and 65 can be the most hectic in a person’s life. Often pre-retirees are juggling teenagers at home with busy careers whilst caring for elderly parents in aged care.

It’s a lot.

So when the time comes to retire, it’s important to look after your mental health first. However, many retirees decide to continue working, albeit in a more relaxed environment and with a lesser workload.

You may also choose to start working on unfinished projects, spend more time with family, launch a small business, or finally pursue your passion.

There are no strict rules with how to spend your new found ‘freedom’, so follow your heart!

What are the stages of retirement?

The retirement experience for Australians has evolved over recent decades. It’s no longer just a massive chunk of time in your life after you stop working. Retirement is now much more nuanced and fluid.

People often choose to wind down slowly, rather than stop working altogether.

What is less well known is that retirement is also an emotional journey. The changes in work arrangements and lifestyle often create challenges that retirees must navigate before settling into a wholly satisfying experience.

This journey has been categorised into several discrete stages:

  • Pre-retirement,
  • Honeymoon phase
  • Disenchantment
  • Re-orientation
  • Stability. 

It can be a serene experience for some, while challenging for others. The key is to plan ahead so you can enjoy retirement as much as possible.

Do I need a retirement advisor?

You can transition into retirement without the help of an advisor.

However, partnering with an expert can make this transition easier and help mitigate ‘execution risk’.

Managing your own retirement investments is often very complex, and can be a source of ongoing worry and stress. A specialist retirement adviser can alleviate this burden.

How much money do I need to retire in Australia?

Based on estimates by the Association of Superannuation Funds of Australia (ASFA), you need at least $640,000 if you are a couple or $545,000 if you are single in order to live a comfortable retirement.