Funding your dream retirement
How do you replace a paycheck in retirement? We explore the strategies, safety nets and mindset shifts that can help.
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Over the past month, we’ve talked about planning for retirement, finding purpose beyond work and creating a life you’ll actually want to wake up to.
But there is one final piece of the puzzle: how do you pay for it?
In the final episode of our New Rhythm of Retirement series with Aware Super, I’m joined once again by Peter Hogg and Lynda Cross to tackle the money mechanics of retirement.
We discuss one of the biggest psychological adjustments retirees face: moving from the predictable rhythm of a regular paycheck to funding your lifestyle from your own savings. We also explore the opportunities hidden within your biggest assets, including your super and family home, and unpack some of the strategies that can help stretch your retirement income further.
As we know, retirement isn’t just about having enough money. It’s also about having the confidence to use it.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
The retirement mindset shift: Why seeing your super balance go down can feel so uncomfortable - and why it’s completely normal.
How to build confidence in your retirement income: The simple planning techniques that can help reduce financial anxiety.
Don’t let inflation quietly erode your savings: Why being too conservative can sometimes create its own risks.
The downsizer contribution explained: How selling your home could help boost your super in the lead-up to retirement.
Cash in the bank vs money in super: The trade-offs many retirees don’t realise they’re making.
When life throws a curveball: How to access extra money without feeling like you’ve derailed your retirement plan.
The Age Pension surprise: Why more Australians qualify for some level of support than they realise.
One of the most valuable retirement benefits nobody talks about: And why it’s worth applying even if you think you’re only eligible for a small payment.
From Bec’s Desk
Happy Prime Time podcast day!
This week is the final in our panel-style-series with Aware Super. It’s been a real hoot to bring this different format to life, in-studio, that tackles both the life-issues and the money-issues in one show.
As you no doubt can feel, the financial year is coming to a close and the next week is really the last window for any contributions you want to be making to super for the FY25/26 year. In fact most super funds close off their contributions by the 25th June, some earlier. So if you’ve got some tidying up to do - don’t delay.
I did a long look through of all the options in the Sydney Morning Herald and The Age last weekend. You can read it here.
“Over 50, use these 7 ways to boost your super by July 1”
Even if you can’t make a contribution, take a minute to look at your balance, check your investment returns are close to what you expect, and take a note of the fees you’re paying. And think about whether you might be able to afford to put a salary sacrifice in place to pay your super before tax next year. Finally, ask yourself - is it worth booking in some super-advice for the next month or two and checking everything is on track and in order.
Once you’ve done that, pat yourself on the back for being proactive and thinking about your super! It’s worth it!
Hope you enjoy the show.
Thanks for listening! Cheers Bec Xx
What happens to a pensioner’s life savings when “money” becomes a permission slip instead of a possession?
https://nromanov.substack.com/p/what-will-happen-to-pensioners-over?r=8isc4s&utm_medium=ios