Knowing when to retire
Today’s episode with Terri Bradford from Morgans Financial is all about navigating one of the biggest transitions in life: knowing when it's time to step back from full-time work—or even to retire.
Today’s episode is all about navigating one of the biggest transitions we face in midlife: knowing when and how to step back from full-time work—or even retire. I’m joined by the inspiring Terri Bradford, former Head of Wealth Management at Morgans Financial, who spent 25 years as a leader in the finance industry. With her extensive expertise, Terri made the bold decision to transition into a flexible, part-time pre-retirement phase—what I like to call her Prime Time. And she joins us today to help everyone better understand how to know when the time is right.
Terri’s story is both relatable and a testament to her deep understanding of this space. She shares how her decision was shaped by health challenges, demanding travel schedules, and a desire to prioritise her relationships and well-being. From her unique vantage point as a financial expert, she offers us actionable insights into recognising the signs it’s time to step back, planning for financial and emotional readiness, and avoiding the pitfalls many people face when making this transition.
But Terri’s journey isn’t just about stepping back—it’s also about staying connected to meaningful work, rediscovering hobbies, and embracing reinvention. I’m quite sure her thoughtful perspective and expert advice will resonate with you — whether you’re actively planning your next phase or just starting to explore what your life might look like in five or ten years and when time might be right for you to explore the ‘R’ word. Let’s dive in!
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the show:
How Terri knew it was time — and her journey to the decision to make change
After 25 years in a leadership role at Morgans, Terri successfully transitioned into a flexible, part-time pre-retirement phase. Her story is both deeply personal and highly relatable, offering a blueprint for anyone rethinking their work-life balance in midlife.
Signs it’s time to step back
Terri shared the key things that helped her recognise it was time for a change: feeling unhappy, tired, and questioning the future.
She reflected on the common midlife shift many Gen Xers face, re-evaluating the “why, what, and how” of their lives.
Expert advice: planning for prime time
Terri highlighted the importance of “prime time” as a phase of staying connected to meaningful work while shedding what no longer serves you.
Her key takeaway: choice is a superpower. Proactive planning ensures you’re in control of your transition, not forced into retirement unprepared.
Mastering the financial and emotional balance
Terri offered expert insights on financial planning, starting with understanding your cash flow.
Compare pre- and post-retirement budgets.
Identify income sources like superannuation.
She stressed the importance of emotional readiness: addressing fears, leaning on support systems, and building confidence for the road ahead.
Superannuation strategies and pitfalls
Terri emphasised how important it is to understanding how your super is invested.
She urged people to explore using tools like salary sacrifice, personal contributions, and downsizer incentives to build wealth.
Estate planning done right
Terri’s advice: Start estate planning early and review regularly to leave a legacy of clarity, not conflict.
Practical tips for a seamless transition
Terri’s key advice: Visualise your ideal life in five years and reverse-engineer the steps to get there.
Use resources like ASFA Retirement Standards and ASIC’s Moneysmart to personalise your strategy.
Life beyond work: passions and reinvention
Drawing on her own experience, Terri revealed how exploring hobbies like martial arts and sewing brought balance and joy to her life.
Her message: Don’t just retire—reinvent.
Terri’s story is both an inspiring case study and a masterclass in navigating the transition to retirement. Her advice blends personal experience with her deep professional expertise, making this episode essential listening for anyone preparing for their own prime time or thinking about when might be the right time to retire.
Last chance to book your place on our February Course at 25% off
Our next How to have an Epic Retirement Flagship Course kicks off on the 13th February 2025 and runs for six weeks until the 27th March 2025. We’ve got some amazing guests for our Live Q&As, and the program has been updated and improved for 2025.
So get on over and book in your place. Welcome packs are sent this week and earlybird prices drop away anytime now so don’t delay!
➡️ Book your place on the website here
Hi, the end comment about where you want to be in five years time and work forward is excellent, l think l have been looking too much at just a date to retire without the what.
Excellent advice thank you.
Hi. I am in pre-retirement mode at the age of 67. I have noticed that a lot of your material assumes that someone will receive an aged pension to some level.
I have been told squarly by my financial advisor that I won't get any at all. Am I missing something?