6 Checklists for Your Retirement Planning

When you are planning for your retirement emotionally, you need to also ensure that you are financially ready too. You might have different plans to spend your retirement time enjoying leisurely activities, socializing with mates, and indulging in the odd trip away, but do you ever think what will it cost for you? If you have not thought about it yet, then you should start it soon by understanding all the retirement options in Melbourne. Here are a few checklists that you must consider for your retirement planning.

  • Is There Any Certain Age for Your Retirement?

    In Australia, there is no set up of age for the retirement life. If you want to take retirement from your work, then you can take it anytime. But certain factors might play an important role such as financial situation, your health, your and your partner's individual preferences, employment opportunities, and others.

  • How Much Money Do You Require in Retirement?

    In March 2021, the Association of Superannuation Funds of Australia (ASFA) has announced that couples and individuals who are aged 65 and planning to retire now would require a specific annual budget to fund a modest lifestyle versus a comfortable lifestyle. The annual budget for a single person requires $44,412 for a comfortable lifestyle and a $28,254 modest lifestyle. Similarly, the annual budget for couples requires $62,828 for a comfortable lifestyle and $40,829 for a modest lifestyle.

  • What is Your to-do list in Retirement?

    There are certain things whether can be smaller or bigger priorities that you always want to do in retirement that must be listed out. It may include your social life and recreation, helping the kids, different retirement options in Melbourne, staying active and healthy, etc.


  • Where Will You Get the Fund of Money?

    There are different sources that you can use to fund your life in retirement. It can be government benefits, investments, an inheritance or savings, and your super fund.

  • What Other Matters Will Be Required to Address?

    When you are planning for your retirement, you also need to address other matters like insurance, existing debt, estate planning, and investment preferences.

  • How Can You Withdraw Your Super?

    There are huge options that you can utilize in the meantime for withdrawing your super. It can include transition to retirement pension, annuity, account-based pension, and lump sum.


If you are still confused about the retirement options or land lease communities regionally, then you can contact a trusted and loyal service provider to get help in retirement planning.

Location: Victoria, Australia

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