Sorting out your finances
Having a budget and monitoring it regularly can help keep your finances on track while making the most of your retirement years.
When can you retire?
You can retire at any age, however you need to be:
- between at least 55 and 60 years old to access your superannuation, depending on when you were born
- 66 years and 6 months old or older to qualify for the Age Pension (this will increase to 67 in 2023).
Managing your money
Retirement often involves changes to how you spend your time and money.
Moneysmart lists benefits and concessions, as well as:
Services Australia also offers:
- practical information to help you budget
- planning advice to deal with debt.
Get financial advice
For confidence and peace of mind that your budget and plan are in the best shape possible, consider getting advice from an independent financial expert.
Input and guidance from a finance professional can:
- help you set and achieve goals with the most appropriate investment strategy
- alert you to a wider range of taxation and asset management issues
- maximise super returns.
Moneysmart offers these tips when choosing a financial adviser.