Retirement basics

Having a sound financial strategy as you approach retirement age means you can stop stressing about your finances and start thinking about what comes next.

When should you retire?

There’s no right or wrong age to retire. It’s up to you when to leave work and having your finances in order will help you retire on your terms.

Transition to retirement strategies

With transition to retirement strategies you can access some of your super tax effectively while you’re still working, helping you get used to the idea of retirement. Or, you can use this strategy to boost your super balance.

When can you withdraw?

Making smart decisions about when to access your superannuation – and how to do it – will make a big difference in how long your retirement money lasts.

Think twice before cashing out your super

It’s important to get advice before cashing out your super, as it’s hard to reverse your decision once you withdraw and you could end up paying too much tax.

An income in your retirement

There are many options you can use to generate an income in your retirement. You may also be eligible for social security benefits, such as the Age Pension.

Estate planning

Planning your estate and putting your affairs in order is a time-consuming process. Professional advice can help you minimise tax and get the best result for your beneficiaries.

• Important information
  The information contained on this web page is of a factual nature only and is not intended to constitute financial product advice. It has been prepared by Commonwealth Financial Planning Limited without considering your individual objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual needs before making a decision based on this information. Commonwealth Financial Planners are Representatives or Authorised Representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169, AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.