RETIREMENT
Manage your pension
Just like with super, you can take control of your pension. It’s all about reliable tools and information to make sure you can depend on your super for as long as you can and even keep saving.
MONEY FOR YOUR RETIREMENT
It’s important to take care of the super money you have saved over your working life and, if possible, to save money after you retire as well.
Generally, we expect life in retirement to be a somewhat relaxed affair with plenty of time spent with family and friends. Throw in some travel, a new past time and perhaps more volunteer work and things can get busy, but in a more fun way.
While we hope not to have to stress about money, it’s important to take care of what you do have and, if possible, to save money after you retire as well.
As your retirement/pension fund, we can help you by providing information you need to manage your pension—through getting online access to make things more efficient and accessible, giving you information about the Age Pension to supplement your income, and by giving you some food for thought on estate planning.
To get you started, here are three quick tips on making the most of your money in retirement:
Diversify your investments
You may want to have at least some of your money invested in growth assets with higher expected long term returns such as shares or property, and spread your investments around using different strategies to reduce risk. It may help to get some financial advice based on your individual situation, so you can better balance the risks you face with the investment returns you need.
Find a part-time job
It might help to work a few hours a week at a relatively stress-free job, if you can and want to do so. Not only will it help to bring in a little extra spending money, it will also keep you active, both mentally and physically. The Australian government has incentives, such as the Work Bonus, to encourage people to work past retirement age.
Track your spending
Keep an eye on how much money you have coming in versus the amount you need to allow for bills and expenses. You might find some areas where you can easily cut back on your spending now to help you to enjoy your retirement in the future. Try using an online tool such as MoneySmart’s Budget Planner.
RELATED TOPICS
What's next?
AWARDS AND RECOGNITION
Our achievements
Don’t just take our word for it. See our awards and recognition.
For further information about the methodology used by Chant West, see www.chantwest.com.au
INSIGHTS AND INSPIRATION
Tap into our Knowledge hub to learn more
A better retirement starts now
Are you counting down to retirement? Got a lot of questions, but not sure who to ask? Then this could be a good time to look into a Retire Ready meeting. It’s our way of helping you prepare for retirement with confidence and peace of mind.
Resisting temptation can have great rewards
Human beings have developed language, conquered gravity, and made the most of our opposable thumbs and infinite imaginations. What we’re not terribly good at though, is overcoming our own worst impulses – particularly as investors.
Three keys to navigating volatile markets
When the news cycle looks alarming and markets fluctuate wildly, it’s normal to worry about your super. Consider these three guiding principles to ease some of the angst.