Heading Towards Retirement? Here's What You Need to Know

Retirement isn’t what it used to be. People are living longer, want more freedom, and face more financial complexity than ever before. If you’re getting close to retirement age, you might be asking yourself:

• Will I have enough?

• What if I outlive my savings?

• How do I navigate super, tax, and government rules?

These are real, valid concerns — and the good news is, you don’t have to face them alone. A qualified financial adviser can help you retire with clarity and confidence.

Top Concerns for People Heading Towards Retirement - And How a Financial Adviser Can Help

1. Will I Have Enough to Retire Comfortably?

Concern: "How much is enough?" is the most common question.

How a Financial Adviser Can Help:

• Calculates your retirement income needs based on your goals and lifestyle

• Creates a personalised plan, not a one-size-fits-all estimate

• Models scenarios such as early retirement, downsizing, or part-time work

2. Running Out of Money (Longevity Risk)

Concern: With many retirees living into their 90s, will your savings last the distance?

How a Financial Adviser Can Help:

• Builds a sustainable income strategy across 25–30+ years

• Adjusts drawdown rates and asset allocation to manage risk

• Incorporates guaranteed income products if suitable (e.g. annuities)

3. Uncertainty Around Superannuation

Concern: Super rules can be complex and constantly changing.

How a Financial Adviser Helps:

• Optimises contributions and withdrawals based on your age and tax position

• Structures super for tax-effective retirement income

• Helps navigate SMSFs and fund selection if appropriate

4. Rising Cost of Living and Inflation

Concern: Will your savings keep up with the rising cost of healthcare, energy, and everyday living?

How a Financial Adviser Can Help:

• Designs an investment strategy that grows with inflation

• Balances income generation with long-term growth

• Reviews and updates your plan regularly to stay on track

5. Navigating the Age Pension & Government Benefits

Concern: Do I qualify for the Age Pension? How does my super and home affect it?

How a Financial Adviser Can Help:

• Assesses your eligibility and forecasts entitlements

• Structures assets to legally improve Centrelink outcomes

• Manages reporting and compliance to avoid payment errors

6. Healthcare & Aged Care Costs

Concern: What if I or my partner needs care? How much will it cost?

How a Financial Adviser Can Help:

• Plans for in-home or residential care costs

• Helps understand means testing and funding options

• Coordinates strategies to reduce financial stress on loved ones

7. Leaving a Legacy / Estate Planning

Concern: Ensuring your family is looked after and assets are passed on efficiently.

How a Financial Adviser Helps:

• Works with estate lawyers to align your financial and legal plans

• Structures super, insurance, and investments for efficient transfer

• Helps manage intergenerational wealth planning

8. Making the Emotional Shift

Concern: Retirement is more than financial. Many fear loss of purpose or identity.

How a Financial Adviser Can Help:

• Encourages values-based planning (not just financial independence)

• Helps visualise your ideal retirement lifestyle

• Provides ongoing support and accountability through life changes

9. Tax Implications of Selling Assets to Fund Retirement

Concern: Selling a property, business, or shares can trigger large capital gains tax bills that eat into retirement savings.

How a Financial Adviser Can Help:

• Calculates potential CGT and explores ways to reduce tax liability

• Times asset sales across financial years to spread out tax impact

• Utilises small business CGT concessions (e.g. $500,000 retirement exemption)

• Coordinates with accountants for tax-smart asset liquidation strategies

• Helps assess if asset sales are necessary or if income can be generated another way

In Summary

Retirement planning isn’t just about saving money. It’s about knowing your options, having a clear strategy, and feeling confident about the future. A qualified financial adviser can help you make smart decisions that give you more freedom, more control, and more peace of mind.