Retirement planning can feel like a merry-go round of decisions, leaving you dizzy with the different directions you can pursue. With so many moving parts, it’s easy to feel overwhelmed. Two recent member dilemmas have highlighted how different people approach planning — and how enhanced clarity can make the process feel surprisingly manageable.
Susan: Finding the sweet spot
Susan had done her homework. She knew how superannuation and Account-Based Pensions work, had a target super balance in mind, and knew her desired retirement income. Yet she kept asking herself: how much is enough? Is there a ‘sweet spot’ where her super is just right — large enough to support a comfortable retirement but not higher than necessary?
Her main concern was whether she could afford to retire earlier and ease the pressure of making ongoing contributions, or if she needed to keep working part-time a little longer to build up her super balance. Through a Retirement Advice Consult, Susan explored both scenarios side by side. This gave her clarity not only about the numbers but also about the lifestyle trade-offs involved. She came away confident in understanding whether her $55,000 annual income goal was realistic – without locking herself into working more than she wanted.
Richard and Barbara: Downsizing and super boosts
Richard and Barbara were thinking about downsizing in the next few years, but wanted to understand how the move might affect their retirement plans. Because they hadn’t owned their home long enough (10 years), they weren’t eligible for the downsizer contribution. However, being under 75 meant they could still take advantage of the Non-Concessional Contribution (NCC) bring-forward provisions.
In a Retirement Advice Consultation they were able to model their spending to check whether their current lifestyle was sustainable in the years leading up to the move to a smaller home. From there, we looked at the way that putting surplus funds into super could help stretch their savings further. Seeing these scenarios mapped out gave Richard and Barbara a clearer picture of how their home, super contributions, and Age Pension could work together — and the reassurance that their plan could support both the move and their longer-term financial security.