Amanda Hardy Lai, Author at Retirement Essentials

Future-proofing your retirement

by Amanda Hardy Lai | Customer Stories, Planning for Retirement

For many retirees, home is where they want to be – to be part of a community, to stay connected to friends and family, and to enjoy their independence. If you’re thinking about what the options are for you to continue living where you are, you’re not alone. With some planning, and the right resources, you can continue to live comfortably at home, knowing you have support when you need it.

Australia’s aged care system is undergoing significant reforms, reflecting the strong preference of older Australians to remain in their homes as they age. The upcoming ‘Support at Home’ program is set to replace existing home care schemes by July 2025, and aims to make it easier for people to access tailored support services that fit their needs.

Let’s explore how government programs, financial strategies, and even small home improvements can help you create the retirement lifestyle you really want..

Unlocking financial freedom in your 70s: From work to play

by Amanda Hardy Lai | Customer Stories, Retirement Income

At 69, Bill was working part time, earning around $46,000, while managing two debts: a $30,000 loan due in five years, and an $80,000 loan over 12 years. What Bill didn’t realise is that he was eligible for $14,000 per year in Age Pension support whilst continuing to work. When I met with Bill we worked out that with a boost from an Age Pension entitlement, he could clear his smaller debt of $30,000 in just two years.

Once that’s paid off, he’ll be able to focus on reducing the remaining $80,000 loan more quickly.

We looked at the pros and cons of using a lump sum payment from his superannuation to help see the impact of these options on his retirement savings.

Bill is looking forward to travelling in his camper-trailer and spending more time catching up with friends and family. He’s still enjoying the work at the moment but wants to take some leave and enjoy a full month off each year. He now has increased confidence that his debts can be managed and an exit from working is possible in the near future.

The bad news is that, by delaying making a claim until age 69, Bill has missed out on two years of Age Pension payments. This is roughly $30,000, which would have been of great assistance with reducing his debt. There are many others like Bill who are still working and self-reliant and don’t think to ask for help or realise they are now eligible for some Age Pension payments.

Making smart and informed financial decisions

by Amanda Hardy Lai | Retirement Advice

Hi, I’m Amanda – one of the financial advisers at Retirement Essentials, and I’m here to make sense of what can sometimes feel like a whirlwind of financial decisions in retirement. I understand that money can be a complicated and often stressful topic. Whether it’s wondering if you can afford to retire, managing superannuation, repaying debt, Age Pension rules, or figuring out the best way to make the most of your wealth, I know that the sheer number of topics and technical terms can make your head spin. My job is to cut through that confusion and provide clear practical advice that helps you feel confident and in control of your financial future.

So, how did I get here? I didn’t always know that financial planning was where I’d end up. I knew I was good with numbers and enjoyed problem solving, but it wasn’t until I started working with real people and seeing the difference that good financial advice can make that I realised it was something I was passionate about.

Being a financial planner is not just about crunching numbers – it’s about helping people like you with the information and knowledge necessary to make your best financial decisions.

When I meet with a client, the first thing I want to know is: ‘What’s important to you?’ We all have different priorities, whether that’s enjoying a comfortable retirement, downsizing the home, reducing debt, or finding out when you might become eligible for Centrelink Entitlements including the Age Pension or Commonwealth Seniors Health Card (CSHC). Whatever your goals, my job is to make sure you have all the information that you need to make a smart, informed decision.