Retirement is a major life milestone—often exciting, but sometimes uncertain. Superannuation, Account-Based Pensions (ABPs), investments and spending plans all have moving parts, and working out how they fit together can feel overwhelming.
That’s when some professional guidance and support can make all the difference. Today we highlight how Retirement Essentials’ adviser, Nicole Bell, has helped members, Mei and David to build clarity and confidence about the road ahead.
The discussion following ‘Is the Age Pension Fair?’ really stirred things up, and quite rightly so. There’s clearly a strong desire amongst older Australians to stay active and boost their income in retirement. Many of you shared your stories, outlining the twists and turns with Centrelink regulations, feeling penalised for having a go, and wanting to keep contributing your valuable skills. This follow-up i focuses on real-life experiences and practical information, particularly for those running their own business.
Understanding the rules
Let’s face it, the Age Pension rules around work and income can be a bit of a maze. Here’s a straightforward breakdown of key points.
We’re still working but my husband’s health isn’t great. Could we clear our mortgage using super so he can stop working sooner?
That’s the question Mia brought to me recently. She and her husband Raj live in a family home in outer Melbourne. Both are in their mid-60s and still working, but Raj’s recent health issues have made keeping up with their mortgage repayments a source of anxiety.
Raj has been working mainly to cover the mortgage, and this ongoing stress was starting to affect his wellbeing. Mia was wondering: if they knew it was financially possible to retire and pay off the mortgage, would Raj feel more at ease about stepping back?
Mia and Raj’s situation is a great example of the many unique conversations I have with clients. Retirement planning is rarely just about numbers—it’s about peace of mind, wellbeing, and balancing financial security with life’s uncertainties.