Amanda Hardy Lai, Author at Retirement Essentials

How to spend with more confidence: a better way to budget in retirement

by Amanda Hardy Lai | Retirement Spending

Do you ever wonder if you’re spending too much – or not enough in retirement?

You’re not alone. Many retirees tell us they feel unsure about what’s “safe” to spend. Others are reluctant to touch their savings at all, even when they know they’ve worked hard to build them up. It’s easy to understand why. Once the regular pay cheque stops, even day-to-day spending can feel like a risk.

But the truth is, you don’t have to keep guessing – or stressing. With a little structure, a clearer view of your numbers, and some smart forecasting, you can take control of your budget and start making more confident choices.

Earning more in retirement: What if you’re already asset tested?

by Amanda Hardy Lai | Centrelink Age Pension

If you’re on a part-Age Pension because your assets are above the lower threshold, you may be in a stronger position to earn extra income than you realise – even beyond the Work Bonus.

Here’s why.

The Age Pension is reduced under two separate tests:

The income test, which reduces your fortnightly payment by 50 cents for every dollar of income over the threshold

The assets test, which reduces your payments by $3 per fortnight (or $78 per year) for every $1,000 of assets over the threshold

?You can see the current income and assets test thresholds here.

When you are being assessed, Centrelink will apply both tests, but you’ll receive the lower fortnightly amount determined by whichever test reduces it more. So, if your Age Pension is already being cut because of your assets, any extra money you earn from work (even beyond the Work Bonus) might not affect your payment further. This continues until your income becomes the main reason for your fortnightly payment reduction.

Taking the Age Pension with you: What you need to know before retiring overseas

by Amanda Hardy Lai | Centrelink Age Pension

For many Australians, the idea of retiring overseas is more than just a lifestyle dream — it’s a practical plan. Whether driven by family ties, better weather, or a more affordable cost of living, an increasing number of retirees are exploring life beyond Australia.

But taking your Age Pension with you isn’t as simple as booking a one-way flight. Centrelink has strict portability rules that can significantly impact what you’re paid, when you’re paid, and how long those payments continue. Planning ahead – with a full understanding of income tests, asset rules, and international agreements – can help make that dream retirement a sustainable reality.

Popular destinations

Australians choose to retire overseas for a range of reasons, and a few locations consistently stand out:

New Zealand
Just across the Tasman, New Zealand appeals for its cultural similarities, proximity and ease of travel. It’s a natural choice for many Australians with family connections or prior work history there.

Tip: If you’ve lived or worked in both Australia and New Zealand, the time spent in each may have already helped you qualify for the Age Pension.

Southeast Asia

Countries like Thailand, Malaysia, Vietnam, and Indonesia (particularly Bali) are favoured for their warm climates and low cost of living. Many Australians find their retirement savings go further here, especially in areas such as healthcare and accommodation.

Southern Europe
Italy, Portugal, and Spain continue to attract Australian retirees seeking a Mediterranean lifestyle, good healthcare systems, and accessible retirement visas. While these countries are not as close to home, they offer thriving expat communities and a slower pace of life.

Wherever you choose, it’s essential to consider the local visa rules, tax systems, and support services – and how Centrelink’s portability rules will apply to your specific situation.