I’m at least 10 years away from retirement, but I admit there are times when I’ve pondered my future in the small hours, especially when work or family circumstances change.
Financial worries are surely universal and, leading up to or during retirement, anxiety about money can feel overwhelming. It’s in these quiet sleepless hours that the big life questions take centre stage.
Peace of mind is a cornerstone of a secure retirement. While many Australians prioritise financial security, ensuring your wishes are carried out after you’re gone is equally important. This is where having a valid will comes in. Our recent July 2024 Retirement Pulse – Wills and your estate survey revealed some interesting insights on this topic.
Over 88% of respondents believe it’s crucial to have a valid will. This aligns with the reality that a will allows you to dictate how your assets – from property and investments to personal belongings – are distributed after your passing. This not only honors your wishes but also helps minimise stress and potential conflict amongst loved ones during a difficult time.
As of 20 March 2024, the Age Pension in Australia has increased. The information detailed below shows the increases, as confirmed by the Federal Government, including supplements for singles and couples.
For a single person, the maximum Age Pension will increase by $19.60 per fortnight to $1116.30
For a couple, the maximum Age Pension will increase by $29.40 per fortnight to $1682.80