Kaye Fallick

Kaye is a retirement commentator and coach, with 25 years’ experience writing about retirement income. She has authored two books on life stage changes – Get a New Life and What Next? – and enjoys regular radio and podcast appearances. Her favourite mission is to offer plain English explanations of complex rules so that all retirees can benefit. She is based in Melbourne but enjoys escaping to Italy whenever possible.
Approaching 66 -70? Key decision-making time

Approaching 66 -70? Key decision-making time

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This is the second part of a two-part article which defines the key decisions you will face as you move through your 60s. Last week Gary pointed out that 65 is not Age Pension age – he is, of course, correct – but we are recommending you consider key trigger points in retirement at least a year or two in advance so that you have time to maximise the outcome. Change is inevitable in our lives. Most of us feel better if we seize control and enjoy the upsides of change rather than just have it happen to us. This is particularly apposite when it comes to retirement income. It’s both possible, and powerful to plan ahead, putting things in place so that you retain as much control as possible.

Money mistakes to avoid in your 60s

Money mistakes to avoid in your 60s

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Milestone birthdays are definitely ones to celebrate. Hopefully you are at a stage where any ‘have tos’ of work, mortgage and parenting are reducing and the ‘get tos’ of travel, social events and fun hobbies are on the increase. Yes, there are always responsibilities whatever your age, but research suggests that those aged 60 and over have higher levels of contentment than younger generations.

Turning 60 is also a pivotal point in your retirement journey. As is turning 66, the year before you can apply for an Age Pension. In this first of a two-part series, we run through the key decisions you will need to make. Forward planning can be the critical success factor for stable retirement income. Knowing what’s ahead as you reach 60 will enable you to use the many rules of retirement income to your own best advantage.

Time to switch super? First consider the pros and cons

Time to switch super? First consider the pros and cons

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A recent ASIC report into so-called ‘superannuation reviews’ has thrown the spotlight on just how risky quick super changes might be. The subsequent ABC TV report on these questionable super ‘review’ services revealed dangerous traps for those saving for retirement. There is an ASIC investigation underway into at least three companies, whose modus operandi seems to be a cold call with an offer of better returns and pressure to sign documentation to move your super to their management. 

Whilst such tactics may sound like a scam to you, many unsuspecting people took the calls and considered the offering. Some even moved their money. We await an ASIC ruling to determine if this is a scam. But in the meantime, what this practice does raise is the broader issue of super performance and when it’s useful to move your super – or not. Today we focus on the pros and cons of rolling over your savings to a different fund and what needs to be considered before you do so. Our focus is on those either in retirement, or pre-retirement with money in industry or retail super funds. 

How your super can lead to a comfortable level of income in retirement depends upon many factors. So before weighing up the pros and cons, let’s explore the way super contributes to your ultimate lifestyle after full-time work through some questions about your understanding of super.