Three weeks ago we asked our readers “What advice would you give to others nearing or in retirement?”. Thank you all so much for your contributions. We will share some with you today and over the forthcoming weeks.
Have a plan to keep active and engaged
For many, retirement is a terrific time of life. In fact when we asked readers:
- 47.3% felt it was the best time of their lives,
- 39.1% were neutral and
- only 14.6% didn’t think it was the best phase of their lives.
This is fantastic and exciting but as we are living much longer in retirement these days it is important to stay healthy and stimulated. Some suggestions included:
- Build social networks – friends, family and interest groups
- Have one goal to achieve each day – it doesn’t have to be big
- Have fun
- Keep moving
Get help or advice including
- Help with setting up your super – before and after retirement,
- Help to deal with Centrelink – it really is a nightmare for some people
- Structuring your assets to help maximise your entitlements e.g. paying for that new bathroom or kitchen before you apply for the age pension rather than after can make a big difference
- Just talking to people – you are not the first person to plan for or experience retirement
- Advice on how best to pay off or reduce debt before you retire – peace of mind is vital
What occupied your mind the most?
We also asked readers what occupied their mind the most when planning for retirement. The response here was overwhelming.
- 64.6% of people said it was how to fund their retirement
- 12.8% said travel and lifestyle
- 9.9% mentioned health considerations and
- 4.5% proximity to friends and family
What did you want to hear about from us?
And finally we received a lot of feedback on what people would like us to write about in our emails and blogs. Some popular topics that we will expand on in the future included:
- Investment articles including how different investments can affect your entitlements
- Any changes the Government makes to entitlements including pension rates, thresholds and tax treatment of assets and investments
- More articles to help self-funded retirees
- General investment articles
- Pros and cons of downsizing
- How to navigate the Centrelink nightmare
- Avoiding the common pitfalls that can impact your entitlements
- How to fund my retirement
- What are all the concession I can receive if I hold the Pensioners Concession card or the Commonwealth Seniors Health Card?
There was a lot more and some of you also wanted us to take the Government to task for their treatment of Seniors while one reader said that we should all just think up the three things that really matter – your health, your finances, and the people you care about. That’s a pretty good philosophy.
So what would other advice could you offer retirees? You are welcome to add your comments or you can check your entitlements here.