A retirement age does not exist. It is whenever you like and, most importantly, when you can afford it.
Putting yourself in a position to afford it can be difficult. The options are many, complex, and confusing. Age pensions should not be seen an income stream, and are subject to governmental changes and means tests. Plus, every investment and strategy comes with a risk.
“Potential retirees need to be armed with as much information as possible about how to fund their financial needs,” explains Basil La Brooy from the National Seniors Australia Financial Information Desk.
"While it is difficult to predict market downturns, you can empower yourself if you know more about how your money is invested."
To help, National Seniors are holding seminars for those interested in transitioning to retirement.
“I’ll be exploring the options for annuities, allocated pensions and superannuation, as well as answering questions about the changed Age Pension Assets Test, which came into force from 1 January this year,” said Basil.
The Financial Information Desk (FID) is an independent, confidential service funded by National Seniors that aims to improve the investment information available to older Australians. National Seniors members receive free access to the FID as part of their membership.
But you don't need to be a National Seniors member to attend the seminars - everyone is welcome.