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five key areas to consider when planning retirement

If you’re retiring within the next five years there’s a lot to consider. The obvious question everyone asks is how much do I need in retirement? But it’s the less obvious questions that can sneak up on you, leaving you unprepared.

Financial advice can really make a difference to your retirement plans. Use these questions as a basis for discussion with your financial adviser.

five key areas:

superannuation and investments

make the most of your money
ipac advisers have extensive knowledge in superannuation and investments and can make sure that you are making the most of your money leading up to retirement.

  • have you considered how much you need to retire on?
  • have you consolidated your super accounts?
  • do you know when you can access your super?
  • have you reviewed your asset allocation recently?
  • have you considered how to minimise tax on your super and investments?

Housing and assisted living


Aged care is a highly emotionally charged arena. Financial advisers can take some of the stress away from those decisions by laying out clear choices for you.

  • have you considered selling the family home to help fund retirement?
  • have you considered future housing needs eg downsizing, home modifications, assisted living, retirement villages and aged care?
  • have you considered issues with moving eg proximity to family, availability of public transport?
  • have you considered ways to release equity from the home?

social security and government benefits

  • do you understand the new work bonus and whether you are eligible?
  • have you structured your finances so that you can receive government entitlements?
  • what if you don’t want to give up work altogether, how will this impact your eligibility for the age pension?
  • apart from social security benefits, are you eligible for anything else now I’m retired?


  • have you thought about what you want to do in retirement and the costs associated with this lifestyle?
  • do you need to plan for any major expenses? eg major trip, home modifications
  • have you considered part-time work?

estate planning

  • is your will up-to-date?
  • do you need to provide for your families immediate cash needs?
  • have you considered any tax issues that could impact your estate?
  • have you considered whether your will could be challenged or whether your family could face any family court or bankruptcy issues?
  • have you arranged an enduring power of attorney?

ipac financial advisers can help you plan your retirement by

    • reviewing your financial situation to create a plan that reflects your goals and values
    • modelling different scenarios that help determine how much money you will need each year in retirement
    • work with you to develop a financial strategy that creates the life you want in retirement, and make sure you keep on track – by being your guide along the journey to retirement
    • providing a complimentary consultation where you get to decide whether ipac is the right fit for you and we get to know you better and identify strategies for your situation.

Make an appointment or email your enquiry today.    


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