Living well in retirement

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Wellbeing in retirement

When planning for retirement, financial security is essential for maintaining a comfortable lifestyle. While it’s tempting to focus solely on your bank or superannuation balance, it’s important to consider other key factors that can significantly impact your wellbeing in retirement.


Fundamentals for wellbeing in retirement

Understanding your values and priorities across 4 key areas of wellbeing. Planning around these fundamentals can help you confidently prepare for the lifestyle you desire in retirement.

 

  • Wealth
  • Work
  • Home and lifestyle
  • Health

Wealth

Wealth provides choice, opportunity, and a regular income stream.

  • Assess your desired lifestyle: Consider factors like travel, hobbies, and leisure activities.
  • Review income calculators: Estimate your desired retirement income.
  • Develop a budget: Include essential expenses (housing, healthcare) and entertainment spending (dining out, travel).
  • Evaluate day-to-day expenses: Ensure you’re getting the best value for money by reviewing your subscriptions (e.g. streaming services) and utilities such as your energy and gas service providers.

Work

There are various choices available when transitioning from working to retirement.

  • Plan your retirement date: Decide when you want to stop working and transition into retirement.
  • Consider transition plans: Options may include semi-retirement, a career shift or volunteering.
  • Explore alternate work arrangements: Consider part-time, freelance, or consulting roles.
  • Keep the option to unretire: Stay open to returning to work if needed.

Home and lifestyle

Consider what your day-to-day living in retirement will look like.

  • Assess your living arrangements: You may want to downsize or relocate your home closer to family.
  • Consider activities: Join clubs or pursue new hobbies.
  • Budget your time: Understand how you will spend your time on activities such as pursuing new hobbies, learning new skills, looking after grandkids, travelling, and spending time with family and friends.

Health

Health underpins your overall retirement physical and mental wellbeing.

  • Stay physically active: It could be anything you do in your day-to-day life, such as running errands or doing housework1.
  • Prioritise good sleep habits: Sleep is important for your physical and emotional health and wellbeing2.
  • Stay connected: Spend time with friends, family, and your community.
  • Visit your GP regularly: Schedule regular health assessments.
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Education & webinars

 Attend a webinar and hear from our experts to help you make informed decisions about your super.

Retirement offers new opportunities

Nearing and starting retirement can be an exciting time with many different options and opportunities for you to consider. Things like semi-retirement, reduced work hours, or having a career change can all be pathways you decide to choose if you aren’t ready for full retirement.

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Planning for retirement

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