15 over-60s share top retirement planning tips
Retirement. While it can be a scary idea given it represents change, the good news is that it’s the start of an exciting new phase of life – a new chapter that you can write to suit you. But like many things in life, a little planning now will go a long way. Whether it’s caravanning around Australia, following your passions and hobbies, or spending more time with your family, having a plan now means you’ll be set up to enjoy a retirement lifestyle you’ll love. So we asked the experts – you, the Over60 community – to share your suggestions for planning the perfect retirement.
1. “[You need] a little bit of structure [and] a lot of flexibility. Remember, you can now make your own choices! Enjoy, it's great!” – Ann Murray Jackson
2. “It's the simple things, look for joy in every day. Smile and say hello. Say yes to any opportunities that come your way, use your free travel on public transport, discover your local community parks, gardens, activities galleries and events. Make time with the grandchildren, make time with friends.” – Linett Carol Shave
3. “Make sure you are in a good super fund and not one that is picking your pocket.” – Barney Hunter
4. “Accept that you are retired, the guilty feeling of not going to work will fade. Don't take any notice of anyone who tells you what you should be doing, do whatever you want to do.” – Anne Mitchell
5. “My suggestion is to start planning as soon as possible. Any effort is better than no planning. By the time you are about to retire it's already too late.” – Michael J Flannery
6. “Retirement can be difficult for some. I’ve had many interests during my working life, some of which I have sustained in retirement. It really is up to a person to get to know themselves and what they like and do it within the budget constraints of a retiree. This style of approach does get you out and about and meeting different people, either in talking about common interests or going online with material. Have a go!” – Gavin Lawrie Weston
7. “Sort out how much you will need to live on a day-to-day basis. Then save and travel.” – Lyn Sinclair
8. “One of the hardest things I found after nearly 40 years defining myself by my career was that it was hard to redefine myself when I retired. We bought a small farm in a country town a few years before we retired. We visited at weekends and spent weekends and holidays there, to really confirm that we enjoyed the lifestyle. Retirement is an opportunity to either change your lifestyle completely, to maybe reduce to part time work if you love working, to take up new hobbies or just sit back and enjoy freedom! In other words it is the one time in your life, since early childhood that you can please yourself!” – Nita Crompton
9. “Think of it as a new phase where you can choose what to do with your time. It's what you make of it, and my husband and I are loving it.” – Ann Murray Jackson
10. “We began to make our retirement plans several years before actually retiring. We have joined the nomads on the road and totally enjoy our retirement.” – Dawn Peterson
11. “You have to close one chapter of life (work) and start a new chapter (retirement) and don't look back. Don't sit moping around. Join clubs, U3A, volunteer. Some of our days are structured; other days are unplanned. Count your blessings if you can.” – Christa Caldecott
12. “Before you retire, start a booklet of things you would like to do, clippings from local newspaper of groups you might like to join and look for interesting opportunities to volunteer in your community.” – Heather Duggan
13. “Work as hard as you can, while you can, add to your super too.” – Dianne Barnett
14. “Just enjoy every day – do what makes you happy, not what you think others expect you to do!” – Pam Thompson
15. “I have been retired for nearly 10 years and love it. The freedom to do what you want when you want is the best thing, not having to do the same things day in day out and not having a routine. Yes it can be boring if you let it happen that way, but I do not have the time to be bored. I have so much else to do. It’s about attitude; enjoy the golden years for that is what they are. Make the most of them.” – Carmel Woods
This article has been sponsored by AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898. The views expressed are those of Over60 and not AustralianSuper. For more information about AustralianSuper, please visit australiansuper.com.