UniSuper: Planning for retirement starts now
Retirement looks a bit different for everyone, mostly because we all have a unique set of circumstances that dictate how (and when) we retire. Let’s look at some things to consider in the lead up to your retirement, which might also help drive your financial goals.
Your lifestyle
How do you want to spend your time? It’s likely you’ll have more time to pursue your interests than ever before and there are unlimited possibilities.
It doesn’t matter if your interests are creative, physical, or academic, or whether you want to do something alone or as part of a group, there’s bound to be something out there for you. What matters is that you find something enjoyable.
Your health
Australians are living longer these days, which means we’re doing something right. Research shows us that people who cope best with retirement are those who stay active and involved.
Taking care of your physical health is scientifically shown to improve mental wellbeing, and vice versa. If one declines, the other can be affected too. That’s why a holistic approach to health where you consider your physical, social, emotional, and mental health is necessary for your wellbeing.
Your living situation
Have a think about where you live and what you may want in the future. Do you enjoy city living, or are you considering a tree or sea change? Or vice versa? Perhaps you want to try living in a new state or country?
Many retirees decide to stay in their homes, as long as they’re physically able to. But as you get older, your housing needs change. You may wish to upgrade, downsize or move to another home that better suits your needs as you age.
Hot tip! If you’re thinking about selling your home, you may be able to contribute up to $300,000 (or up to $600,000 as a couple) from the sale of your home into your super, subject to certain eligibility requirements. Learn more about downsizer contributions by visiting UniSuper’s website.
Need help with next steps?
You can talk to UniSuper’s award-winning financial advice team to plan your ideal retirement and maximise your savings. UniSuper super consultants can also provide information and general advice across a range of topics at no extra cost, whether you’re a UniSuper member or not. Book an appointment in-person at the St Lucia campus, via video or over the phone, or call 1800 823 842.
Want a little more inspiration?
Meet UniSuper’s RetireMentors, who don’t see retirement as the end of their story – but the beginning of a new one. Watch the video series here.
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unisuper.com.au
