December 5, 2023 | 8 min read
Summary: Retirement is one of the most significant milestones in our lives, representing the culmination of years of hard work and dedication to a career. To ensure you're as prepared as you can be for a fulfilling retirement, consider these six tips for retirement wellbeing.
Retirement is one of the most significant milestones in our lives, representing the culmination of years of hard work and dedication to a career. It's a time when we can finally kick back, relax, and enjoy the fruits of our labour.
But for many Australians, the prospect of retirement can be both exciting and daunting. Questions about financial security, health, and how to make the most of this new chapter in life, often loom large.
To ensure you're as prepared as you can be for a fulfilling retirement, consider these six tips for retirement wellbeing.
Financial security is one of the fundamentals of a happy retirement. To ensure you have the means to enjoy your post-working years, it's wise to plan your finances well in advance.
Start by setting clear retirement goals, including estimating your future expenses and calculating how much you'll need to cover them.
Here are some key steps to consider:
Your health is your most valuable asset in retirement, so taking steps to maintain and improve it should be a top priority. Here are some ways to ensure your retirement years are as healthy as possible:
Housing is a significant consideration in retirement planning. Whether you choose to stay in your current home, downsize, swap city for country, move interstate or overseas, or explore retirement communities, your living situation can impact your overall wellbeing.
We tend to crave peace and tranquillity as we age. Not having to go into work may mean that you no longer need to live in or near a city and can move to a more rural location if you prefer to be closer to nature. Here are a few ideas to consider around your future living arrangements:
Retirement isn't just about resting and relaxing; it's also an opportunity to pursue hobbies, interests, and passions that you may not have had much time for during your working years.
Engaging in the following meaningful activities can bring joy and purpose to your retirement:
Your retirement lifestyle will be unique to you, but it's important to create a schedule that works and continues to give you fulfilment. Here are a few considerations:
Navigating retirement can be complex but you don't have to do it alone. Seeking professional guidance can provide you with valuable insights and peace of mind. Consider consulting with:
Retirement is a significant life transition that requires careful planning and consideration. By taking these six tips for retirement wellbeing into account, you can set yourself up for a fulfilling and prosperous retirement.
Remember that the key to a successful retirement is not just financial security but also physical and emotional wellbeing.
Start planning today to ensure you're retirement ready when the time comes.
As one of the largest pension providers in Australia,* we know that growing and keeping your money safe is important. When it comes to support, we go the extra mile—providing general pension advice at no additional cost.
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This article has been prepared by NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465 (NULIS) as trustee of the MLC Super Fund ABN 70 732 426 024. NULIS is part of the Insignia Financial group of companies comprising Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (‘Insignia Financial Group’). The information in this article is current as at January 2024 and may be subject to change. This information may constitute general advice. The information in this article is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider obtaining independent advice before making any financial decisions based on this information. It is recommended that you consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) before you make any decisions about your superannuation. You can obtain the latest copy of the PDS (or other disclosure documents) and TMD by calling us on 132 652 or by searching for the applicable product at mlc.com.au. You should not rely on this article to determine your personal tax obligations. Please consult a registered tax agent for this purpose. Opinions constitute our judgement at the time of issue. The case study examples (if any) provided in this article have been included for illustrative purposes only and should not be relied upon for decision making. Subject to terms implied by law and which cannot be excluded, neither NULIS nor any member of the Insignia Financial Group accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in the information in this communication.