Mintwell Can Assist in Preparation of Retirement


Consider the timing of your retirement. While this could change over time, it's good to have a starting point.

Lifestyle and Priorities

Prioritise what matters most to you. This might be for example, maintaining social activities, staying active, pursuing a career change, or deciding on where you want to live.

Income and Living Costs

Estimate your daily living costs. Do a budget to prioritise your spending. Work out how much income you'll have, and from where.

Plan for the Future

If you can, boost your retirement income by contributing more to your super. Decide how to pay off your mortgage or other debts and build a savings buffer. Check you have an up-to-date will and power of attorney.

Applications for Pensioner Concession and Seniors Card

Gives you access to cheaper utility and medical bills, and discounts on public transport in some states. You must:

  • be aged 60 or over, and
  •  get the Age Pension or other payments from Centrelink

Gets you cheaper prescriptions and medical appointments. You must:

  • be of Pension age,
  • meet an income test, and
  • not receive Centrelink payments

These are voluntary contributions, also known as non-concessional (after tax). This means that you can make contributions into your super fund of up to $110,000 per financial year without any additional tax.

You can also make voluntary concessional (before tax) contributions to your super account by having a salary-sacrifice agreement with your employer. These concessional contributions are taxed at just 15%, providing you an opportunity to increase the amount of money going into your super account and potentially paying less tax.

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