Things to Consider Before You Retire

The prospect of retiring after years of hard work is something many of us look forward to. For you, the end of your working life may be in sight but sometimes the temptation to retire early is too strong for some to resist.

But it’s important to be as prepared – both financially, physically and mentally - as possible before you jump in and make a life changing decision.

See below for some important considerations to make and questions to ask yourself before you retire:

• How much money do I currently spend in 12 months?
• How much do I have saved?
• What will I receive each month in benefits? (Centrelink, pension etc.)
• Do I still have debt?
• What healthcare issues do I have now?
• What health issues run in my family?
• Do I want to stay living where I am or move somewhere new?
• Do I have sufficient and reliable healthcare?
• Am I emotionally ready to stop working?
• What do I want to do with my spare time?
• Would working part-time short term make sense?

The above list of questions is just a basic guide as to the types of things you need to consider before you retire. If it helps, employ the services of a financial planner – they’ll be able to give you an idea of how financially ready you are for retirement.

Begin your search for retirement villages and retirement living options in:

• Melbourne
• Sydney
• Brisbane
• Canberra
• Adelaide
• Perth