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Moving to retire involves several decisions at once: when to sell your current home, the tax implications of the sale, whether you’re eligible to make a downsizer contribution to super, what your new lifestyle will really cost and how you’ll draw an income in retirement. Brisbane and the surrounding areas offer a wide range of retirement lifestyles, from inner-city apartments to established suburbs and homes closer to the bay or the bush, and costs vary accordingly, so your plan should be built around the lifestyle you actually want.

It’s the question we’re asked most. The answer depends on your super, your investments, whether you’re eligible for the Age Pension and the lifestyle you want. We build a cash flow plan that shows what you can expect to live on, then structure your investments so income keeps flowing even when markets are volatile.

Common strategies in the final years before retirement include catching up on concessional contributions if you have unused cap from previous years, reviewing your fund’s investment option as you approach retirement and thinking about the timing of any non-concessional contributions. If you’re selling a long-held home, a downsizer contribution may also be relevant. Eligibility rules apply, so it’s worth getting advice before you contribute.

Beyond having enough super, the key questions are when to start drawing a pension, how to structure a transition to retirement if you want to keep working part-time, and what to do with the family home. Brisbane’s lifestyle costs and warm climate can also shape your retirement budget, so it helps to plan around the way you actually want to live.

The Age Pension is income- and assets-tested, so many retirees qualify for a part pension rather than the full amount, and eligibility can change as your assets and income change. Age Pension age is currently 67. Your family home is generally exempt from the assets test, but other assets and income count. We’ll model what you’re likely to receive and how it fits with your super and investments.