Transitioning to Retirement

Create and Protect can provide a range of services to help you achieve a better retirement and maximise your tax benefits.

You may have already started thinking about your retirement and may have even decided the age you want to retire, but do you know if you’re in a position to get there?

Transitioning into retirement means different things to different people, so it’s important to find the right solution for your needs.

If you’ve reached the preservation age (between 55 and 60 depending on your date of birth) and have some super already accumulated, a transition to retirement strategy could help you boost your super savings without cutting back on your lifestyle.

You may want to consider reducing your work hours in the lead up to retirement, or taking advantage of a transition to retirement pension.

There are a number of strategies that aim to maximise your retirement while maintaining your current income.

Smart ways to boost your super include things like salary sacrificing to super, making lump sum contributions or using transition to retirement strategies.

Look after your spouse

Making sure you don’t run out of money is a big concern for most retirees. And what will happen to your spouse when you’re gone?

At Create and Protect, we have a solution that gives you peace of mind, so you don’t have to worry anymore.

Talk to us today to find out how you can:

  • get a minimum level of income each year, whatever happens in the markets
  • have the peace of mind that your spouse will be looked after; and
  • choose when you start receiving your income.

What is considered a modest and comfortable retirement lifestyle for retirees?

The AFSA (Association of Superannuation Funds of Australia) has produced a budget for various households and living standards for those aged around 65.

  Modest Lifestyle Comfortable Lifestyle
 SingleCouple SingleCouple
Total per year $23,662$34,051 $42,861 $58,784
Table: Lifestyle income