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Case Study #3 - Approaching retirement with confidence

Financial Planning  |  8/09/2016  |   2 min read

The scenario

Robert is aged 66 and about to retire. He is currently working part time. He has approximately $790,000 in superannuation, $80,000 in savings, and $60,000 in shares. He still has a mortgage, and would like to do some home renovations and take an overseas trip in the near future.

The plan

Robert wants to pay off his mortgage and be debt free before retirement. He’s hoping to receive about $40,000 a year in retirement income including Centrelink benefits. He’d like to keep $50,000 as a cash reserve for emergencies, and has planned an overseas trip.  

The strategy

After reviewing Robert’s situation we suggested he could pay off his mortgage using a combination of his savings ($62,000 from his mortgage offset account) and superannuation ($72,000).   

We also recommended that he open an Equip Account Based Pension. This would allow him to claim a tax-free pension of $1538 a fortnight (approximately $40,000 a year). Any investment earnings on his super would also be tax-free, enabling him to offset some of the drawdown.  

Finally, we advised Robert to apply for a Seniors Card and a Low Income Health Care Card. 

These recommendations would set him up for a comfortable retirement lifestyle, with an income that meets his requirements.

Find out how  Equip Financial Planning can help you plan for the future here


*The case study outlined above is based on a real-life financial planning situation presented to Equipsuper Financial Planning. For privacy purposes, the names of the clients and their family members have been changed.

This information is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Before making a decision to invest in the Equipsuper Superannuation Fund, you should read the relevant Equip Product Disclosure Statement (PDS). Past performance is not an indication of future performance. Issued by Equipsuper Pty Ltd ABN 64 006 964 049 AFSL 246383.  

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