Ways to retire well
Redefining retirement
Retirement isn’t about retiring from life. It’s time to refire, rewire and renew. And while having your finances sorted is certainly important aspect of retirement planning, it’s only part of the picture. Having a clear purpose, building connections with those around you, taking care of your physical and mental health, and looking after your financial wellbeing – they’re all essential ingredients when it comes to getting the most from your next chapter.
Keep your money working for you when you’re retired
Retirement income options
You might be retired, but your retirement savings have plenty of work to do yet. Average life expectancies mean we’re living longer in retirement than ever before. So if you want to enjoy a retirement that’s as comfortable as possible, your retirement savings need to be able to go the distance. Here we take a look at some key considerations to help you maximise your savings throughout your retirement.
A word on what’s right for you
This page provides information and some key considerations for investing your retirement savings through your retirement. But keep in mind that it’s general information only. For information that’s tailored to your own financial circumstances and objectives, consider getting qualified financial advice.
Exploring your options
Even in retirement, we all need different things from our investments. That’s why Equip Super offers a range of different investment options.
How long you’re likely to be invested is always a critical factor in helping to determine which investments are right for you.
For many of us, retirement could last for 20-30 years or more. In investment terms, that’s still quite a long time horizon.
While you were younger, a key focus for your super investments was accumulation – simply saving as much as you could and maximising your investment’s potential for growth.
Now that you’ve retired, your investment needs to multitask. It still needs some potential for growth in order to be able to sustain itself and continue to help fund your retirement. But there’s also an increasing need to reduce risk and keep the day-to-day income you draw from your investment relatively shielded from any market volatility.
A relatively higher allocation to income assets (such as cash and fixed interest), to help to protect your portfolio against the impacts of volatility, so you can continue to draw a steady income to help fund your retirement.
The investments that are right for you depend very much on your financial circumstances and what you want from your retirement.
A typical retirement investment may include:
- Some growth assets (such as Australian and overseas shares) to help maintain some level of growth in your portfolio
- A relatively higher allocation to income assets (such as cash and fixed interest), to help to protect your portfolio against the impacts of volatility, so you can continue to draw a steady income to help fund your retirement.
You don’t have to make an investment choice for your Equip Super Retirement Income or Transition to Retirement Income account. If you don’t make an investment choice, we’ll automatically invest your account balance as follows*:
- in the Capital Stable investment option if you’re a Transition to Retirement Income account member
- in the MyPension strategy if you’re a Retirement Income account member.
These are ready-made portfolios of investments, selected by the experts, and managed by the experts on your behalf. Capital Stable is single investment option, whereas MyPension invests across three different investment options in varying proportions: Cash, Capital Stable and Growth.
* If you’re in the process of transferring out of an Equip Super Defined Benefit Plan, your transfer letter will explain how your new super account will be invested if you don’t make a choice. Contact us to learn more about your options.
Getting a little support and guidance from the experts can make a big difference when it comes to choosing the right products and investments for your next chapter, so you can make the move to retirement in the way you want to. Our qualified Financial Planners can help.
Income, assets and the Age Pension in retirement
Retirement income streams let you turn your super (and other investments and savings) into regular income payments. If you're eligible, the government Age Pension can work alongside these other income sources to provide you with a more comfortable retirement.
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Events
Attending a seminar or webinar is a great way to learn more about your super, and have your questions answered by industry professionals.
Events
Attending a seminar or webinar is a great way to learn more about your super, and have your questions answered by industry professionals.
Knowledge Hub
Learn about super contributions, retirement, investing and more through interactive modules.
Knowledge Hub
Learn about super contributions, retirement, investing and more through interactive modules.
The process of retiring
What might your retirement look like? Watch this helpful video to learn the simple questions you should ask yourself when beginning to plan your retirement.
Additional reading
Can I retire?
Most Australians retire on a combination of their super and the Age Pension. This means even a modest super balance can be topped up with Age Pension payments to help you enjoy a more comfortable lifestyle. Read more
How much super do I need?
Are you retirement ready? If you’re thinking it might be time to escape the 9-5 grind and put your feet up you probably have a lot of questions. We can help you answer them. Read more
How much do you need to retire comfortably?
Our retirement calculator can provide a snapshot of your future super balance. But it also allows you to explore different strategies and their impact on your future balance and retirement options. Read moreWe can help you decide
Getting a little support and guidance from the experts can make a big difference when it comes to choosing the right products for your next chapter and helping you make the move to retirement in the way you want to. And our team is here to help.
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