Skip to content

5 things you should do before retirement

3 minute read
Retired couple enjoying a camping trip

You’ve worked hard your whole life, but knowing retirement might be right around the corner can be daunting. Setting yourself up for a smooth transition out of the workforce is important, so we’ve put together a cheat-sheet to help you enjoy your retirement.

1. Set your goals

One of the biggest changes in retirement is all of the time you will now have to do the things you’ve always wanted! Whether it’s growing a veggie patch, practising your golf swing or learning a new language, write a list of goals now so you have things to work toward after you leave the workforce.

2. Look after #1

There’s never been a better time to focus on your own health and wellbeing than now, so use your upcoming retirement as an excuse to look after yourself. Keep active and eat well, but also be aware of any risk factors for potential diseases you might have. Don’t forget about your mental health either, finding ways to remain fulfilled is essential!

Take advantage of government co-contributions, pre-tax salary sacrifice and post-tax super top-ups

3. Have money on the mind

Depending on the lifestyle you’ve got in mind for your retirement, you’ll need to think about how to fund it. Money Smart’s retirement calculator can help you determine how far you are from your current situation to retire, giving you some direction on what you’ll need to do to obtain your ideal retirement lifestyle.

4. Sort out your super

Take advantage of government co-contributions, pre-tax salary sacrifice and post-tax super top-ups. No matter what stage you’re at in your career, you have the potential to impact your superannuation positively before retirement.

5. Get organised

You’ll likely want to spend a lot of your extra time in retirement with loved ones; so it only makes sense to consider them once you’re gone. Organising a will and estate plan and nominating a power of attorney are all great places to start.

Depending on your financial needs, nib Life Insurance could act as added financial protection for your loved ones if something were to happen to you.

Products promoted by nib health care services pty ltd ABN 91 003 037 625 AR Number 321683 of TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260 which also administers policies and claims. TAL Life Limited, ABN 70 050 109 450 AFSL 237848 is the issuer of the life insurance benefits and St Andrew’s Insurance (Australia) Pty Ltd, ABN 89 075 044 656 AFSL 239649 is the issuer of the Involuntary Unemployment Cover. The information given here is general advice only and does not take into account your personal financial situation, needs or objectives. You should consider the appropriateness of this advice, having regard to your financial situation, needs and objectives. Please consider the combined Product Disclosure Statement (PDS) and Financial Services Guide before deciding whether to buy or to continue to hold this product.

See all articles

Articles you might also like

How to choose glasses for your face shape

We asked the experts for info on finding your perfect fit

The 5 biggest sun safety myths you need to stop believing

It's time to bust some of the biggest sun safety myths

Oat and cinnamon breakfast cookies

These delicious cookies are full of healthy fats and fibre

Ricotta and basil eggplant pizzas

This eggplant pizza recipe is perfect for the whole family

How to choose glasses for your face shape

We asked the experts for info on finding your perfect fit

The 5 biggest sun safety myths you need to stop believing

It's time to bust some of the biggest sun safety myths

Oat and cinnamon breakfast cookies

These delicious cookies are full of healthy fats and fibre

Ricotta and basil eggplant pizzas

This eggplant pizza recipe is perfect for the whole family