Average Retirement Age In Australia: When Should You Retire?
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Publicado 2024-07-26
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âș How Much Super Do You Need to Retire Comfortably: bit.ly/364JN5h
âș How Long Will My Money Last in Retirement: bit.ly/3hcIibz
âș How Much Super Should You Have: bit.ly/3hpcFu1
âș How Much Can You Contribute to Super? bit.ly/3jBLH5k
âș When Can You Access Your Super: bit.ly/3htrlIC
âș Should You Withdraw Super to Pay Debt: bit.ly/3hbtr0V
âș When Can You Access Your Super Tax Free: bit.ly/3h95JCh
âș How Much Super Do You Need to Retire At 60: bit.ly/3dzy1E1
â± Timestamps
00:00 - Average Retirement Age In Australia
00:38 - Retirement Trends
01:05 - Average Retirement Age
01:32 - Retirement Affordability
02:03 - Superannuation Retirement Age
04:45 - Centrelink Age Pension Age
06:27 - Retirement Age Things to Consider
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-- Average Retirement Age In Australia: When Should You Retire? --
The retirement age trend in Australia is ever-changing. In fact, there are several definitions of retirement, which makes it difficult to define one single retirement age.
This video explains how understanding the various ages associated with accessing your superannuation, together with the Age Pension age, can help you better plan for retirement, know where your income will come from and ultimately allow you to determine your intended retirement age.
Plus, Iâve included 5 things you need to consider when determining what age you should retire.
#SuperGuy #ChrisStrano #Superannuation #RetirementPlanning
DISCLAIMER: The SuperGuy website and SuperGuy YouTube channel contains general advice only. It is not personal advice as it does not take your specific needs or circumstances into consideration. Therefore, you should look at your own financial position, objectives and requirements and seek personal financial advice before making any financial decisions.
General advice is provided by Toro Wealth Pty Ltd trading as SuperGuy Retirement Experts as an Authorised Representative of Core Value FA Pty Ltd (AFSL 480387).
Before acting on any information, you should seek professional advice and verify our interpretation/s before relying on the content or calculators within this website or on the videos, while also considering its appropriateness in relation to your personal situ
Todos los comentarios (21)
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In the 1990s I sold pensions on the strenght that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
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I decided to retire at 62, Iâm self funded and wanted to enjoy my nest egg while I was still of good health. So glad I did as my wife and I have travelled extensively over the last 10 years before health issues grounded us. Current inflation has eaten into our superannuation balance and it wonât be long before weâll need to apply for government pension.
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I retired at 57 3/4 and have been self funded ever since. Centrelink is not on my radar at all, but aging could cause a rethink. Keep up the great videos Chris. Cheers.
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I am American and Youtube recommended this video. My interests are wide and deep and I watch everything from every parts of the globe. Most shocking here is how young the average retirement ages in Australia. I would not had guessed that.
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Plan to work to 55 (50 now), live off savings until i can get my super, use that until i can get the pension. For clarity i already own my house so only need money for food and bills.
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Would be helpful to post a video on retiring early (pre super), say 5 years before one can access Super . What are the best options to sustain yourself for those 5 years before you can tap into your Super fund?
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I retired on my defined benefit, company pension 4 years ago at age 55. I should be paying over $11K tax per year but we mitigate that by transferring $27.5K from my wife's SRP super to mine. Luckily she is 8 years older than me so our planets aligned to do this. Our company pension allows us to do this after 50 years of age. We both retired at the beginning of covid after a combined 52 years service. I urge people to seek advice if you're in a similar situation. Bring on tax free 60 in 11 months.
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I think people should be encouraged to semi retire first. Find a part time job you enjoy and ease yourself into it. Don't go from full time to nought work-wise if you can avoid it. It's much gentler and you can work more or less as required if you get a casual job as well. It's a much nicer way than a full stop...
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I came across your channel through this videoâcase studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
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Retire as soon as you can after 60 I know many people that have gotten cancer late 50s early 60s the pension in Australia is a lousy 450 dollars a week not long the pricks will put the pension agreement to 70 why because they don't want you to get the pension for long they actually want us dead once we can get there Free 450 dollars a week Australia is no longer the lucky country look at how many Aussies live in tents and cars while new arrivals live in house's đź
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Im 63 . sometimes I work, mostly I dont. Im healthy, happy and busy. Not sure what retirement actually is but I know a few people who declared themselves retired and died within a few years.
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When do I plan on retiring ? There is a new class of worker called "Die-at-your-desker" That's pretty much me.
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Always planned to semi retire at 42 (Iâm 38 now). I want to keep working small hours as I think itâs good to have some structure of working a few hours a week for physical and mental health.
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My wife and I plan to retire early because we have no kids and donât feel compelled to leave any legacy. Over the past few years our jobs have become much more flexible though which has tempted us to work longer and weâre comfortable with that because we feel we have a good work life balance.
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Retirement is just like anything else that you work hard to achieve. You need to plan for it. Building up your superannuation to allow for a good retirement is achievable for many. Put in the hard work and youâll reap the rewards.
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We retired at 58, great decision!
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When youâre employerâs slap a mandated experimental medical procedure on you
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Hope to retire before I die
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You can retire at any age. Just depends on your finances
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Iâm 52 now and only working 15 hours per week. I would love to retire early also as Iâm sick of my job after nearly 10 years there but Iâm afraid that I do not have enough in my super in which I canât touch until Iâm 60 anyway! And Iâm certainly not wealthy at all so I donât see me realistically retiring until Iâm 60 or after. Work sucks but I need the bucks.
