Stephanie and her sister have vastly different financial situations and they’ve just inherited a unit from their grandmother.
After decades of growing your super, it can call for a very different mindset to start drawing down the money in retirement. But thinking about how to make the most of your nest egg is critical to this new life stage.
Still renting at 61, Alison has been advised to buy a home before she reaches retirement age in order to qualify for the pension.
Darryl is worried that war injuries from his time in the army will force him out of work in the next eight years, and he doesn’t want to make mistakes with his money.
Retirees who plan to draw on the equity in their home for a reverse mortgage need to run the numbers first, warns Effie Zahos.
If it’s all about spicing up your retirement, leaving Australia may not be the best way to do it.
The government’s message with the Pension Loan Scheme is clear: consume more of your assets (including your house) in retirement and leave less for the kids.
The coalition has used its generous baby boomer and pensioner package within the Federal Budget to hit back at what it regards as Labor policies designed to “attack retirees”.