Retirement Planning

Why These Financial Risks Matter Together

• Retirees often don’t have as much time to recover from adverse investment or regulatory changes as younger people.
  
• Inflation and increasing costs, especially for aged care and health, amplify other risks.
  
• Longevity means even modest under-planning could leave someone with inadequate resources in later years.
  
• Regulatory changes can shift cost burdens or benefits unexpectedly.

Retirement is often imagined as a time when many expenses fall away: no commuting, children grown, fewer professional clothes, maybe paid work is reduced or stops. In many cases, that’s true. However, other expenses for retirees remain high—or even increase—especially in areas such as health, aged care, and the cost of living more generally. As retirees enter their 80s and 90s, these costs can shift sharply, making planning vital. One of the biggest concerns is the overall expense for retirees.

Here are key expenses for retirees, categorised by type, what tends to happen to them over time, relevant data, and some practical tips for managing them.

You are entering the next chapter of your life and retiring, and you're asking yourself the question, what is a good monthly retirement income? It’s your goal to ensure that you can live comfortably and sustain the lifestyle you desire. Many factors may affect it, but your primary concern is securing a reliable monthly retirement income. Answering this question requires careful planning and research, but it is well worth it so that you can enjoy a relaxed and secure retirement. In this article, we will discuss what we consider a suitable monthly retirement income.

What are the benefits of working with a Financial Advisor? When people hear the term Financial Planner, they often think of someone who helps with investing or retirement. While that's certainly part of the picture, a financial planner's role is much broader, and often far more valuable than many realise. Whether you're just starting your financial journey or you're looking to maximise and protect your wealth, some of the key benefits of a financial planner are having clarity, direction, and peace of mind.

In this article, we will break down what a financial planner actually does, and how working with one could be one of the smartest financial decisions you make.

If you're asking yourself the question, how much do I need to retire in Australia, then this article is for you. I want you to know that taking proactive steps will help you rest assured that you can afford a comfortable retirement. It is beneficial to weigh the amount you need to retire comfortably against your expectations for the retirement lifestyle you have always dreamed of. This article will discuss how much you need to retire in Australia and outline the steps you should take for effective retirement planning. To successfully retire in Australia, understanding your financial requirements is crucial.

Western Australia's economy in 2025 is shifting from a period of rapid expansion—driven by robust local investment, mining sector growth, and favorable export conditions—into a stage of steadier, more moderate growth. If current trends hold, Gross State Product in 2026 is expected to increase by roughly 2.3% to 2.7%. As we analyze Western Australia's economy in 2025, it becomes clear that strategic planning is essential.

• Western Australia's economy in 2025 is holding up relatively well in 2025, though growth is moderating from earlier highs.
• In evaluating Western Australia's economy in 2025, the important sectors show resilience despite global challenges.
• Key strengths remain its resources sector (iron ore, LNG, other minerals), strong labour markets, population growth, and housing demand.
• Risks include global demand (especially China), commodity price pressures, inflation and interest rate dynamics, and energy supply constraints.
• For 2026, growth is expected to be more modest but still positive, particularly if key infrastructure projects (notably in energy, gas, and mining) start delivering, and if inflation continues to ease, allowing interest rates to fall.

ASFA (Association of Superannuation Funds of Australia) distinguishes between two retirement lifestyle standards:

• Modest: Covers basics and some small “extras”, but limited expenditure on discretionary things.
• Comfortable: As above, plus more discretionary spending, private health cover, more regular travel, and greater flexibility. (ASFA)

To “Retire Comfortably” is more than just a dream; it means being able to maintain a good standard of living. Key components include:

• Owning (or having paid off) your home, or at least having low housing costs.
• Good daily living expenses: food, utilities, transport, clothing.
• Private health insurance, or good access to healthcare without financial stress.
• Leisure & social activities: travelling (domestic or occasional overseas), hobbies, entertainment.
• Having a budget helps you retire comfortably.
• Comfortable durable goods: car, electronics, good furniture, and maintaining the home.
• Some buffer for unexpected events (e.g. health issues, home repairs).