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.
Last financial year's superannuation statements are hitting your mailboxes over the past week.
You must check that your details are correct. The following is the type of information you should be checking:
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.
ASFA (Association of Superannuation Funds of Australia) distinguishes between two retirement lifestyle standards:
To “Retire Comfortably” is more than just a dream; it means being able to maintain a good standard of living. Key components include:
Australian retirees increasingly report financial insecurity as a reason for returning to work or delaying retirement. The biggest financial mistakes retirees make are key drivers, including rising living costs, inadequate savings, unexpected expenses, misunderstanding of retirement entitlements, and unsound investment or spending decisions. (The Guardian)
Retiring early is an appealing idea: more time for travel, hobbies, family, and personal fulfilment. But there’s a price. More years off work mean more expenses, more risk, and greater demands on your savings, which raises the question: How long will my money last when I retire? In Australia, with rising life expectancy, increasing cost of living, and a changing superannuation and Age Pension environment, planning for early retirement requires careful, data-informed calculations.
This article explains the effect of extra years in retirement, what research shows about returning to work, and gives a straightforward method to calculate how much you’ll need if you choose to retire before traditional ages.
Thus “early retirement” might mean retiring at, say, age 55, or even earlier, depending on one's expectation and health, housing status, lifestyle etc.
Age pension still exists to help those who need it, but the retirement planning professionals in our Perth office are dedicated to helping you secure a future in which you don’t have to rely on age pension.
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The earlier one begins investing, the more money then can amass for their future. Sound investments make money due to the principle of compound interest. Compound interest is what happens when you reinvest interest that you made in previous years and make interest on your past interest.
As anyone who is paying attention to their home or auto loan knows, compound interest can add up to a lot of money. AMP Capital uses a simple example. If you make 15% interest on $1,000 in one year and reinvest it, the next year you are making interest on $1,150.*
