How do I plan to retire at 60?

Oct 07, 2021

Assess your retirement goals: the age you want to retire, the things you want to do in retirement, the expenses you need to accommodate in order to live comfortably.
Understand how much money you need to fund your expenses if you are planning to retire at 60 and expect to live to about 85 years (average life expectancy in Australia).
Understand if you will be eligible for the Age Pension and at what age.
Calculate how much income you can generate from your existing assets and investments, and how this will last throughout your retirement.
Understand any top-up strategies that might be required and what they will be (such as reverse mortgage or downsizing) to free up cash.
Manage your income and expenses carefully, to ensure you maintain your budget.

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