IT’S TIME TO RETIRE

Ahhhh …. retirement. Surely, it’s what we’re all waiting for. Sleep-ins, hanging with friends at the club, volunteering, travelling, hobbies and maybe even a sea-change or two.

If you really want to enjoy your retirement you have to start planning at around age 55. There’s no easy way to put this — it’s going to require research, knowledge, strategy and a dash of rat-cunning.

YOUR MONEY

So you want to swan about in the manner to which you are accustomed — without having a job? Go see an independent financial advisor. Honestly, a good financial advisor is going to be a godsend in that foul abyss of tax, superannuation and investments.

Be wary of children with early inheritance tendencies. Let them believe you are very, very poor.

Don’t rely on the pension. Eligible people need to be 65.5 before they can apply for the old age pension and that age will rise to 67 in 2023 and 70 by 2035.

YOUR HEALTH

Have as many treatments and procedures while you are still earning and while you are deemed young enough to make a good recovery. Prevention is the key here and the more health issues you prevent, the better. Oh, and for goodness sakes, stop smoking. Cut back on alcohol and soft drinks and stick to a healthy weight range. Sorry — but retirement is not the time to be self-indulgent. And you were so looking forward to it too weren’t you.

YOUR HOME

Your home is your most important tax-free investment. So where do you want to live? Do you want to hang on to the family home at all costs, scuffling through all those empty rooms? Or maybe you’d like to downsize to a different location altogether? Run-away from home altogether? There are many decisions to make and only you know what is right for you.

ESSENTIAL LEGAL THINGS

Make a will. Just do it.