Planning with Confidence for Retirement
After the spending season of December and January, early in the year is often a natural time to reflect and make sure that your finances continue to support the lifestyle you enjoy on and off the green. If retirement is just around the corner or already underway, having the freedom and confidence to live your life the way you want starts with clarity.
How long will retirement last?
Australians are living longer, and retirement can easily span two or three decades. Many people underestimate this, unless longevity runs in their family. With life expectancy continuing to rise, especially for those who stay active, understanding how long your income needs to support you is one of the most important steps in feeling well‑positioned financially.
As priorities change, it is worth reviewing insurance, estate planning, and investment settings to ensure they still suit your needs. Small adjustments can help reduce risk and improve cash flow so that you can make the most out of your retirement.
Understanding your income in retirement
For some people, transitioning into retirement while continuing part time or casual work can be a helpful way to maintain routine and make savings last longer. It is also important to understand where your income will come from, including superannuation, investments, and whether the Age Pension may play a role.
If you are eligible for the Age Pension, you may still be able to earn some income without affecting your payments, up to certain limits. The Work Bonus can also allow you to earn additional income without reducing your pension, with any unused amount carrying over if you take a break and return to work later.
Making sure your super is working for you
Superannuation plays a central role in retirement income, but it does not automatically change when you stop working. Recent data from the Super Members Council shows that around 700,000 Australians over 65 are still paying 15% tax on their super investment earnings, when those earnings could be tax free! This is simply because those people haven’t moved their super into the “pension phase” from the “accumulation phase” when they’ve stopped working.
I recently worked with a couple* in their mid 70s who were finalising their retirement plans. While one partner had moved their super into the pension phase, the other had remained in the accumulation phase for several years after becoming eligible. A simple change could have reduced their tax by around $6,000 each year, which is why planning as early as you can puts you in the best position.**
A more complex retirement transition
I also recently worked with Linda*, who in her late 60s, had spent her working life building wealth through property and reached a position many people aspire to. She was ready to retire and move overseas, selling both her family home and an investment property to fund her next chapter.
Like many retirees, the situation was more complex than it first appeared. The property sales occurred across different financial years, raising questions about tax. Her assets were spread across superannuation and cash, and she was also concerned about how much tax her beneficiaries might face in the future.
We reviewed Linda’s entire position, including her super balances, contribution history, tax components and estate planning objectives. Timing was critical, with one sale taking place close to the end of the financial year.
By restructuring contributions and carefully timing transactions, we were able to reduce tax, improve how her assets were structured, and convert her super into stable retirement income. As a result, Linda now has confidence that her finances are supporting her lifestyle overseas, while also protecting the value of her estate for her loved ones.**
Need a helping hand?
You do not need to navigate retirement decisions alone. Personal advice can help you understand your options, plan for the long term, and move forward with the confidence you deserve.
White Rabbit Advisory is proud to be the Official Financial Advisory Partner of Bowls Victoria, helping individuals and families build confidence with their finances. If you would like support or guidance, we’re here to help.
Disclaimers
* The names and identifying details in this article have been changed to protect confidentiality. However, the events and scenarios described are based on real experiences.
** The advice, strategies, and figures presented in the case studies above are specific to the client’s individual circumstances and objectives. They are provided for illustrative purposes only and should not be relied upon as guidance for your own situation. Before making any financial or strategic decisions, you should seek professional advice tailored to your personal circumstances.
White Rabbit Advisory Pty Ltd is a registered tax (financial) adviser and any reference to tax advice contained in this document is incidental to the general financial advice it may contain. You should seek specialist advice from a tax professional to confirm the impact of this advice on your overall tax position. You should obtain financial advice relevant to your circumstances before making financial decisions. Whilst every care has been taken in the preparation of this information, it may not remain current after the date of publication and White Rabbit Advisory Pty Ltd and its related bodies make no representation as to its accuracy or completeness.
Published: January 2026 © Copyright 2026
White Rabbit Advisory Pty Ltd (ABN 54 676 177 138) is a Corporate Authorised Representative (No. 1314020) of Personal Financial Services Ltd (ABN 26 098 725 145). Australian Financial Services Licence (No 234459).
