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! 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?
This is the question that not many get right! Life expectancy continues to rise for both men and women, especially for those who stay active and healthy. Unless you have a family history of people living longer than average, you probably underestimate how long retirement will actually be!
For Australians entering retirement now or soon, it could span two or three decades, which is exciting! To make sure that you live the retirement lifestyle you want (for longer than you probably expect), it’s important to keep this in mind when preparing for how long your income needs to support you.
To feel secure and confident in this new chapter, it’s worth reviewing insurance, estate planning, and investments so that they still suit your needs. Small adjustments can help reduce risk and improve cash flow so that you’re ready for the good times ahead.
Understanding your income in retirement
For many people, finally stopping work is an amazing opportunity to have more time for the things that matter. Not everyone feels this way initially though. It can be a bit of a shock and change of pace once you remove the routines and friendships that work provides. Community is a valuable part of this stage of life, so transitioning into retirement while continuing part-time or casual work can be a helpful way to maintain routine, and make savings last longer.
Regardless, it’s 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.
Make your super work for you
Superannuation plays a central role in retirement income, but it does not automatically change when you stop working. In a previous article, I spoke about the urgent check that retirees need to make for their super, after data from the Super Members Council showed that 700,000 Australians over 65 are still paying 15% tax on their super investment earnings when those earnings could be tax free!
This just goes to show how one easily missed step, in this case, not telling your super fund that you’ve switched to the “pension phase” from the “accumulation phase” when you’ve stopped working, can mean you end up paying more than you need to.
I recently worked with a couple* in their mid 70s who had this issue! 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.**
In most cases, it’s best to make sure your super is in a low-risk position as you enter retirement to avoid any surprises. Now is the time to reap the rewards and move forward with certainty around your finances.
Turn complexity into clarity
Every plan for retirement looks different, so your plan should be unique to get the most out of this stage of life. The challenge is that retirement finances can feel complex, with super rules, pension thresholds, tax considerations and investment decisions all changing at once. Clarity comes from breaking things down and focusing on what actually matters to you.
A good place to start is by getting a clear picture of your numbers. Understanding how much you spend now, how that may change over time, and how long your savings need to last gives you a solid foundation for decision-making. This includes mapping out essential expenses, lifestyle spending, and future costs such as healthcare or aged care.
Clarity also comes from having a plan that is reviewed regularly. Retirement is not a set and forget phase, as your priorities may change and evolve. Checking in on your strategy and making small adjustments along the way can help ensure your finances continue to support the life you want to live, without unnecessary stress or uncertainty.
Need a helping hand?
You do not need to navigate retirement decisions alone. Trusted guidance can help you understand your options, plan for the long term, and move forward with the confidence you deserve.
It all starts with a single conversation. Get in contact with us below and take the step towards the retirement structure perfect for you.
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).