Planning for retirement: when can you actually call it a day?

Retirement isn’t just about stopping work. It’s about making sure you have enough money to live the life you want, without the stress of running out too soon.

At Precision Wealth Management, we’re not here to sell products, we’re here to help you retire with confidence. We take a strategic, evidence-based approach to financial planning, so you don’t have to guess your way through retirement. Let’s break down the big questions.

When can you retire?

The short answer is whenever you want. But, the longer answer is only if you can afford it.

You can retire at any age, but here’s the reality:

• The Age Pension won’t kick in until 67, and even then, it’s means-tested—so if you’ve got significant assets, you might not qualify.
• You can access your super from 60, but you’ll need enough to last 20 to 30 years.
• It all comes down to cash flow—you need enough income from your super, investments, and pension to cover your lifestyle.

How much super do you need?

The Association of Superannuation Funds of Australia (ASFA) suggests:

• $595,000 for a single retiree
• $690,000 for a couple

These numbers are a good starting point, but the reality is different for everyone. Some of our clients need much more to live the lifestyle they want, while others can comfortably retire on less. The key is having a plan that matches your goals and spending habits.

Will you get the age pension?

That depends on your assets and income. As of now, the maximum Age Pension per fortnight is:

• Single: $1,144.40
• Couple (combined): $1,725.20

If you own property or have investments, your pension may be reduced or cut off entirely. But with the right financial structuring, you may be able to maximise your entitlements.

How to make the most of your super and pension

• Super re-contribution strategy – if you have a younger spouse, shifting assets into their super can reduce your assessable assets and increase your Age Pension.
• Gifting – you can gift up to $10,000 per year (or $30,000 over five years) before Centrelink considers it an asset.
• Structuring your investments – the way your assets are set up can impact your tax and pension entitlements. Small tweaks can make a big difference.

Retirement advice: here’s the problem most people face…

Many people assume they’ll just figure it out when the time comes. Then, when they’re finally ready to stop working, they realise they haven’t structured things properly.

That’s where we come in. At Precision Wealth Management, we help you get clear on your numbers, structure your assets effectively, and create a plan that actually works. No product pushing—just straight-talking, strategic financial advice tailored to you.

Want to retire with confidence? Book a chat with us today.

DISCLAIMER – The information provided in this blog is general and does not consider your individual financial needs or objectives. It does not constitute personal advice. We recommend seeking out professional and independent financial, legal and tax advice which has been designed for your individual situation before acting on any information contained below.