In the years leading up to retirement, your focus will probably shift away from the day-to- day financial matters, such as paying off the mortgage, to thinking about your retirement. How much money will you need? Have you been contributing enough to super and how can you increase your super balance to fund a comfortable retirement?
It’s important to consider that your retirement may last a long time. Increases in life expectancy means you may live for 20 or even 30 years after you retire around age 65. Careful planning before you retire can make a big difference to your superannuation balance, making it last longer and giving you peace of mind that your hard earned wealth is protected.