SMSF Advice Hub

Login

Join

All The Self-Managed Superannuation Advice You’ll Ever Need

  • Home
  • About
  • News
  • Resources
    • How To Set Up an SMSF
      • [Member] Better ways to setup your fund
    • Contributions
      • Employer Contributions
      • Member Contributions
      • Contribution Limits (Caps) & Excess Contributions Tax
    • Taxation on SMSFs
      • Contributions Tax
      • Tax on Income (0%, 10% or 15%)
    • Benefits – getting your money
      • Preservation – “Hands Off!”
      • Lump sum withdrawals
      • Income Streams (Account based pensions)
  • Ask A Question
  • Members
    • Join
  • Contact

Key Points about Retirement Income that You Should Know

By: Alan Preston   •   22 May, 2015

retirement savingsWill my money outlast my working years? This is a question bothering many of us. The dilemma forms a core of our society; the inherent fear that we may have to live on nearly nothing once we are retired. There is good reason to assume so and the precarious footing on which Baby Boomers find themselves today only strengthens the argument.

Retirement planning

Of course, things may not pan badly at all if only we are a little circumspect in planning our retirement. If we pay heed to the fact that retirement, after all, is an inevitable result of working all our lives and the day, however far it may seem, will arrive for sure.

Are we paying heed to the retirement budget?

When we save, we either go too fast or too slow. While ‘slow’ can hurt’, with ‘fast’ the problem is that the steam may run out. Ideally, while saving, we should always concentrate on a monthly retirement budget. Won’t we be more confident about our bearings if we knew what the amount we are saving may translate into on a later day when we retire?

Country’s economy over 3 decades

The phase of retirement does not arrive in the second year of our working lives. It comes after we have put in 30 years or more. This means that we are talking about the economic conditions of a country for something like 3 decades. So it is not hard to fathom that your retirement plan may be hit hard by economic volatility, tax implications, inflation and global cues. So, when you plan for the big years ahead, always budget for these difficulties. These are like the occupational hazards you cannot shy away from.

Are bonds a good investment?

It is not a bad idea to depend on your bonds but going the ‘bond’ way solely may hurt. There is a misconception that bonds cannot make losses. Newsflash- they can! So depending upon the interest rate and the period of holding, you may fetch less than what you had anticipated once you retire and this can hit your retirement plan hard.

Humans are always apprehensive about what they have to face for the first time. Retirement is one such event in life. But there is a smart amount of case study on it which says that people can run smoothly and beautifully through their retirement years if they give enough consideration to the planning bit.

Related Posts

Few SMSF Trustees are Confident with their Retirement Fund
Few SMSF Trustees are Confident with their Retirement Fund
Planning Your Life Ahead before Retirement
Planning Your Life Ahead before Retirement
What Hinders Effective Retirement Planning
What Hinders Effective Retirement Planning
How Much Money Should You Have on Your Retirement Fund?
How Much Money Should You Have on Your Retirement Fund?

Ask Our SMSF Experts

  • ask our SMSF experts
  • This field is for validation purposes and should be left unchanged.

Most Popular Posts

  • Retiring Overseas: How $A 1,800 Can Buy You A Life Of Luxury
  • Centrelink Reverse Mortgage Scheme: As Puzzling As Egyptian Hieroglyphs
  • smsf advice hub blue chip shares Why SMSF Investors Should Fall In Love With Blue-Chip Shares
  • managing SMSF Busting The Myth: Managing SMSF is Time-Consuming
  • smsf advice hub super guarantee compliance Ensure Your Super Guarantee Payments Are Compliant

Topics

insurance investing your money managing a super fund properties retirement funding retirement planning self-managed super fund compliance SMSF borrowing SMSF news super contributions super fund benefits super fund rules Super investment tax savings

SMSF Advice Newsletter

Receive the latest super fund news as it happens and stay up to date with your SMSF

Copyright © 2025 by SMSF Advice Hub. All Rights Reserved.

  • Privacy Policy
  • Terms and Conditions

Connect with us on