Retirement income options

Reaching retirement is a huge achievement! You’ve worked hard and now it’s time to do those things you’ve always dreamed of.

Retirement income usually comes from the age pension, your superannuation or other investments such as property income or shares. Before retiring it’s important to understand the source of your retirement income and the level of funds you will receive.

With life expectations increasing, retirement savings have to last longer and it’s also important to ensure that you can afford the lifestyle you want in retirement.

Age pension

We can help you assess whether you will be eligible for the age pension. To be eligible you must have reached aged pension age (which is set by the Government and depends on when you were born) but there’s also an asset and income test too.

Retirement income from superannuation

Before you retire, we can help you decide how to receive your retirement savings to help you make the most of your money and keep it working hard for you. When you reach retirement, the way that you structure your finances can have a big impact on the income you receive and how long your retirement savings last. For example, whether you take a one-off payment or receive an ongoing income.

There are a number of options available to retirees including:

Retirement income from other sources

You may have other retirement income options such as shares or property outside of super which can help you boost your retirement income. Or you may decide to transition to retirement or take up a part-time job.

Income from these sources could affect your eligibility for the age pension. A Bridgeport financial adviser can help you assess your eligibility and help you to maximise your entitlements.

Important note: In the recent Federal Budget, the Government proposed to make a number of changes to the rules around superannuation, therefore, it is important to consult with your Bridgeport financial adviser who can help you decide which retirement income solution is appropriate for you.

A Bridgeport financial adviser can help you choose the retirement strategy to suit your needs.