Today is a big day for us – we’ve officially talked to over 10,000 people about their retirement!
Woohoo!
Okay enough celebrating, back to work helping you secure a better future. But to commemorate this achievement, we wanted to share the 6 most common goals people have for their retirement. (well actually 5, but then we wanted to throw in a bonus one from us!)
As always, we aren’t financial advisers and we don’t give financial advice. We help you with one thing – reviewing your super. So let’s start 🙂
Be Financially Free
This is obviously the most important goal for everyone. Nobody wants to retire without the means to support themselves and their family.
Unfortunately that data isn’t great.
According to 2016-2019 data from the ABS, “the government pension remained the main source of income for most retirees.”
Support Family
If the worst were to happen, I’d like to ensure that my family are provided for. This is a close second for everyone we’ve spoken with.
For this, people ask about two main things.
- See above – if you are financially free in retirement you are probably including your family in that calculation!
- Beneficiaries and insurance – ensuring your family members are listed as your proper beneficiaries and that any insurances are aligned to be able to support them should the worst happen is a key goal for many.
Pay Off Debts
This is a big one we hear about for those nearing retirement and who still owe a mortgage.
Purchasing a home is often the single largest investment a person or family will make. This is a debt we are happy to take on, but if that exists in retirement it feels a bit different.
Being able to pay off that debt prior to retirement, or being able to cover that debt through proper insurances, is a major goal for many.
Travel
Who doesn’t want to travel!
Retirement should be a time for new beginnings and travel is a great way to do just that. Some express a desire to travel abroad but more often than not we hear about those just wishing to explore all of Australia. Some are even so specific that they want nothing more than to have a campervan and go from beach to beach.
seniors.com.au has put together a list of some of the best destinations.
Why not hit them all?
Spend Time With Family
Work takes us away from family. So in retirement we have the chance to readjust those scales.
Most of us work to provide a good life for ourselves and our family. Our time in retirement can and should be a celebration of that work. And the way to celebrate is by spending your time with those you’ve given so much to and who have given so much to you.
Stay Active! (bonus goal)
Don’t forget to stay active!
Retirement is the opportunity for a new chapter. This is the correct and positive outlook to take.
And in that spirit, there is nothing more fulfilling, healthy, and enjoyable than staying active.
activeaging.org.au suggests things like art, games, hiking, clubs, and groups. But our personal recommendation is sport – especially tennis. Tennis is great for people of any age, any physical fitness level, and any experience at the sport. Grab a racquet and move! Your body and mind will thank you for it.