Live the life you want in retirement
A well-considered plan can help you enter retirement with confidence, reduce financial stress and give yourself the best chance of living the lifestyle you want. Ensure you revisit and adjust your plan throughout retirement, as your needs and priorities change. To set yourself up to thrive, think about the following lifestyle, health and accommodation considerations.
Lifestyle
Consider how your lifestyle and routines will change once you retire. Putting measures in place to sustain your independence and stay connected can help improve your quality of life in retirement.
- How will you get around?
There will likely come a time when you can no longer drive, it’s a normal part of ageing. Before getting to that stage, think about other transport options. - What will you spend your time doing?
You might want to start a new hobby such as hiking, volunteering or gardening to energise your body and mind. Hobbies can also help you build relationships with other like-minded people. - Who will you spend your time with?
Retiring can mean fewer social interactions once you leave work. Staying connected with other people is an important part of staying mentally and emotionally healthy.
Retirement lifestyle checklist
Our retirement lifestyle checklist can help you identify your needs and priorities
Health
Though ageing impacts your health and wellbeing, positive lifestyle choices can make a real difference. There are steps you can take today to improve your quality of life tomorrow. Simple habits like:
- Being intentional about what you eat
Fuelling your body with nutritious food can reduce your risk of experiencing health issues. - Regular exercise
Physical activity is essential for healthy ageing, including helping improve your mobility and muscle mass in later years. - Check-ins with your doctor
Stay on top of your health with periodic medical tests to prevent and catch any issues early on. - A good night’s sleep
Good quality sleep can potentially help reduce the risk of age-related health concerns.
Accommodation
Your living arrangements can also change in retirement, especially as you grow older and may need some support. Here are several options to consider ahead of time:
Ageing at home
If you choose to continue living in your own home, there is likely to come a time when you will need to consider additional support so you can continue to live your best life in dignity and independence. It’s hard to predict what will happen as you age but knowing the available short-term support options can help you manage better.
Retirement village living
Some people prefer to stay independent while still being surrounded by others. Retirement villages offer a built-in community with social activities and events. There are many options to choose from – consider the inclusions, amenities, and costs to decide what will work for you.
Aged care
The government subsidises three main types of aged care services:
- Home support
This includes help with housework, meals, transport, and shopping so you can remain independent at home. - Home care packages
More comprehensive care coordinated by an approved provider to support you with needs beyond everyday tasks. - Residential aged care
24/7 care and accommodation if you’re no longer able to live independently at home.
Navigating aged care
A guide to navigating the aged care system in Australia by Care & Living with Mercer.^
Care & Living with Mercer^
Ageing care support and advice for Mercer Super members and their loved ones. So you can focus on enjoying life.
Explore more: it’s your time to thrive
How do I turn my super into income?
Your super doesn’t stop working when you do. You could set it up to pay you a regular income, take it as a lump sum, or use a mix of both.
Estate planning
Estate planning is about more than just a Will. It’s about ensuring what you want to happen to your assets – including your super – happens, when you pass away.
Working in retirement
Retirement doesn't always mean you stop working completely. In fact, many Australians are working longer than ever before, some because they want to, others because they need to.
^ Care & Living with Mercer is a service provided by Care & Co Match Pty Ltd ABN 61 663 701 906. When accessing the service please read the Care & Co Match website Terms of Use which are available at mercersuper.careandcomatch.com.au.
Issued by Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of Mercer Super Trust ABN 19 905 422 981 (‘Mercer Super’).
Any advice provided is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any advice we recommend you obtain your own financial advice and consider the Product Disclosure Statement and Financial Services Guide available at mercersuper.com.au. The product’s Target Market Determination setting out the class of people for whom the product may be suitable can be found at mercersuper.com.au/tmd.
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