What is retirement income? During your working life you receive regular income in the form of a salary or business income. In retirement, this regular income stops, so you need to draw on your savings to meet your lifestyle costs. You set up your savings so you still receive regular payments, just like a salary. […]
What is a budget? A budget is a plan that works out how you will manage your income and expenses. Maintaining a budget is a powerful way to control your money. Do you need a budget? A budget allows you to see how much money is coming in and going out. It helps you ensure […]
What is transition to retirement? Transition to retirement is a strategy that can help you reduce your working hours while maintaining the same level of income. This is achieved by drawing a pension from superannuation using the ‘transition to retirement’ condition of release. Everyone who is preservation age (currently 55) but less than 65 years […]