You are currently:

Article

Life 12 months on from retirement

posted on 17.09.2024

This year, we thought we would revisit Jan, to see how life was 12 months on from retirement, see how she has adjusted, how or if life had changed, and whether the plans she made are panning out.

Life has really changed

They certainly have. When we spoke with Jan last, she was just beginning to get used to the lack of structure in her day. Now that there wasn’t the regimen of work, she was wondering how she would fill her time productively.

‘Well, the truth is I really don’t know how I found the time to work before (a little tongue in cheek, I think). I have so much going on in my life! I have joined the throngs of “busy” retirees – my diary is full of appointments – some social, some fitness-related, some health-related and some dedicated to my elderly mother.

‘I try to keep a balance because if I don’t look after my mental and physical health, I won’t be there for the loved ones who need me. ‘I have a large house to maintain, which has got me thinking about downsizing. That would be a nice boost to my super too – however, I love my neighbourhood, so I’ll stay here for a few more years yet if I can manage.'

What about travel?

‘Travel has always been on my agenda, but as I said last year, it can be very expensive and a bit daunting as a single person. This year, I had a short trip over to New Zealand, then on to Rarotonga for a wonderful “girls’ trip” with seven female friends before returning via New Zealand. Having an elderly mother in Australia meant I couldn’t go away for too long.

‘Since my last interview with the REI Bulletin, I have re-partnered with someone I have known for many years. It is something I thought may not happen in my future – we are both retired and at the perfect stage in our lives to enjoy each other’s company. We had a trip interstate together recently and had a wonderful time. I can certainly see more travel in our future.

What’s next for Jan?

‘I am mindful that there are a lot of people doing it tough in Australia – people of all ages and all levels of society. People are pulling back on their spending and that is evident around my local region. The streets and restaurants don’t appear to be as busy as they once were – a lovely restaurant in my suburb has just closed its doors due to skyrocketing rent and overheads. 

‘With that in mind, I am looking to do some volunteer work with disadvantaged people, so I can contribute to my community in some small way.’

Any tips for others looking to retire?

‘Yes, definitely. Prepare early, have a plan for what you want to do in retirement. Life sometimes throws some curveballs, so you have to be flexible. Don’t wait till the day you finish up to start planning, as you may end up floundering. 

‘Get professional advice with REI Super, and it is very reassuring to know that you have explored the options and possibilities available to you now and into the future. I recently checked in again with Nick Phillips on a couple of things, investments and strategies should be reviewed periodically."

‘I like to go online to my REI Super portal every now and then to see how my investments are performing. I‘m happy to say this has been a very good year, as I have managed to do everything I wanted on my regular super pension without taking any extra, and maintained my principle investment in the process. ‘Happy days!’

 

To book an appointment with one of our Financial Planners, call 1300 13 44 33, or request a callback by filling out our online form.

...........................................................................................................................................................

Jan is a member of REI Super and is not authorised to provide advice on superannuation.

 

The information contained in this article does not constitute financial product advice. However, to the extent that the information may be considered to be general financial product advice, REI Super advises that REI Super has not considered any individual person’s objectives, financial situation or particular needs. Individuals need to consider whether the advice is appropriate in light of their goals, objectives and current situation. Members should obtain and read REI Super's Product Disclosure Statement and Target Market Determination before making any decisions. REI Superannuation Fund Pty Ltd ABN 68 056 044 770 AFSL 240569. RSE L 0000314 REI Super ABN 76 641 658 449 RSE R1000412 MySuper unique identifier 76641658449129. September 2024.

 

Tags:
Member profiles