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Retirement-ready checklist

Your guide to a rewarding retirement

At Sunlit Path, we know that retirement is more than just a superannuation balance. We encourage our clients to think about many aspects of their life – not just financials – to ensure they shine in retirement.

Our Path to Prosperity approach covers five areas (the 5 Ps) that we’ve learned are key to retired bliss. Use this checklist to see if your own Path to Prosperity is looking bright or could benefit from a helping hand.

Plenty: Ensure you have enough to live comfortably in retirement

1. How much do I have? Take stock of your retirement savings.

Tip: Check MyGov to see your super accounts and any lost super in one place. Reviewing these can also help highlight where duplicate fees or insurance costs might be impacting your balance.

2. How much do I need? Depending on whether you’re aiming for a modest or comfortable lifestyle in retirement, the average couple needs $51,000 to $77,000/year, while singles need $36,000 to $55,000/year. Remember, this is a rough estimate and doesn’t factor in your individual circumstances.

Tip: Simply put your age into ASFA’s Super Detective tool to get a rough idea of how much super you need today.

Play: Get excited! Think about the fun you want to have

1. What do I want to do? Identify your 'big bucket list' travel and physical goals.

2. When do I want to do it? Make sure you don’t miss your window! Consider scheduling that big trip or high energy pursuits early in retirement, and sprinkling gentle movement that brings you joy throughout your golden years.

People: Prepare to surround yourself with people you love

1. Who is important to me? What family members and friends do you want to be close to? Initiate conversations with them about your individual retirement ‘day-in-the-life’ visions to ensure your lifestyle expectations match.

2. How could I branch out? Think about what you enjoy. Map out related social groups, clubs or volunteer opportunities in your community that could fill the social gap left when you move away from work.

Passion: Find what ignites your fire

1. What do I really love to do? Reflect on the activities that make you lose track of time. Pinpointing these interests provides a foundation for a sense of purpose beyond work.

2. What did I really love to do? Explore past hobbies or talents you set aside for your career or family life. Re-engaging with these can provide significant mental and social rewards.

Place: Consider where you live

1. Is my home a source of joy or burden? Audit your current residence by asking yourself some tough questions:

Will my home be practical as my mobility changes?
Do I feel comfortable ‘locking and leaving’ it to travel or go on holiday?
Is my home situated close to my ‘life’ (e.g. family, friends, services, leisure pursuits)?
Is maintenance manageable?

If you answered ‘no’ to any of these questions, consider if you could change this or if there might be a better fit elsewhere.

If you’d like to discuss this in more detail, and find out how we can help you craft your dream retirement, book a free consultation today.

Book your free initial call now

If you’d like to discuss this in more detail, and find out how we can help you craft your dream retirement, book a free consultation today by calling 07 5327 3495 (or using the booking link on the website).

General Advice Warning: The information in this website and the links has been prepared for general information purposes only and does not take into account your personal objectives, financial situation or needs. It is not intended to provide commercial, financial, investment, accounting, tax or legal advice. You should, before you make any decision regarding any information, strategies, or products mentioned in this website, consult a professional financial adviser to consider whether it is suitable and appropriate for you and your personal needs and circumstances. Before making a decision to acquire a financial product, you should obtain and read the Product Disclosure Statement (PDS) relating to that product, together with the Target Market Determination (TMD).

Sunlit Path is a Corporate Authorised Representative (No. 001320149) and Simon Thomas Pederson is an Authorised Representative (No. 000341008) of Spark Advisors Australia Pty Ltd ABN 34 122 486 935 AFSL 380552.