Checklist · Caloundra & the Sunshine Coast

AI chatbot retirement checklist for Caloundra and the Sunshine Coast

If you’ve used ChatGPT or another AI chatbot to plan your retirement, this checklist helps you check its answers against Australian rules, such as preservation age, Age Pension age and pension drawdowns, and against your own life, before you act on anything it suggested. We work with people in Caloundra, Mooloolaba and across the Sunshine Coast.

Book a 30-minute Fit Check with Simon

Not personal advice.

Simon Pederson, M.Fin, B.Bus (FP), Founder and Lead Retirement Planner, over 15 years helping people plan for retirement

Why check what an AI chatbot tells you about retirement?

Tools like ChatGPT, Claude and Gemini can help you brainstorm, organise your questions and think about lifestyle plans. But their answers can be wrong, out of date or based on overseas rules, such as US 401(k) accounts or the “4% rule”. A chatbot answer is research, not personal advice or a Statement of Advice. Moneysmart has a guide to using AI for money questions. [6] This checklist helps you check it against Australian rules and your own life before you act.

Simon lives in Caloundra. We work with people in Caloundra, Mooloolaba and across the Sunshine Coast.

“If I am not sure he will explain it in a way I understand.”
Kathy, Aug 2026Selected reviews. Individual experiences vary.

What are you holding: facts or recommendations?

1. Facts versus recommendations. Highlight facts, such as preservation age. Circle any product recommendations, drawdown percentages or “switch funds” instructions. Treat those as questions to ask, not actions to take.

2. Check every number. Chatbot answers can include wrong or out-of-date figures. Check tax rates, caps and rules against the ATO and Services Australia.

Plenty: does the income plan follow Australian rules?

1. Two different ages. Preservation age is 60 if you were born from 1 July 1964. [1] Generally, you can access super once you reach it and retire, or at 65. [2] Age Pension age is 67. [3]

2. Pension drawdowns. An account-based pension has a minimum yearly payment based on your age: for 2023–24 onwards, 4% under 65, 5% at 65 to 74, 6% at 75 to 79, and higher at older ages. [1]

3. Age Pension. Did the chatbot leave out the Age Pension, or assume you won’t get any? Your entitlement depends on the income and assets tests, so check it with Services Australia or an adviser.

4. Strip out overseas ideas. Cross out 401(k), Roth, IRA and other US concepts.

5. What you need. Compare the chatbot’s spending figures with what you actually spend. Read How much money do I actually need to retire?

Play: does the plan allow for your active years?

1. Spending isn’t flat. Some people spend more on travel and hobbies early in retirement. Check the plan doesn’t assume the same spending every year.

2. Balance enjoyment and longevity. Make sure the plan considers how long your money may need to last, and the effect of market falls early in retirement.

People: does it fit your household?

1. Your household. A chatbot can’t know if you and your partner have different timelines, health or spending plans. Make sure the plan reflects both of you.

2. Helping family. Note any plans to help children or grandchildren. Gifts can affect the Age Pension, so check the gifting rules with Services Australia before giving. [7]

Passion: what will fill your week?

1. What fills Tuesday after work? A spreadsheet can’t plan your days. Outline the volunteering, learning or community activities you’d enjoy. See our volunteer ready checklist.

2. Plan your routine. Retirement can last for decades. Think about how your plan supports the life you want, not just the numbers.

Place: does it reflect Sunshine Coast costs?

1. Local costs. National averages can miss local costs such as council rates, body corporate fees and travel to health services.

2. Moving or downsizing. Factor in selling and moving costs and stamp duty. If you’re 55 or older and have owned your home for 10 or more years, you may be able to make a downsizer contribution of up to $300,000 into super, generally within 90 days of receiving the proceeds. [4]

What should you check before moving any money?

1. Keep your details private. Don’t enter your tax file number, account numbers or identity details into public AI tools.

2. Check your adviser is registered. Search the Financial Advisers Register on Moneysmart.

3. Read the paperwork. If you get personal advice, read your Statement of Advice, the Product Disclosure Statements and Target Market Determinations before you sign.

Bring your AI notes to a 30-minute Fit Check with Simon by phone or video call. It’s general information, not personal advice. See all our retirement checklists, Pricing, Our engagement process and our Path to Prosperity approach.

Common questions about AI and retirement planning

Can I use ChatGPT or another AI chatbot to plan my retirement?

AI chatbots can help you brainstorm and list questions, but their answers can be wrong or based on overseas rules. Treat the output as research, check facts against the ATO and Services Australia, and if you need personal advice, get it from a licensed adviser.

When can I access my super in Australia?

Generally, when you reach your preservation age and retire, or when you turn 65, even if you’re still working. Your preservation age is 60 if you were born from 1 July 1964. Age Pension age is 67, which is a separate test.

How much must I draw from an account-based pension?

A minimum must be paid each year, based on your age. For 2023–24 onwards it is 4% of the balance under 65, 5% at 65 to 74, 6% at 75 to 79, and higher at older ages. You can draw more than the minimum.

How do I check that an adviser is registered?

Search the Financial Advisers Register on Moneysmart. It lists advisers who give personal advice on investments, superannuation and life insurance, and the licensee that authorises them. [5]

Want a person to look at your AI notes?

Start with a 30-minute Fit Check with Simon, Founder and Lead Retirement Planner, by phone or video call.