When I joined Blitz over 20yrs ago, I did not have starting a topic like this on my bingo card 
Starting to get to the age where retirement is a serious consideration in the next 7-10yrs. Would love to hear from Blitzers who have been or about to go through it. What were the things you wish you had planned for? What are the unexpected surprises (good and not so good)?
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Great topic. I’m also in the same age demographic. My super is going ok and I have a FA. But we haven’t really discussed much more than my current setup.
Be interesting to hear from people that are already transitioning to retirement.
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Retirement is an interesting concept, as it means different things to different people.
When you first mention it, the first question from just about everyone is “but what are you going to do with yourself?” It can get annoying.
The only plan you really need to have is around income and life style. That is very much up to individual taste and circumstance, just make sure that it is a real plan and that you have enough money to be able to go to the footy.
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Traveling is my main concern. I don’t want to give that up. Also, IF we end up having to stay in the US, the Mrs and I will have a $18-20K annual medical insurance bill 
Hoping to not be here for that!
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Great discussion. I’m also in the age demographic and with a working career that has consisted of shift work, I consider the lack of structure as my biggest fear.
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You would pick up a consulting gig in a second.
My plan is to retire at 60, and thankfully I have a brilliant super scheme.
My biggest concern is my health. I have a chronic illness that is deteriorating which will impact how active I can be (I work out 5 days a week) and mental health.
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As someone who is in their 30s and nowhere near it, I am scared that I will be forced to work into my 70s and 80s as that’s the direction the government is looking with the pension.
As I don’t have a labourer background, my job isn’t physically demanding so I cant be forced into an early retirement.
I might get to a stage where I can salary sacrafice more into superannuation but that’s not right now.
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Shift work is a strange beast. I love it, but I’m finding it harder and harder as the years progress. I’m hoping to go part time around 55yo, but the kids will still be mid teens. That’s probably not going to happen.
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Even a small amount at your age makes a huge difference over the long term.
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I’ve recently switched to regular hours as it was just getting too hard. Five days with normal people is a killer but so much better for my health and balancing home life work. I miss the shift hours and days off but I feel part of the real world again.
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This is a critical point - start thinking about your Super early and get financial advice. Every little bit helps when you contribute early - the wonders of compound interest.
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About to make the big call at the end of January. Off to NZ next week.
I gave my business to my 2 sons at the start of the financial year and have been doing a couple of days a week for them. I haven’t touched any super yet and although old enough haven’t applied for government pension or suchlike. Money in the business account is shrinking and haven’t had to touch any savings. Try to play golf every Wednesday and Sunday and the others swear on having a financial advisor. I saw one a few months ago and told him about the end of January so going back to him for another chat when I get back. Will definitely be checking this thread like a game day one 
. Well done @DonMania
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I’m 39 and would love to retire now. If anyone has a winning lotto ticket they could fling my way that’d be ace.
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Having just turned 60, I’m switching into transition-to-retirement mode now.
Starting Feb, I have 6 months off at half pay (long service leave) and am arranging to go back at 3 days p.w. from Aug '24 should I choose to. The 6 months will hopefully give me a sense of what I miss from work (if anything) and how I might adapt to retirement. My wife has a similar strategy over a longer period of time as she has a huge amount of LSL.
The aim is to stretch out leave entitlements to stay in paid employment for as long as possible considering super contributions and leave entitlements will continue to be fed over this time. So we are milking it where we can over the next couple of years.
The main concern for us is staying engaged as we are natural introverts. That will take some effort. Hopefully we have enough $$ to keep travelling once or twice a year.
Hence, the million dollar question - how much is enough???
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Terrific topic, fascinating to hear about everyone’s theories and plans.
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I am retired …and loving it.
It’s a different life for different people. Do what you enjoy and find people you like to hang out with. We do a lot of motorbike riding with a good crew and that helps keep us feeling young at least.
My main advice is to stay active - the old “use it or lose it” adage is never more appropriate than in your retirement years…so much harder to lose weight, get fit or tone up if you let it slip as you get older.
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Im not really the retiring type. I just dont like the mental mindset I guess.
Personally can see myself working, investing in growth assets, rewarding myself with hopefully finer and finer experiences as I get older and to keep my brain and body as healthy as I can.(both need a bit of work now) for as long as possible.
If my mind/body packs it in where someone just says im not fit to work my only wish/hope is that I can afford a nice home with appropriate carers. Ie forced retirement.
If i won the proverbial lotto tomorrow id still work. I would just have a finer home, a few nicer possessions and eat well/use more services.
I do not aspire to be a grey nomad or spend my days on cruise ships and golf courses.
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I’m also in the age range of retirement in the five years or so.
Haven’t a clue of what that will look like to be honest.
I’m a home body, not a traveler.
I’ll sadly still have a mortgage as well and partner will still be working.
My super is doing quite well.
Went to a forum last year and came out more confused than ever.
What I did take away from it though was how difficult Centrelink are and will be when sorting through pensions and so on.
That is not a process I’m looking forward to undertaking.
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I have been retired since mid 2019 and my wife retired at the end of 22. We have for the last two years taken out 60k tax free balance is still higher than when we started.
We travel Australia for roughly 4 months per year and really enjoy that. The advice I would give is firstly salary sacrifice - I did this with any work bonus , promotion pay increase etc. We found that if we did not see it we did not miss it ( we were paying the house off as well). Secondly your industry super funds have to have financial advisers ( not tied to the fund) and they are a great resource for planning. We commenced this as we moved to the transition to retirement stage.
We do supplement our income by doing some teaching supply work to the tune of $10,000 ( 20 days) per year.
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We’re retired with 4 grand kids aged from 9 years to 5 months, in 3 different locations, 2 close and one in Bendigo, fair to say we’re busy enough. Don’t assume retirement means lots of time on your hands.
Note we made it clear we weren’t going to do fixed child minding but we do cover illnesses, curriculum days, parent respite time etc, so it’s a chunk of most weeks. Our kids tend to book us ahead. When we start to feel like parents, which can happen, we tell them we’re going birding upstate. I pack the clubs.
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