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<\/p>\nA call to action for mid-lifers and pre-retirees<\/p>\n
I want to propose something wild to today\u2019s pre-retirees and mid-lifers: step up and understand whether you\u2019re going to be in the group of people where \u201caccess\u201d will drive when you retire; or whether you want \u201cagency\u201d over when you make it happen. Then, let\u2019s look at the options you might have to get there \u2013 whether you have great funds today or just a little bit.<\/p>\n
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At 60, you may not want to retire, just work less. Credit: Louise Kennerley <\/p>\n
Understanding the key access ages is important because it helps you design your retirement with intention. Here are some key points to keep in mind as you plan your transition<\/a>.<\/p>\n At 60, if you don\u2019t want to retire but want to work less, you can access your super through a transition-to-retirement income stream, drawing up to 10 per cent of your balance each year.<\/p>\n This gives you flexibility to reduce your hours, or perhaps step into a role that better suits your lifestyle.<\/p>\n Accessing super through a transition-to-retirement income stream lets you reduce your hours or step into a new role.Credit: <\/p>\n If you decide to retire at 60, you can move your super into the retirement phase and start withdrawing tax-free income or lump sums, as long as you give up gainful employment and don\u2019t work more than 10 hours a week.<\/p>\n You can change your mind later, as long as it wasn\u2019t a pre-arranged plan.<\/p>\n At 65, you can access your super unconditionally and keep working as much as you want. At 67, you can access the age pension, which is a valuable layer of income. For those with smaller super balances, this can provide a moderate to comfortable income. If you want to retire before 60, you can! But just ensure you have savings outside super to cover your expenses and maintain the lifestyle you want.<\/p>\n Planning your income in phases<\/p>\n Loading<\/p>\n So how do you use these access points as levers? If you\u2019re smart, you\u2019ll start to envision your life in phases. For example, if you want to take a sabbatical at 53, you\u2019ll need genuine savings or an income stream outside super to fund that time off \u2013 whether it\u2019s for travel, rest or personal growth.<\/p>\n Perhaps you want to change career paths in your mid-50s, shifting from an unstable role to the type of more flexible work that you know you\u2019ll find purpose in. That might mean taking a pay cut of $15,000 a year. That\u2019s a choice people can make \u2013 but only if they don\u2019t \u201cneed\u201d that $15,000 to fund their basic expenses.<\/p>\n Or, they can build up savings that generate an income, or are used as capital that would plug the gap.<\/p>\n If you\u2019re looking to drop to a four-day working week at 57, you\u2019ll need to calculate how much extra income you need to cover the gap.<\/p>\n This time of your life could be the best years you\u2019ll ever have, so work out how you\u2019ll use them and shape how your money works to support that.<\/p>\n Then, you\u2019ll have to figure out how long you want to continue working at that reduced capacity, and what kind of savings you\u2019ll need outside super until you meet the conditions of release. Once you can access your super, it\u2019s time to consider what comes next and when it\u2019s smart to deploy it.<\/p>\n You might not want to stop work cold just because you can at 60.<\/p>\n Instead, you might decide to keep working until beyond 65, but in a reduced capacity or a less stressful role. In this case, you\u2019ll need to think about whether it\u2019s wise to start drawing from your super now to fund your lifestyle or preserve it for the future when you\u2019ll have no work income trickling in.<\/p>\n Alternatively, you might opt for a transition-to-retirement (TTR) income stream, which allows you to draw an income while continuing to work part-time. This gives you a bit of a buffer before you fully retire, and you can access your super gradually while maintaining some income from work.<\/p>\n Staged like that, you might be able to access some age pension income, from 67, particularly if you\u2019ve depleted some of your super.<\/p>\n If you\u2019re ready to step away from work and ramp up your lifestyle \u2013 perhaps take a big holiday or pursue a passion project \u2013 you\u2019ll need a lump sum to fund the trip or project, as well as an income stream to cover ongoing expenses.<\/p>\n Finally, many people may not consider themselves able to afford to access their super in their early or even mid-60s. Instead, they might focus on carefully managing their everyday expenses and building their super as much as possible, working towards the goal of hitting the sweet spot by 67, when they can combine the age pension with income from a small super balance and achieve a modest but sustainable income stream.<\/p>\n This is a smart strategy too. And it shouldn\u2019t be shirked as the path to the most epic retirement available.<\/p>\n The other option \u2013 just keep working until your employer calls time, or your health starts to decline, and you\u2019re forced to make decisions, like 69 per cent of Australians today. (I\u2019m kidding!)<\/p>\n But face it: pre-retirement is no longer a phase where we count down to a finish line designated by age \u2013 and it doesn\u2019t have to be if we get in earlier and plan. This time of your life could be the best years you\u2019ll have, so work out how you\u2019ll use them and shape how your money works to support that.<\/p>\n Make your prime time count.<\/p>\n Bec Wilson is author of the bestseller How to Have an Epic Retirement and the newly released Prime Time: 27 Lessons for the New Midlife<\/a>. She writes a weekly newsletter at epicretirement.net<\/a> and hosts the Prime Time<\/a> podcast.<\/p>\n Advice given in this article is general in nature and is not intended to influence readers\u2019 decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making financial decisions.<\/p>\n![\"Accessing](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/0707a650b57ee28e492c8b6a944f78bf85016e40.jpeg\")
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