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September 16, 2026 \u2014 4:30am<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n For those thinking of retirement, this six-part series helps to provide the clarity and confidence to take the next step. See all stories.<\/a><\/p>\n Superannuation is supposed to deliver peace of mind, but research shows that many Australians still worry about supporting themselves in retirement.<\/p>\n AMP\u2019s recent Retirement Confidence Pulse survey<\/a> found that more than 1 in 3 Australians aged 65 or over feel financially insecure, worried their savings won\u2019t last.<\/p>\n Among pre-retirees, financial anxiety is even more prevalent, says HLB Mann Judd wealth management partner Jonathan Philpot.<\/p>\n \u201cOf the clients I see who are approaching retirement age, the clear majority are worried they\u2019re going to run out of money,\u201d he says.<\/p>\n The good news is that there are steps you can take in your later working years to help you greet retirement with greater clarity and confidence.<\/p>\n \u201cThe sooner you start thinking about these things, the better,\u201d Philpot says. \u201cBut it\u2019s never too late.\u201d<\/p>\n When can I access my superannuation?<\/p>\n You can access your super when you turn 60 (known as the preservation age) and retire, or automatically when you turn 65.<\/p>\n Under the government\u2019s transition to retirement rules<\/a>, you may also be able to access regular super payouts if you reach the preservation age and decide to keep working but reduce your hours.<\/p>\n How much money should I accumulate in super?<\/p>\n \u201cThere\u2019s no one-size-fits-all answer to this question, but there are figures you can use as a guide,\u201d says William Buck wealth advisory partner Scott Montefiore.<\/p>\n Related Article \u201cTo maintain a two-person household, accounting for everything from groceries to private health insurance, you\u2019ll typically need between $50,000 and $70,000 per year between you. That\u2019s assuming your mortgage is paid off.\u201d<\/p>\n If you plan to retire at 65, multiplying the annual figure for your household by 20 will give you a good idea of how much money to amass in super, Montefiore says.<\/p>\n \u201cThat\u2019s because you need to withdraw at least 5 per cent of your super each year from age 65 to 74, and greater percentages after that,\u201d he explains.<\/p>\n If you\u2019re still in good health in your 80s, you can divert some of your super to a savings account as you receive it, or rely on other investments or the Age Pension to support yourself beyond 85.<\/p>\n What should my asset allocation be in the lead-up to retirement?<\/p>\n Your superannuation balance can be invested in one or more asset types, such as cash, property and shares.<\/p>\n Each asset type carries a degree of risk: investing your super in shares, for example, is riskier than keeping it in cash, but could grow your balance significantly if the stock market does well.<\/p>\n \u201cAs a general rule, your super should be in the most aggressive investment option at the start of your career, and you should slowly wind it back as you approach retirement,\u201d Philpot says.<\/p>\n Related Article Allocating your super to higher-risk, higher-reward assets early in your working life allows you to ride out any market fluctuations and reap the benefits of long-term growth, while moving into safer assets near retirement provides certainty, Philpot says.<\/p>\n What is the retirement phase?<\/p>\n When you retire and submit a request to access your super, your accumulated savings are converted into a regular, tax-free income stream (often referred to as a pension).<\/p>\n Your balance remains invested in the assets of your choice and can grow during the retirement phase. Even better, you pay no tax on investment earnings, whereas you pay 15 per cent tax during the accumulation phase.<\/p>\n If your super is invested across multiple asset classes, you can choose which portion to withdraw from first, Montefiore says.<\/p>\n \u201cQuite often, people will have at least a couple of years\u2019 worth of super invested in cash when they first retire, so they can draw on a safe asset class and have more scope to withdraw from riskier asset types when they\u2019re at highs,\u201d he says.<\/p>\n How else can older workers prepare for retirement?<\/p>\n Montefiore says paying down debt \u2013 particularly your mortgage \u2013 before you retire is the best way to minimise uncertainty and anxiety about your finances in your retirement years.<\/p>\n He also encourages comfortably-off Australians to maximise their super balance through concessional and non-concessional contributions.<\/p>\n \u201cSuper is a very efficient tax structure,\u201d he says. \u201cYou\u2019re only taxed 15 per cent on investment earnings while you\u2019re working, so it\u2019s the most favourable investment environment you can choose.\u201d<\/p>\n Finally, he recommends older workers stay engaged.<\/p>\n \u201cThe five-to-10 years before retirement can make a huge difference to the health of your super, and the best way to achieve results is to keep it front of mind.\u201d<\/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 personal circumstances before making any financial decisions.<\/p>\n Expert tips on how to save, invest and make the most of your money delivered to your inbox every Sunday. Sign up for our Real Money newsletter<\/a>.<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n Remove items from your saved list<\/a> to add more.<\/p>\n![\"There](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/09\/e245f4113754757a1b34ebabd8306f143f02000b.jpeg\")
There are steps you can take in your later working years to help you greet retirement with greater clarity and confidence. <\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/09\/73895cdfa70882a1ac1ede0151e837b88195ef733b30fab3147724885f10e266.jpeg\")
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