What does your ideal retirement look like? Is it time-rich and worry-free, with lazy beach mornings, family barbecues and no deadlines in sight? Or is it a new chapter full of purpose, part-time passion projects and travel dreams realised? Whatever your version, one thing is true for all of us: a meaningful retirement doesn’t just happen – it is planned.
As experienced, skilled financial planners who walk this journey every day with Australians, we know that clarity and confidence make all the difference. So here are our top five tips for retirement planning in 2025 – grounded in insight, not hype – and focused on the life you actually want to live.
1. Don’t Just Save – Strategically Visualise
Too many Australians start with the question, “How much do I need?” before they have asked the more important one: “What kind of retirement do I want?”
We always begin with life-first, goals-based advice. Picture your future lifestyle:
- Where you will live
- What you will do
- How often you will travel
- Whether you will help the kids and grandkids
- Then calculate backwards
The Association of Superannuation Funds of Australia (ASFA) estimates a single person needs $50,004 per year and a couple needs $70,482 for a “comfortable” retirement. But everyone’s “comfortable” is different. What matters is aligning your plan with what really matters to you.
2. Supercharge Your Super in Your 50s
Superannuation remains one of the most tax-efficient retirement vehicles available, and 2025 presents opportunities to make it work harder.
If you are over 55, catch-up concessional contributions let you contribute up to five years’ worth of unused caps (up to $27,500 annually), helping you maximise retirement savings before you stop working. Just make sure your total super balance is under $500,000.
Also, take stock of your fund’s performance. According to APRA’s 2023 super performance test, 20% of MySuper funds underperformed their benchmarks. If yours is one of them, it might be time to seek a second opinion.
3. Manage Debt Before You Retire
Entering retirement with a mortgage, credit card debt or personal loans can create long-term strain. With interest rates fluctuating, eliminating or significantly reducing high-interest debt should be a priority.
Plan to reduce debt gradually in your final working years, while your income remains steady. Use a structured approach, like the debt avalanche or snowball method, and adjust your budget to redirect freed-up cash toward investments.
The goal isn’t just zero debt. It’s maximum freedom.
4. Prepare for Longevity and the Rising Cost of Living
Australians are living longer. According to the Australian Bureau of Statistics, the average life expectancy at age 65 is 85.3 for men and 88 for women. That’s potentially 25+ years in retirement.
Add to that rising living costs and the message is clear: your retirement savings must stretch further than ever. Inflation, healthcare costs and aged care expenses all need to be factored into your plan.
Rather than fear these years, let’s plan for them with intention. That might mean recalibrating your risk profile, reassessing drawdown strategies or exploring annuities and income streams tailored to long life.
5. Build In Flexibility and Regular Reviews
Retirement isn’t a fixed destination. It evolves – just like you.
We have seen how small changes in legislation, markets or health can disrupt even well-laid plans. That’s why we encourage clients to treat retirement as an ongoing strategy, not a one-time set-and-forget.
Schedule regular reviews to:
- Revisit your spending patterns
- Adjust income strategies
- Update your estate plan and insurance
- Reconfirm investment alignment with your life stage
Working with a trusted, independent adviser ensures your plan stays dynamic and reflects your changing reality, not is not just numbers on a spreadsheet.
Start planning now for a life you will love in retirement. Book a free meeting now!