One year out from retirement
Retirement Planning in Australia: What to Do 5 Years Out, 1 Year Out & On Retirement Day
This week on Friends With Money, Money Magazine host Ryan Johnson speaks with financial adviser Nick Bruining (Netplan) about preparing for retirement from five years out through to “R-day.”
They cover assessing family arrangements, assets and cash flow, likely lifestyle spending, and creating a wishlist while prioritising paying off non-deductible debt. Nick explains why life insurance often becomes less necessary as assets grow, and how to reduce investment risk in super as retirement nears while still keeping some growth for a 20–30 year retirement.
They discuss boosting super via salary sacrifice, personal deductible contributions, carry-forward concessional rules for balances under $500,000, and debunk the “million-dollar myth,” noting Centrelink can meaningfully top up income. The episode also covers downsizer contributions, part pension rules while working, concession cards, and applying via myGov within 13 weeks.
00:57 Five years out checklist
03:25 Rethinking life insurance
05:24 Super strategy and risk
08:54 One year out planning
11:28 Boosting super smartly
14:35 Downsizing and centrelink
17:10 Purpose and part pension
21:10 Applying for pension cards
23:55 Retirement day logistics
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Email Us: podcast@moneymag.com.au
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