Although you’re never too early to start planning ahead, we believe your late thirties and forties are a good time to start properly planning for your retirement. At this age, you’re likely settled into your career, and may have even built up enough capital to consider long-term plans like investing.

Still, there’s no time like the present. Whatever age you are and whatever stage of life you’re at, we’d be happy to help you plan your retirement at our Melbourne CBD office.

Retirement isn’t just about age, nor is it just about the size of your finances. A useful way to consider retirement is by considering your financial freedom. You want to have enough money to afford the lifestyle you want to live. Depending on how you define that and your financial opportunities, you could retire in your forties or stay in a job you love well into your seventies.

As your Melbourne retirement planning team, our job is to help you gain a clearer picture of the kind of retirement lifestyle you want and then develop a financial plan to help you afford it.

As a rule of thumb, you should aim for an annual retirement income of 65-85% of your pre-retirement income. This figure assumes that you’re relatively debt-free and do not have a mortgage to pay off.

Assuming you don’t have significant financial liabilities, you can use the following guide to estimate how large your retirement savings should be:

• $700,000 for an annual retirement income of $59,000
• $1,100,000 for an annual retirement income of $70,000
• $1,800,000 for an annual retirement income of $100,000

Retirement planning for professionals working in Melbourne CBD often requires more complex financial strategies due to high incomes, equity packages, and investment property portfolios. A tailored approach can help manage these variables more effectively.

The city's professionals typically face unique financial pressures and opportunities:

• Many have superannuation accounts spread across multiple employers
• Some earn bonuses or commissions that must be factored into long-term planning
• CBD property and investment trends can shape decisions about downsizing or asset allocation

By working with advisors who understand Melbourne's economic and employment landscape, professionals can make better decisions about when and how to retire comfortably.

The local property market can significantly influence how people structure their retirement plans. Whether you own a home in the inner suburbs or investment property in the city, the value and liquidity of those assets impact your financial future.

For example, those planning to downsize may need to consider:

• Timing the market to maximise sale price
• Managing capital gains tax obligations
• The availability of suitable retirement-friendly properties nearby

A retirement planner familiar with Melbourne's housing trends can help evaluate your options and avoid costly missteps.

Yes, Melbourne-based executives often have access to salary packaging and bonus structures that can be used to boost superannuation contributions. A financial advisor can help structure these in a tax-effective way while staying compliant with annual limits.

Because many executives in Melbourne CBD work in corporate roles with variable income, it's important to:

• Time contributions to avoid breaching caps
• Consider using both concessional and non-concessional contributions
• Maximise opportunities close to retirement using the bring-forward rule

A personalised strategy aligned with your earnings cycle and investment goals can lead to better long-term outcomes.

Tax minimisation is a core part of retirement planning for high-income earners in the city. There are several effective ways to legally reduce your tax burden while preparing for the future.

Strategies may include:

• Salary sacrificing into superannuation
• Investing in tax-efficient structures like family trusts
• Using franking credits from shares in Australian companies
• Claiming deductions for financial advice related to retirement planning

A qualified advisor can help you create a strategy that reflects both your current income and future retirement goals.

Yes, retirement planners can help you assess whether you’re eligible for the age pension — and if not, how to make the most of your other income streams. They also ensure you’re prepared for the asset and income tests set by Centrelink.

In Melbourne, this is particularly important for people with property or self-managed super funds, as the structure of your wealth can affect how much support you receive. Planners can also help navigate local cost-of-living factors when modelling your retirement budget.

There’s no one-size-fits-all answer, but retirement planning can help you evaluate the financial pros and cons of staying in Melbourne versus relocating. Your decision may be based on proximity to healthcare, family, lifestyle, or financial pressures.

In our experience:

• Some clients choose to sell high-value CBD properties and move to regional Victoria to free up equity
• Others prefer to age in place and maintain strong access to hospitals, public transport, and social networks
• Planners can model the impact of either decision on your retirement income and longevity risk

Absolutely. Aged care is a major cost consideration for Melbourne retirees, and local financial advisors are well placed to help you plan ahead.

They can:

• Estimate future aged care costs based on your preferences and location
• Advise on financial products and strategies to fund these expenses
• Help manage the interplay between home ownership, super, and government entitlements

Melbourne-based advisors also understand the range of aged care providers available locally, which can be valuable when comparing options.

Ideally, you should begin retirement planning at least 10 to 15 years before your intended retirement date. However, even starting 5 years out can make a significant difference.

In Melbourne’s high-cost urban environment, early planning helps you account for:

• Property decisions, including downsizing or selling investment properties
• Structuring super contributions while income is high
• Navigating the rising cost of living in the inner city

Planning early means you can take advantage of compounding returns, reduce tax more effectively, and move into retirement with greater confidence.