#5: Free money, future-proofing and finding your feet in retirement with Nicole Pedersen-McKinnon & Kaye Fallick
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How do you fund your life when the pay cheques stop? For many of us, the world of superannuation and retirement planning is filled with confusing terms that make us want to ignore it completely. But what if you could make it simple?
In this episode of The Midlife Shift, host Alex Brooks talks to money expert Nicole Pedersen-McKinnon and retirement commentator Kaye Fallick for a frank and practical guide to funding your future. They explore why women are often behind the eight ball and reveal why you should think of your super as "free money" to pay more attention to it. Discover the crucial interplay between the government Age Pension and your own super savings, and why the standard retirement budget might not apply if you still have a mortgage.
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Click here for the video transcript
Nicole and Kaye share actionable advice on how to grow your wealth, even with a below-average balance. They cover:
- How to boost your super: Learn about spouse contributions, government co-contributions for lower-income earners, and the tax benefits of salary sacrificing.
- The power of your home: Understand the five pillars of retirement income and how new options like the downsizer bonus or reverse mortgages can allow you to access your home equity without selling up.
- A surprising mortgage tip: Find out why you should consider keeping your mortgage facility open after age 50, even if it's fully paid off, as your "holy shit fund".
- Where to find help: Learn how to get free, general advice from your super fund or government services like Services Australia to help you make informed decisions.
This is an essential guide to help you get your financial ducks in a row for a comfortable and empowered retirement.
Find Nicole Pedersen-McKinnon here
Find Kaye Fallick here
Citro is here to help
- How much super is enough? Spoiler: no magic number exists
- I’m not panicking about a global recession (but I am reviewing my super strategy)
- How to make sure you avoid the new 15% super tax
- Putting extra money into super just got even more attractive
- Super theft: check your super, check your password is unique
- 5 game-changing super moves to make in the lead up to retirement
- The case for and against setting up a self-managed super fund
- Nicole’s super boosters: 7 ways to swell your super fund in a single financial year
- Understand the ‘4% rule’ and why you must drawdown your super
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