Three big questions I get asked all the time (and my answers)
And in today's newspapers, 'Not ready to retire yet? This could be the strategy for you'
In this week’s edition:
Feature: Three big questions I get asked all the time (and my real answers)
Newspapers: Not ready to retire yet? This could be the strategy for you
Podcast: Dipping your toe into retirement
From Bec’s Desk: This week is going to be fun!
Three big questions I get asked all the time (and my answers)
Do you ever wonder what I get asked all the time? Well, I’ve been making a note of the questions and I’m going to start using them as inspiration for this newsletter. Here’s three of the best this week. Got one you want me to answer? — Send it in.
1. What if I’m not ready to stop working—but I don’t want to keep going like this?
Welcome to your Prime Time. This isn’t about pushing through until the finish line—it’s about redesigning work so it actually works for you so you do want to keep doing it — if that’s a priority for you. The good news is, the world has changed and there are now more flexible ways to stay engaged with work while freeing up time and energy for the rest of your life — I promise.
For employees aged 55+, Australia’s Fair Work Act gives you the legal right to request flexible working arrangements, including reduced hours or days. Your employer has to respond within 21 days. While they’re not legally required to approve it, many workplaces are becoming more open to part-time and remote roles—especially since COVID shifted how we think about productivity.
And if you’re self-employed or freelance and unhappy with how things are working, this is your moment to reshape your schedule and set some lifestyle boundaries. Or consider building a portfolio career—where your work includes a mix of paid gigs, passion projects, volunteering, and maybe even sabbaticals.
Think of this not as winding down, but changing gears. The goal is energy, purpose, and time freedom—not burnout followed by a sudden retirement then relevance deprivation.
2. How do I know if I have ‘enough’ to retire?
The big ‘enough’ question isn’t really about hitting a magic number (athough there’s plenty of benchmarks on how much is enough)—it’s about knowing three things about yourself and your lifestyle:
What your cost of living and lifestyle will cost across all phases of retirement
What income streams you’ll have to fund it (at each stage)
How to draw down those assets and income sources tax-efficiently, without running out before you die
Technically speaking, you’ll want to map out:
Your annual income needs (don’t forget fun and travel, not just bills)
Your superannuation balance and whether it’s in accumulation or pension phase (where earnings and withdrawals are tax-free)
Any non-super assets like shares, savings, or property that might be able to generate an income or be sold/repurposed to do so at some point
Your eligibility for the Age Pension and any other income-tested benefits (like the CSHC)
A drawdown plan that takes into account sequencing risk, investment returns, and how long you really might live (ignore those simple estimates that say 85 and 88 — they are under-estimating your real longevity if you’re healthy and proactive).
Retirement doesn’t have to mean your spending stops. It means shifting from earning your income from exertion to having more passive income sources. The more confident you are in that plan, the freer you’ll feel.
3. Is it too late to make a difference with my super if I’m over 50 (or 60) now?
Not even close. The decade before retirement is often the most powerful time to grow your super. You can double your money in super every 7-10 years simply through good compound investing at returns of 7-10% per year, and generate even more if you keep contributing to your super!
Here’s some things anyone can do to make a decent difference in years not decades.
Salary sacrifice up to the concessional cap ($30,000 from 1 July 2024)
Make catch-up concessional contributions using unused caps from the last 5 years (if your balance is under $500,000)
Review your investment mix and evaluate how you can keep a healthy portion in growth investments for the longer term —many people shift too much into conservative investments when they don’t need that money for 10-20 years and it could keep growing. (Be sure to understand where your shorter term income will come from to avoid sequencing risk)
Consolidate old superannuation accounts to reduce duplicate fees and insurance premiums
Consider spouse contributions or co-contributions if you’re in a couple with uneven balances
Think about whether you’re in the position to downsize and make use of the downsizer concession, which allows you to contribute up to $300,000 into super tax free from the sale of your home. It requires you to have owned it for 10 years and lived in it as a principal residence.
And remember: super continues to grow during retirement. In the retirement phase, it’s tax-free and can still be invested in a solid portion of growth investments. So the changes you make now can compound for decades - really!
Another long weekend! It would be nice if it wasn’t raining and they hadn’t sent back my manuscript for another ‘quick review’. It’s never quick reading 400+ pages of your own writing! 😮💨 I will be thrilled when this book finally goes to print!
The week ahead is looking fun!
On Monday evening we have our Live Q&A for the How to Have an Epic Retirement Flagship Course for Winter 2025 and David Lane, the QLD State Manager of Ord Minnett, also a Senior Financial Adviser is our guest. We’re talking all about investing, financial advice and superannuation.
Then, I’m heading to Melbourne for a few days to MC and speak at the Hostplus Retire Ready event — and you’re invited to tune in online or join us in person.
I’ll be sharing ideas on Embracing an Epic Retirement at this big pre-retirement event, held at the Clarendon Auditorium in the Melbourne Convention Centre on Tuesday evening. Doors open for registration from 5.30pm, and the live broadcast kicks off at 6pm. And it’s not just me you’ll hear from — some brilliant financial planners will be diving into the tools and strategies to help you get retirement-ready.
👉 REGISTER HERE to attend or book in to watch online. Hope to see you there!
This week’s podcast really seemed to strike a chord. It’s all about ‘dipping your toe into retirement’ — and some wonderful letters came in afterwards that really made me smile (THANK YOU!).
I’m always a little surprised when the episodes I record with my producer Emilia get so much feedback — mostly because I’m far more comfortable interviewing others than sitting in the expert chair myself. But it turns out, you seem to like those ones much more than I like listening to myself! 😊 Should we do more of these ‘Bec as the expert’ sessions on the podcast? I’d love to know what resonated — hit reply and tell me what you’d like us to dig into next.
I’ve quietly put the 25% off Earlybird Deal live for our Spring Edition of the How to Have an Epic Retirement Flagship Course this week too, knowing a few of you want to get in and get organised early for this one because you’re going away beforehand. So it’s live and you can book. The course kicks off on the 28th August. 👉🏻 More information here 👉🏻
Now, I’m off to read that manuscript AGAIN!
Have a lovely long weekend. Lest we forget our ANZACs.
Got thoughts this week — hit reply to email me or leave a comment.
Cheers, Bec Wilson
Author, podcast host, columnist, retirement educator, and guest speaker
Not ready to retire yet? This could be the strategy for you
Extract of article published in print in The Age, The Sydney Morning Herald, Brisbane Times, WA Today on Sunday 27th April 2025.
What if retirement wasn’t a line you crossed, but a lifestyle you eased into – deliberately and on your own terms?
For decades, retirement has been treated like a finish line. A date we count down to. One day you’re working, the next, you’re not. But as we live longer, work more flexibly and expect more from life, that abrupt model is starting to feel outdated.
In its place is a more thoughtful approach I call dipping your toe into retirement. It’s about gradually stepping into life after full-time work – giving yourself time to figure things out rather than making all the decisions at once.
Retirement is better seen as a continuum: a slow shift involving financial preparation, emotional readiness and a reworking of your lifestyle to suit what’s next.
Some of the most fulfilled retirees I’ve met didn’t retire in the traditional sense. They began easing in five or 10 years before they fully stepped away from work, gradually shaping a life they genuinely wanted to live.
Often, that meant reducing their hours, trialling new routines, taking career breaks or volunteering. They rebalanced their priorities and made small changes to explore what brought them joy and meaning, while also planning how to fund it.
Start small
A simple way to dip your toe in is to shift to a four-day week. That one extra day creates space – for health, family, hobbies, or simply catching up on life. It gives you the chance to try a different rhythm while still enjoying the structure and financial benefits of work.
One Prime Time podcast listener described it as “a way to practise living life better, before I have to do it every day”. That mindset is powerful. It lets you experiment, reflect and adjust, long before you retire for real.
Then, when that day becomes purposefully used, and you’ve built up some financial confidence in what you can afford, you might step down another day to three days a week. Each step, taken carefully, can allow you more time to be sure about your approach to your future retirement.
How to fund the shift
You don’t need to stop working completely to access your super. If you’re over 60, a Transition to Retirement income stream may allow you to draw a modest income while continuing to work part-time. Your super stays invested and working for you, and if you’re still contributing, you could even reduce your overall tax bill. (READ ON… in The Age, The Sydney Morning Herald. )
Dipping your toe into retirement
Retirement doesn’t have to be a finish line you stumble across one day—it can be a gentle, joyful transition that you design on your terms. In this episode of Prime Time, I’m cracking open a key theme from my new book Prime Time and chatting with my producer Emelia Fuller about how to try retirement before you buy it.
From negotiating one less day of work to planning a sabbatical or exploring a "portfolio lifestyle", I’m exploring how to gradually step into the next phase of life with more freedom, more choice—and less fear.
Plus, special guest Kat McPhee from Aware Super joins the show to unpack how superannuation can support a flexible or semi-retirement lifestyle, including tax advantages, transition-to-retirement options, and how to keep your money working while you enjoy your prime time.
LISTEN TO THIS EPISODE OF THE PODCAST HERE: