1. Know your number
Work out what you spend now and what you would like to spend in retirement. Then estimate how big your apple tree needs to be. Moneysmart’s retirement planner is a good first look.
2. Check every super account
Log in to myGov and look for lost or doubled-up super. Check fees, investment options and insurance before you consolidate.
3. Use the contribution caps
The concessional cap is $32,500 for 2026–27. If your balance is under $500,000 you may be able to carry forward unused amounts from previous years. See the 2026–27 caps.
4. Plan the mortgage
Going into retirement with a home loan is more common than it used to be. Decide whether to clear it with super, salary, or a downsize later.
5. Review insurance
Cover you needed at 40 may not be what you need at 58. Check what is held inside super: insurance in super.
6. Get your estate papers in order
- A current will.
- Enduring power of attorney (Queensland forms).
- Binding death benefit nominations on every super account.
7. Think about how you will stop
Full stop, or wind down? A transition to retirement strategy can help you cut hours.
Want someone to go through it with you, in shorts and a t-shirt if you like? Book a no-obligation chat.
Quick answers
When should I start planning for retirement?
The earlier the better, but your 50s are when most decisions (contributions, debt, timing) make the biggest difference.
Sources
General advice warning. This article is general information only and does not take into account your objectives, financial situation or needs. Rules and thresholds change; check the sources above. Past performance is not a reliable indicator of future performance. Consider the relevant PDS and our Financial Services Guide and seek personal advice before acting. FinForce is authorised under Financial Force Pty Ltd AFSL 238337. Shay has been authorised since 18 October 2011.