Knowledge, preparation, and good advice are key to retiring confidently
Knowing what you want and how to get there – including growing your super – are essential to successful retirement planning.
Five steps to retiring with confidence
1. Know what you want
Retirement planning is not just about money. It’s about making sure you can enjoy the experiences, places, and activities you care about most. Your retirement is about you, your choices and what you want to achieve. Understanding your own core values can help you plan a more fulfilling retirement.
2. Get to know your super
Super is one of the cornerstones of Australia’s retirement income system and, apart from the family home, it is likely to be your largest financial asset by the time you reach retirement.1
The decisions you make today can have a big impact on your final super balance and the more you know about super and how to make the most of it, the more informed those decisions will be.
Start by logging in to your account and checking your balance
3. Start planning early
Whether retirement is far in the future, on the horizon or at your doorstep, there are things you can do right now to help you move forward with confidence.
4. Build a retirement budget
A detailed retirement budget can provide clarity about how much you need to save, how long the money will last and whether you can afford the lifestyle you want. Start by calculating your living costs and regular expenses. Use your current expenses as a guide, but remember, these may go up or down in retirement as your circumstances change.
5. Get financial advice
Getting professional financial advice has been shown to have a positive impact on financial literacy, engagement with super, and confidence in retirement planning. According to the 2024 Findex Superannuation and retirement insights report, Australians who receive professional advice have a better understanding of super and are significantly more confident in their ability to manage and grow their retirement savings.2
Additional resources
Retirement budget template
Download the budget template and use it to work out your ongoing income and expenses.
Don’t hope for the best, plan for it with financial advice
As a Mercer Super member, you have access to limited financial advice at no additional cost.
Explore more: it’s your time to prepare
Disclaimer: This content has been prepared on behalf of Mercer Superannuation (Australia) Limited ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust (‘Mercer Super’) ABN 19 905 422 981. Any advice is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any advice, please consider the Product Disclosure Statement (including incorporated documents) and Financial Services Guide available at mercersuper.com.au. The product Target Market Determination can be found at mercersuper.com.au/tmd. The material contained in this document is based on information received in good faith from sources within the market and on our understanding of legislation which we believe to be accurate.
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* Any information in this material regarding legal, accounting or tax outcomes does not constitute legal advice or an accounting or tax opinion and prior to relying and acting on this information it is important that you seek independent advice from a qualified lawyer or accountant regarding this information. Past performance is not a reliable indicator of future performance. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.
Past performance is not a reliable indicator of future performance. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.