In This Chapter
Taking into account at least six factors when retiring
Unlocking the preservation gate to your super savings
Choosing a lump sum, or a pension, or a combination of both
Understanding the tax implications of retiring before the age of 60
Retiring on or after age 60 with tax-free SMSF benefits
R etirement is a magical word that can evoke images of sunny days, relaxed travelling, long walks and spending quality time with family and friends — at least, that’s what I hope my own retirement is going to be like. On the other hand, the prospect of retirement can also trigger fear-filled thoughts about managing money, stressing over investment markets and wondering whether your money is going to last your entire retirement. (To evaluate your tolerance for investment risk, refer to Chapters 14 and 15; to see whether you can make your retirement money last, refer to Chapter 3.)
If you run your own super fund, you have the added responsibility ...