Short term goals
Focus on the short term - the here and now. Are you happy with the income you can pay yourself? How long will this income stream last? For example:
- clear any debts – ensure you pay off credit card debt every month and clear any outstanding loans
- consider an account-based pension rather than taking your super as a lump sum - you may receive tax benefits
- find out about any government subsidies you may be entitled to as a pensioner
- set a budget and identify essential costs vs discretionary spend and create separate bank accounts so you don’t overspend.