Your money in retirement

Living longer means more life to enjoy. If you’re retired, or planning to retire, here are some ways to help make your money go the distance.

Your money in retirement

Claim your government entitlements

You may be eligible for government benefits such as:

  • Age Pension

  • Pensioner concessions

  • Health care benefits

  • Tax offsets

See Age Pension and government benefits.

Keep working, reduce hours or retrain

Continuing to earn an income, even part-time, can help your retirement savings last longer. If you want to keep working, options include:

  • Transition to retirement — if you’re aged 55 to 60, you can access some of your super while working. And you can continue contributing to super

  • Retrain or change career (myskills) — explore your options to retrain or seek part-time work

  • Work Bonus — if you get the Age Pension, you can earn $300 per fortnight before it is reduced

Get senior concessions and discounts

Senior concession cards can give you discounts on things like public transport, prescriptions, health care, utility bills and insurance.

See concession cards for information on:

  • Pensioner Concession Card

  • Seniors cards

  • Commonwealth Seniors Health Card

Consider downsizing or renting out space

Downsizing your home could free up money to pay off your mortgage or invest for your retirement. Or you could consider staying in your home and renting out a room or taking in a boarder.

Before going ahead with any of these options, check the tax impact and whether it will affect your government benefits. 

Start volunteering

Staying active is good for your mental and physical health. Volunteering is one way of doing this — enriching your life and giving back to the community. It can also connect you to new friends with similar interests.

See Volunteer Australia’s GoVolunteer website to find out more.

Get help with money if you need it

Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at

Important note: This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.  Past performance is not a reliable guide to future returns.

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If you need help to deal with debt or money problems, contact a financial counsellor — a free, confidential service.

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Authorised Representative 298494
Interprac Financial Planning Pty Ltd 

Darryl Jopling

Senior Adviser

I have worked in the financial services industry since 1982 and as a Financial Adviser since 1999.

I have worked for large Financial Planning businesses, Membership based organisations and looked after the financial planning needs of clients within an Accounting Practice before starting my own business.

I am married, have 4 older children and a grandson and I am keen golfer with mixed results like many .

I have been through many of the strategies I talk with clients about myself and with my family.

I have been through the journey of seeing my parents move into Aged care and negotiated the difficulties and pitfalls of understanding the system for them and this gives me an excellent insight into what is required to assist families at this difficult time.

In a previous roll I used to run retirement seminars looking at Centrelink and Retirement Incomes and how to make these work for you. I have helped many of my clients with Aged Care advice when their parents needed to move into Nursing Homes. For many clients I assist them with superannuation, building wealth and protecting their loved ones with insurance.

I am supported by his, Licensee, Interprac Financial Planning’s in-house resources and ongoing technical, systems and training.

I am committed to understanding your needs and identifying strategies and products to help you achieve your goals.

My guiding principle as an Adviser is to design plans which help to provide my clients with clarity of purpose and the opportunity to build a solid financial foundation.
I will take the time to listen, explain things clearly and keep you informed throughout the advice process.

My experience is complemented by professional qualifications including:

  • Certified Financial PlannerTM Professional
  • Diploma of Financial Planning

At Choice Financial Advice we work with you along the way on life’s journey.

Whether you are getting married, starting a family, embarking on the trip of a lifetime, planning to enjoy your years after work or assisting elderly parents with Aged Care and Nursing Home placements, we can help.