Episode 7: Navigating Retirement

In this episode we unpack the complexity of retirement and liken the retirement puzzle to a half built car, exploring some tools worth considering to get motoring on the road to your best retirement. SHOW NOTES 01:18 69% of women, compared to 63% of men aged over 65, depend on the aged pension to get themselves through retirement according to ABS (Australian Bureau of Statistics) statistics from 2017. 02:09 Retirement income and worrying about retirement income was the second biggest worry pre-retirees had according to a new study- The Retirement Income Worry. The study also found that women worry more and that people that were pre-retirees worried more than those that were in retirement. 04:40 45% of women between 65 and 69 have zero superannuation. 06:09 The Workplace Gender Equality Agency released a great report earlier this year revealing that there are more elderly women than men that are living in poverty in Australia and a growing number of women are experiencing homelessness. 08:08 When you look at cognitive decline it is even more complex. From age 65 women have a one in five chance of developing Alzheimer's (Alzheimer’s is the most common form of dementia). 09:56 The accumulation phase is pretty robust, but the decumulation phase is a bit more challenging. It's like a half built car. And then what we're asking people to do is to then finish building it; here is the spanner, here is the wrench, go sort it out. 13:05 A Milliman study found that more than half of retired Australians restricted their spending to less than the age pension 15:18 Retirement is the only time in your life when time no longer equals money. 16:41 The concept of a retirement coach or the advisor as the life coach who can take some of that worry away. 19:19 Enjoying retirement and having that last cheque bounce. 20:01 Great quote by the father of Value Investing, Benjamin Graham - ‘Investing isn't about beating others at their game, it's controlling yourself at your own game.’