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James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
I retired at 66, had spent the whole of my last year working getting myself thoroughly organised re: pension, super and what my intentions were when I gave up permanent employment.
I now have casual work, enough to suit my needs and am very happy.
I am 67 and retired three years ago. I started planning for retirement in my 30’s, setting up a self managed super fund with my husband who died soon after. I raised our three children on my own for ten years, before remarrying at 51. I financially supported my new husband to open a business which failed immediately due to the global financial crisis that hit a month later. I realised then that I would not be able to retire debt-free. I have a mortgage I will not be able to pay off in my lifetime that has to be serviced from my SMSF and, given the value of my house and SMSF, I do not qualify for any type of concession or government support.
I retired from paid part time work at 71 as found it stimulating and working from home plus some travel since I was working for a global health organisation. No regrets and would consider casual work if it suited both parties. My extra ten years after full time work was to boost my super as well as keep my brain active. I now have enough to live on so could do voluntary work and enjoy non work life at same time.
Close to retiring can I take super as allocated pension and also get a part pension. I’m a non home owner and have $700000 in super and $55000 in shares.
Hi Peter, thanks for commenting! The asset threshold for single non-homeowners is $846,750 so based on the figures you mentioned you would be under this threshold however there are other assets such as bank accounts, cars, personal contents etc. that need to be included. I recommend you try our free online eligibility calculator HERE to get a better idea.
We are both 75. I retired 5 years ago to care full time for my husband who retired 10 years ago due to Parkinsons Disease and Bladder Cancer. We both have approx $350,000 in Super Funds which we are drawing down fortnightly on, about $100k cash and recently managed to get a small part of the Commonwealth Govt Pension and a minimal amount as a Carer Payment. Due to extreme medical bills over the past 15 years it is a relief to have the part pension as it provides health care and other benefits. We have a tri level town house in which we have put ramps and a chair lift for my husband who is on a walker. My question is: We are looking to sell our townhouse for approx $1.5million and move into a single level retirement community – hopefully for about $900,000. This would provide approx $700,000 which we are hoping to top up our Super Funds with and have cash to travel if we can. Based on this information is it likely that we would lose our small Govt pension and benefits? We are not sure of the thresholds etc.,
Hi Kathleen, thank you for seeking further clarity! Our financial advice consultations can help you better understand both your eligibility for the pension after the changes you mentioned but also some of the actions you can consider to help you achieve the goals you have for your future. The consultation can be either online or via phone call, goes for up to 45 minutes and costs $150.
CLICK HERE to book now.