11 Things to do when you retire
It’s important that when you decide to retire you have a purpose and continue to be active. The best part of being retired is that you get to do things you want to do, rather than you have to do.
Below are some things you may wish to consider in retirement.
1. Apply for Centrelink Benefits
Once you reach Age Pension age you may be eligible for an Age Pension benefit depending on your assets and income (hopefully you have too many assets to be eligible). If you’re not eligible there are potential health care cards such as Commonwealth Seniors Health Care Card if your assets are too high for Centrelink Age Pension and/or Low Income Health Care Card; as well as the Victorian Seniors Card.
Remember if you retire before reaching age pension age you are not going to be eligible for Newstart Allowance, with the exception of certain rules around volunteer work.
2. Travel
Almost every pre-retiree we meet with lists travel as one of their main goals for retirement. This could include caravanning around Australia, or heading off overseas.
Why not start researching and planning now? That way, once you retire, you can start booking your tickets.
3. Looking after Grandkids
Otherwise known as the cheapest form of childcare tee hee…
Not only do the little ones keep you busy, but you’re saving your own children childcare costs and this may mean that they can re-enter the workforce earlier to help them get into a better financial position.
Even if it’s not a regular care arrangement, it’s great to be the ones who get to spoil the kids and take them on fun adventures, and leave all the disciplining to their parents.
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