You’ve spent decades earning it. The next few years decide how you enjoy it.

Ideally, retirement planning should begin 5 to 10 years before retirement. This allows time to optimise super contributions, reduce debt, plan tax, review investments and understand how much income your assets can support.

The amount depends on your spending, home ownership, health, lifestyle, longevity and whether you will receive any Age Pension. A retirement plan should model income, expenses, market volatility, inflation and aged care possibilities.

Many pre-retirees consider concessional contributions, non-concessional contributions, spouse contributions and downsizer contributions where eligible. Contribution caps are set by the ATO and change over time, so advice should be based on current limits and your total super balance.

As retirement approaches, the focus often shifts from pure growth to income reliability, downside protection and liquidity. The aim is usually to avoid being forced to sell growth assets during market downturns while still maintaining enough growth to support a long retirement.

A financial adviser helps you make informed decisions about your money, including superannuation, investments, insurance, retirement planning, cash flow, tax-aware structuring, estate planning considerations and long-term wealth strategy.

In Australia, personal financial advice must be provided by an authorised adviser who is listed on the Financial Advisers Register. Advisers also need to meet conduct and disclosure obligations, including acting in the client’s best interests when providing personal advice.

You should consider financial advice when your financial decisions become complex, high-value or long term. Common triggers include buying a home, starting a family, receiving an inheritance, changing jobs, receiving equity or bonuses, preparing for retirement, selling a business, managing tax, or deciding how to invest surplus income.

Good advice is not just about investments. It is about creating a clear plan, understanding trade-offs and making sure decisions across tax, super, insurance, debt and estate planning work together.

Look for an adviser who is properly licensed, transparent on fees, experienced with clients like you, and able to explain advice clearly. ASIC’s MoneySmart recommends checking an adviser’s qualifications, experience, fees, services and whether they have any links to product providers.

A good adviser should take time to understand your goals, explain alternatives, disclose costs and risks, and give you space to make informed decisions.

A strong advice process usually includes discovery, goal setting, strategy development, written recommendations, implementation and ongoing review.

For personal advice in Australia, clients may receive a Statement of Advice explaining the advice, the basis for the recommendations, relevant costs, benefits, risks and any conflicts or remuneration. ASIC guidance emphasises that advice should be clear, concise and effective.

The cost depends on complexity. A simple advice engagement may be relatively contained, while comprehensive advice covering superannuation, investments, insurance, retirement modelling, tax structures and estate planning coordination may cost more.

Best practice is for fees to be clear upfront, agreed in writing and linked to the scope of advice. Clients should understand whether fees are fixed, hourly, ongoing, asset-based or a combination.