Help to get your finances in order for retirement
Retirement income
The age you retire and how much money you’ll need when you retire is different for everyone. Most people who retire around 65 will need a retirement income for 20 years or more.
You can find more information on retirement income, including a helpful retirement planner tool on the Moneysmart website.
Financial Information Service
Services Australia has a free service to help educate people with managing their finances. You can find out more about the Financial Information Service on the Services Australia website.
Financial advisers
A financial adviser can help you make smart financial choices and manage your finances. The Moneysmart website has resources to help you find and choose a financial adviser. These links will take you away from myGov.
Budgeting
Having a budget when you retire can help prevent you from spending more money than you can afford to. Knowing your retirement budget can also help you plan for how much money you will need when you retire.
The Moneysmart website has resources to help you get started with budgeting and tracking your spending.
Finding unclaimed money
Some people have unclaimed money they don’t know about, including money in lost bank accounts, shares, investments and life insurance policies. This can happen when you have an account with a financial institution and you:
- Don’t make a deposit or withdrawal for 7 years or more.
- Move without updating your details with your financial institution.
Find out how to find unclaimed money on the Moneysmart website.
You may also have held Medicare benefits if Medicare doesn’t have your current bank details. You can check your bank details with Medicare using your Medicare online account or the Medicare Express Plus app.