Retirement case studies

Linda

Age: 

60  

Concern:

Time-poor and relatively low super balance 

Goals:

Understanding costs in retirement, understanding changes she needs to make to improve her position

Super balance:

$45,000

• Read Linda’s journey

  Linda is 60 and works part-time in healthcare while renting her home. Her super balance is $45,000, split across multiple super funds due to working for multiple employers, and she expects the Age Pension to be her main source of income in retirement. She feels time poor and overwhelmed by super and retirement concepts, and is looking for simple, trusted guidance.  

  	Goals Linda wants to understand her likely retirement costs – especially rent – and clarity on when she can retire. She also wants to know how the Age Pension will support her, what steps she can take now to improve her position, and what to expect at key milestones like age 65 and 67. She wants to know what will happen with her assets if she were to pass away – and what mechanisms she can put in place – such as a beneficiary nomination and a will.
  	Considerations As Linda gets closer to retirement, a few simple actions may help improve her financial position. Consolidating her super could save her on fees and the added burden of dealing with multiple super funds. Increasing her contributions – and potentially using a Transition-to-Retirement (TTR) income stream – could boost her super while reducing tax. Reviewing her insurance and adjusting her investment mix could also ensure her super suits her changing needs as she reduces her work hours.    Understanding whether her expected retirement income covers key essentials like rent, utilities and healthcare is important, as is planning around her Age Pension eligibility at 67. Thinking ahead about when to apply can give her greater clarity and confidence as she approaches retirement, especially as she can apply for the Age Pension 13 weeks before she turns 67 to reduce the chance of missing out on any entitlements.
  	How Prime Super can help Prime Super can support Linda with simple, jargon‑free conversations with a super and retirement specialist at no additional cost, to help her understand her contribution, insurance and investment options as she nears retirement. She can also use our calculators to map her essential expenses, insurance needs and visualise the impact of boosting her super. Our clear online resources explain Age Pension eligibility and timing, and she can learn at her own pace through webinars and short learning tools.     To help her to understand and plan for the Age Pension, our partner Retirement Essentials offers a free Age Pension and Commonwealth Senior’s Healthcare Card eligibility calculator. When she’s ready to apply, Retirement Essentials also offers an optional paid service, where an Age Pension expert can help guide her through the process. This support can make the application process easier to navigate, reducing some of the stress that can come with dealing with Centrelink.

Pat

Age: 

67 

Concern:

Unsure about how she might best access her super 

Goals:

Create a stable, sustainable income with the resources available to her

Super balance:

$82,000

• Read Pat's journey

  Pat is 68, rents her home, and has recently retired. Her super balance is $82,000 and she receives the full Age Pension. She hasn’t converted her super into an income stream, as she is unsure about how to start one, what her options are, or how it might affect her government entitlements. Her confidence is moderately low, and she prefers simple explanations. 

  	Goals Pat wants to know whether she can turn her super into a stable, flexible income to supplement her Age Pension. She wants to feel secure that her withdrawals are sustainable and know she can manage unexpected costs.
  	Considerations As Pat settles into retirement, a simple budget that captures her key expenses – like rent, utilities and medical costs – can help her understand how much income she needs. She may also want to consider starting a retirement income stream to supplement her Age Pension, while checking how it could affect her eligibility. Reviewing her investment options, keeping a small cash buffer for unexpected costs, and choosing between online tools or one‑on‑one support can all help her feel more confident managing her retirement income.
  	How Prime Super can help Prime Super can support Pat with simple, jargon‑free conversations with a super and retirement specialist at no additional cost, to help explain in simple terms how retirement income streams work and how they may complement the Age Pension. She can set up a super income stream, which generally provides tax-free payments to members whilst keeping her super invested for growth, and use our Retirement Needs Calculator to understand and build a clear budget for ongoing expenses.     To understand whether she can keep the full Age Pension, she can use our partner Retirement Essentials' eligibility calculator for free. If she wishes to speak to someone for a fee, an Age Pension expert can support her through any changes she may face, reducing some of the stress that can come with dealing directly with Centrelink.

Mark & Sophie

Ages: 

51 & 54 

Concerns:

Balancing their mortgage and super contributions to plan for retirement

Goals:

Agree on a retirement timeline, define target income, boost super effectively

Combined super balance:

$320,000 

• Read Mark & Sophie's journey

  Mark (51) and Sophie (54) own their home with a small remaining mortgage. Their combined super balance is around $320,000, and they expect to rely on both super and a part Age Pension later in retirement. They want a simple, couple‑focused plan that helps them feel more confident about their path to retirement. 

  	Goals Together, Mark and Sophie want to agree on a clear retirement timeline and understand what a realistic target retirement income looks like for them. They also want guidance on whether to prioritise paying down their mortgage, how to boost their super in a tax‑effective way, how their investments may need to change as they get older, and what government support may be available later in life.
  	Considerations As they plan ahead, a few practical steps can help strengthen their retirement position. Increasing their contributions, through salary sacrifice, personal contributions or spouse strategies, may help grow their super while reducing tax. Reviewing their insurance and checking that their investment options still align with their long‑term goals could also keep their plan on track.   They may also want to weigh up the benefits of paying off the mortgage early, using an offset account, or even downsizing later to improve cashflow and financial security. When they turn 60, Mark and Sophie may wish to consider whether a Transition-to-Retirement (TTR) strategy may be applicable to their situation. Understanding when they might qualify for the Age Pension or a Commonwealth Seniors Health Card will help them plan and maximise their retirement income with greater confidence.
  	How Prime Super can help Prime Super can support Mark and Sophie through joint conversations with a super and retirement specialist at no additional cost to explore contribution strategies, insurance needs, investment options and TTR strategies as a couple. They can use our calculators to compare different scenarios, from boosting super to assessing mortgage or downsizing decisions, supported by clear explanations of investment options and government entitlements.   They can also access pre-retirement webinars, make use of the low-cost digital will service offered by our partner Willed, and be referred to specialist advice partners (at a cost) if they require more detailed tax, estate or financial planning support.

Alex

Age: 

62

Concern:

Managing early retirement investments and income 

Goals:

Set sustainable withdrawals, structure income, plan for milestones, estate planning 

Super balance:

$920,000

• Read Alex's journey

  Alex is 62 and has decided to retire early after a long career as a teacher. He owns his home and has $920,000 in super along with additional investments outside super. Because he’s retiring before age 67 and has a number of personal assets, he knows he’ll be fully self‑funded for several years before he may be able to access the Age Pension. He’s confident with financial decisions but wants practical guidance to help structure his income and make sure his savings last. 

  	Goals Alex wants to understand how much he can sustainably withdraw in early retirement and how to balance flexibility with long‑term income stability. He also wants clarity on how his investments should evolve as he moves from working to retired life, what to expect at key milestones like ages 65 and 67, and how his non‑super assets fit into his overall strategy. He also wants to ensure his estate planning and beneficiary nominations are current.
  	Considerations Moving his super into a retirement income stream can give Alex tax‑free income while keeping his super invested for growth. Reviewing his investment options, including whether to hold a cash buffer, can help him manage market ups and downs and unexpected expenses.   Because he is retiring early, planning ahead for financial and non-financial risks is important. When he approaches 67, he will also need to review his assets and income to understand if he may qualify for a part Age Pension, and if so, know when to apply without missing out on additional income.
  	How Prime Super can help Prime Super can support Alex through clear, jargon-free conversations with a super and retirement specialist at no additional cost to explain drawdown strategies, investment options and how to explain drawdown strategies, investment options and how a layered income approach could work for him.   He can use the Retirement Needs Calculator to estimate his expenses and test different income scenarios. Guidance in the Retirement Hub can help him plan for future milestones, including Age Pension eligibility. He can use our partner Retirement Essentials’ Age Pension eligibility calculator to help him understand if or when he may be eligible for the Age Pension.   Alex can also use our partner Willed’s digital will service for low-cost estate planning. If Alex has further, more complex needs, Prime Super can also refer him to a specialist financial advice partner (at a cost) for more complex tax, estate or structuring needs.