Frequently Asked Questions About Retirement & Wealth
Explore expert answers from Lincoln Wealth Advisers in Adelaide. Get clear insights on Frequently Asked Questions About Retirement & Wealth, superannuation balances, Centrelink Age Pension thresholds, retirement planning gaps, and financial advisory fees. Make an appointmentSuperannuation & Retirement Income FAQ’s
How much super do I need to retire comfortably in Adelaide?
The ASFA Retirement Standard puts a “comfortable” retirement at roughly $55,900 a year for a single person and $78,900 for a couple (current figures, homeowners).
To fund that from your own super without relying on the Age Pension, you generally need a balance in the $600,000–$750,000+ range, depending on your age at retirement, investment returns, and whether the Age Pension will supplement your income later.
We model your actual numbers rather than relying on averages, because your comfortable is not the same as the next person’s.
Can I retire at 60, or do I have to wait until 67?
You can access your super from age 60 if you’ve reached your preservation age and stopped working (or under transition-to-retirement rules while still working).
The Age Pension, however, doesn’t start until age 67. That creates a funding gap of up to seven years that needs to come entirely from your own super or savings — this is one of the most common retirement planning mistakes we see, and it’s very fixable with the right drawdown strategy.
What happens to my super when I retire — do I have to take it all out?
No. Most retirees convert their super into an account-based pension, which keeps the money invested and pays you a regular income (with a minimum annual drawdown percentage set by the government, based on your age).
This is usually far more tax-effective than withdrawing a lump sum, since earnings and pension payments from super are generally tax-free once you’re over 60.
What's the difference between an account-based pension and an annuity?
An account-based pension keeps your money invested and flexible — you control the drawdown rate (above the minimum) and it can run out if markets underperform or you draw down too fast.
An annuity trades a lump sum for a guaranteed income, often for life, but with less flexibility and access to capital. Most retirees use a mix of both to balance flexibility with certainty — we’ll walk you through which blend suits your situation.
Age Pension & Centrelink
Am I eligible for the Age Pension if I own my home and have superannuation?
It depends on the value of your assessable assets (which excludes your home) and your income, assessed under Centrelink’s asset test and income test — whichever gives the lower entitlement applies.
As a general guide, a single homeowner can hold assets up to the mid-$700,000s and still receive a part pension; couples (combined) up to roughly $1.1–1.3 million.
Thresholds are indexed and change in March, July and September each year, so it’s worth having your position checked regularly rather than assuming last year’s numbers still apply.
How does Centrelink treat my super once I retire?
Once you reach Age Pension age, super in an account-based pension counts as a financial asset and is assessed under deeming rules — Centrelink assumes it earns a set rate of return regardless of what it actually earns.
This affects both the income test and, in some cases, aged care fees. Getting the deeming and asset-test interaction right can make a real difference to your fortnightly payment.
Can I get a part Age Pension even if I think I have "too much" super?
Often, yes. A large number of people who assume they’re ineligible are actually entitled to a part pension, which also unlocks a Pensioner Concession Card and other benefits (cheaper prescriptions, utility concessions, and more).
It’s worth checking your eligibility properly rather than ruling yourself out — we see this missed opportunity constantly.
What's the difference between the Age Pension asset test and the income test?
Centrelink runs both tests and pays you based on whichever result is lower. The assets test looks at what you own (excluding your home); the income test looks at what you earn from super, investments, work and other sources (using deeming for financial assets).
Your actual pension amount is decided by whichever test cuts you back the most — so managing both, not just one, matters.
Working With a Financial Adviser
Do I need a financial adviser, or can I manage retirement planning myself?
You can, but retirement planning brings together super rules, Centrelink means-testing, tax, aged care thresholds and investment risk — all of which move every year.
A comprehensive retirement plan looks at all of these together, rather than optimising one piece (say, your super) in isolation.
Many self-managed retirees miss opportunities simply because they didn’t know a rule existed, not because they made a bad decision with the information they had.
What's the difference between a financial adviser and an accountant for retirement planning?
An accountant focuses on tax compliance and reporting. A financial adviser focuses on the bigger picture — your income strategy, investment risk, Centrelink position, and how long your money needs to last.
The two roles complement each other; you generally need both, working from the same plan.
How much does financial advice cost in Adelaide in 2026?
Typical market ranges: a comprehensive Statement of Advice runs roughly $3,300–$6,600; single-issue advice (e.g., just Centrelink or just income protection) is around $1,500–$2,500; ongoing annual advice ranges from about $1,650–$9,900 depending on complexity; and hourly consultations sit around $300–$600/hour.
Always ask for a written fee disclosure before engaging anyone — we provide this upfront, with no hidden charges.
Is Lincoln Wealth Advisers independent, or tied to a super fund or bank?
We’re a privately owned Adelaide practice — not owned by or tied to a particular superannuation fund.
Australian regulations restrict the use of the word “independent” for firms that receive any product-related payments, so we don’t use that label loosely, but our advice is built around your goals, not around selling a house-brand product.
How do I know if a financial adviser is legitimate and properly licensed?
Check they’re listed on ASIC’s Financial Advisers Register and operating under a current Australian Financial Services Licence (AFSL).
Nasser Zreika and Lincoln Wealth Advisers operate as authorised representatives of Synchron (AFSL 243313) — you can verify this directly on the ASIC register, and we’re happy to provide our Financial Services Guide and Adviser Profile before your first meeting.
our people
Nasser Zreika
Director, Senior Financial Adviser, BEc AdvDFP
Nasser has been in the financial services industry since 1997, and in Financial Planning since 2000. Based in Adelaide, he specialises in retirement planning, superannuation, Centrelink and aged pension advice, investments and income protection.
His passion is understanding his client’s wants and needs, and building a long term relationship with them to see them through life’s ups and downs.
Away from work Nasser loves travelling with his wife and young twins. He’s also an avid guitarist and mountain biker.
Contact Us
Thank you for your interest in Lincoln Wealth Advisers.
To get started with your financial planning needs please contact us.
Lincoln Wealth Advisers — Financial Adviser Wayville SA
65 Goodwood Road, Wayville SA 5034
Serving clients across Wayville, Goodwood, Unley, Clarence Gardens, Adelaide CBD and surrounding areas.
nasser@lincolnwealth.com.au 0412 331 867
The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Also view our ASIC registration