What does retirement planning actually involve?
Retirement planning is not a single conversation — it's an ongoing strategy. At Lincoln Wealth Advisers, we look at all of these together. No one piece works in isolation.
Superannuation
How much you have, how much you need, and how to grow it before you stop working.
Income streams
How to convert your super into regular income in the most tax-efficient way.
Centrelink & aged pension
Understanding your entitlements and structuring assets to maximise them.
Tax planning
Minimising tax before and during retirement so more of your money stays yours.
Investments
Balancing growth and security as you approach and enter retirement.
Income protection
Ensuring unexpected health events don't derail your plans before you get there.
The retirement questions Australians aged 50+ are asking right now
Yes — but it requires careful planning. The superannuation preservation age is 60 for anyone born after 1 July 1964. Withdrawals from a taxed super fund at age 60+ are tax-free once you meet a condition of release.
The Age Pension gap: The Age Pension is not available until age 67. If you retire at 60, you'll need to fund seven years of living expenses from your own savings before Centrelink kicks in.
According to the ASFA Retirement Standard (February 2026), a comfortable retirement for a single homeowner requires approximately $630,000 in super at age 67, and for a couple, approximately $730,000. Retiring at 60 pushes those numbers higher.
| Age | What you can do |
|---|---|
| 60 (born after 1 July 1964) | Access super tax-free after retiring or leaving an employer |
| 60–64 | Start a Transition to Retirement (TTR) income stream while still working |
| 65 | Access super unconditionally, whether retired or still working |
| 67 | Eligible to apply for the Age Pension (subject to means testing) |
The right time to retire is different for everyone. A retirement plan helps you choose the moment — rather than just falling into it.
| Lifestyle | Single (per year) | Couple (per year) |
|---|---|---|
| Comfortable | $54,840 | $77,375 |
| Modest | $35,199 | $50,866 |
ASFA estimates you need approximately $630,000 (single) or $730,000 (couple) in super at age 67. These are benchmarks — not your personal number. At Lincoln Wealth Advisers, we build a retirement income model tailored to your actual life.
A TTR income stream lets you start drawing on your super once you reach preservation age (60 for most people), even while you're still working.
- Reduce working hours without a pay cut, using super drawdowns to top up your income
- Boost your super balance by salary sacrificing more into super while drawing an income stream to maintain take-home pay
- Reduce tax because income from a TTR pension may be taxed more favourably than salary income
Salary sacrifice means redirecting a portion of your pre-tax salary into super. Those contributions are taxed at 15% instead of your marginal rate — which for most Australians aged 50+ is 32.5% to 47%.
Example: Earn $90,000 and salary sacrifice $10,000 into super.
You save the difference between 34.5% (including Medicare) and 15% — a tax saving of approximately $1,950 per year, while growing your retirement savings.
In 2025–26, the concessional contributions cap is $30,000 per year, including employer contributions.
- Salary sacrifice — redirect pre-tax income into super at the concessional tax rate of 15%
- After-tax (non-concessional) contributions — contribute up to $120,000 per year, or $360,000 over three years using the bring-forward rule
- Spouse contributions — if your spouse earns less than $40,000, contributing to their super may qualify you for a tax offset of up to $540
- Downsizer contributions — aged 55+, sell your home, contribute up to $300,000 (or $600,000 for a couple) outside standard caps
- Catch-up contributions — if your total super balance is under $500,000, carry forward unused concessional cap amounts from the previous five years
What are my income stream options in retirement?
When you retire, you need to decide how to convert your super savings into regular income. Most retirees use a combination of an account-based pension and the Age Pension.
Account-based pension
Your super moves into a pension account; you draw a regular income. Investment earnings within the pension account are tax-free.
Annuity
A guaranteed income product where you exchange a lump sum for regular payments for a fixed period or for life.
Lump sum withdrawal
You can take your super as a lump sum, but this requires careful tax and Centrelink planning.
How does the Age Pension work in Australia?
The Age Pension is available to Australians aged 67 and over who meet residency requirements and pass the means test. The assets test and income test both apply — the one resulting in the lower payment is the one Centrelink uses.
Even a partial Age Pension is worth receiving — it also comes with the Pensioner Concession Card, providing significant savings on health, rates, and utilities.
How can I reduce tax before I retire?
The years immediately before retirement are often the highest-opportunity window for tax planning.
Salary sacrifice
Reduce taxable income and grow super at the lower 15% tax rate.
Contribution timing
Maximise tax benefit within contribution caps each financial year.
TTR income stream
Restructure income at a lower tax rate while still employed.
Capital gains timing
Manage when investment assets are sold to minimise CGT.
Spouse splitting
Contribute to a lower-income spouse's super to reduce combined tax.
Tax-effective structures
Appropriate investment structures for assets held outside super.
Why choose us for retirement planning in Adelaide?
Experience you can trust
Nasser Zreika has been providing retirement and financial planning advice since 2000. He specialises in superannuation, retirement income, Centrelink, and tax planning for Australians in their 50s and 60s.
Independent advice
Lincoln Wealth Advisers is a privately owned practice, authorised by Synchron (AFSL 243313). Our advice is always centred on what is right for you — not what earns the highest commission.
A long-term relationship
Retirement planning is not a one-time event. Life changes — legislation changes, markets move, health and family circumstances shift. Nasser builds lasting relationships with his clients.
What our clients say
Nasser makes me feel at ease each time we meet. He is always well prepared, and he always gives me options to consider and seems to have my best interest at heart.
My wife and I are very happy with Nasser indeed. He explains everything very well to us and is very patient. We are extremely happy with his service.
Nasser gives comprehensive explanations to any queries we may have and has provided information on alternative products to ensure we have the right fit. We have confidence in the advice Nasser provides.
Serving clients across Adelaide and surrounds
Based at 65 Goodwood Road, Wayville SA 5034. We also work with clients across South Australia via phone and video appointments.
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Lincoln Wealth Advisers
65 Goodwood Road, Wayville SA 5034
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Wayville, Goodwood, Unley, Clarence Gardens, Adelaide CBD and all of South Australia.