As you progress towards retirement age, the idea of reducing your working hours can be appealing, especially if you can do it without reducing your income. Fortunately, there is a way to do this. It’s called a Transition to Retirement Income Stream (TTRIS), which allows you to supplement your part-time income with regular payments from your superannuation savings.
The idea of downsizing can be very appealing to empty-nesters. There will be less cleaning, gardening and maintenance, more time for hobbies and travel, and the icing on the cake comes if you can use the cash surplus you created to give your super a significant tax-effective boost.
But is the picture totally rosy, or are there some drawbacks to downsizing?
One in six people will be over 65 years old by 2050. With the world’s population ageing quickly, it is natural to think about how pension systems around the world…
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