Having enough money will always be a critical part of Retirement Planning. But there are other important issues which will determine how people enter retirement, including:
- Why they retired and whether they had choice and control
- Their relationships and social network
- The state of their health
- Whether they have an identity outside work, and
- Their expectations, and emotional resources for coping with change.
For too long Retirement Planning has been synonymous with financial planning. It’s time to broaden the conversation. Super Funds that want to help their members achieve their best outcomes in retirement need to do more. They need to educate and equip members across key topics that will shape their experience of retirement. This will allow members to enjoy the Super balance they have worked hard for.