When Should I Start Planning for Retirement?

It’s one of the most common questions we hear: “When should I start planning for retirement?”

And the honest answer is this: as early as possible. But if you haven’t started yet—don’t worry. The next best time is now.

Retirement planning isn’t just about super balances or pensions. It’s about understanding how your money will support your lifestyle once work becomes optional. Whether you’re in your 30s or your 60s, there are steps you can take to prepare—and the earlier you start, the more flexibility and control you’ll have down the track.

Your 20s and 30s: Lay the Foundations

You may not be thinking about retirement yet—and that’s completely normal. But this is the time when small decisions can make a big impact later on.

Things to consider:

• Make sure your super is consolidated (if you’ve had multiple jobs)
• Choose an investment option in your fund that matches your long-term goals
• Get into the habit of saving regularly, even if it’s a small amount 
• Consider salary sacrificing into super if your budget allows 

Why it matters: The power of compound growth means the earlier you invest—even modest amounts—the better off you’ll be later.

Your 40s and 50s: Get Strategic

This is the stage where retirement starts to feel real, even if it’s still 10 or 20 years away. You might have a mortgage, school fees, or business obligations—but it’s also the time to start getting serious about your future.

What to focus on:

• Boosting your super contributions through salary sacrifice or personal contributions 
• Paying down high-interest debt so more of your income can go toward wealth-building 
• Reviewing your investment strategy inside and outside of super 
• Making sure your personal insurance still suits your needs 
• Thinking about when and how you’d like to retire 

Why it matters: You still have time to adjust course if needed. This is often a good time to check whether you’re on track—and get advice if you’re not sure.

Your 60s and Beyond: Make It Work for You

For many, the final years before retirement bring a mix of excitement and uncertainty. This is when detailed planning becomes essential.

Key questions to answer:

• Do you have enough to retire comfortably? 
• When will you access your super, and how? 
• Will you be eligible for the Age Pension? 
• What’s the best way to draw income in retirement? 
• Are there any tax considerations to manage? 
• Have you thought about healthcare, aged care, or estate planning? 

Why it matters: Retirement is more than stopping work. It’s about ensuring your income is sustainable, flexible, and aligned with your lifestyle.

The Earlier You Start, the More Options You’ll Have

The main advantage of early planning is choice. Choice in how you invest, when you retire, whether you downsize, or how you structure your income. Even small actions taken earlier can give you more financial freedom later.

But if you’re reading this and you’re already into your 50s or 60s—don’t panic. There are still smart, effective ways to prepare. You may just need to be more focused and deliberate in your approach.

How We Can Help

At Just Advice Financial Planning, we help people plan for retirement—no matter where they’re starting from. We provide clear, honest guidance that’s tailored to your situation, not someone else’s idea of “ideal”. Whether you want a quick check-in or a detailed plan, we’re here to help you move forward with confidence.

Ready to take the next step?
Book a free chat today and get clarity on where you stand—and where you’re headed.