Planning Your Retirement: Why It Matters and How Forward Path Advisory Can Help You
If you’re reading this, you’ve already taken one of the most important first steps: thinking seriously about your retirement. Whether you’re 40, 50, or 60, planning ahead can make the difference between a retirement full of choices and freedom, or one full of financial stress.
At Forward Path Advisory, we help people just like you every day, people who want to understand how to prepare for retirement but are feeling overwhelmed or unsure where to start.
You might be asking:
- When should I start planning for retirement?
- What happens if I don’t plan early enough?
- How can planning ahead change my life?
In this guide, I’ll walk you through why retirement planning is so important, the biggest risks to avoid, and the key areas we focus on when we work with our clients. I’ll also share real data about what Australians are facing today, and how a good plan can make all the difference.
Why Plan Early for Retirement?
The old saying is true: “By failing to plan, you are preparing to fail.” When it comes to retirement, planning early isn’t just smart, but it’s a necessary.
Research by Aware Super (2025) found that 63% of Australians aged 45+ feel anxious about retirement, and almost 9 in 10 are worried they’ll run out of money. That’s a lot of people lying awake at night worrying about their future.
Similarly, Vanguard’s 2024 survey showed 80% of Australians believe there’s a strong chance they’ll outlive their retirement savings. This fear even has a name now: FORO- Fear of Running Out.
But here’s the good news: planning ahead can dramatically reduce that fear. At Forward Path Advisory, we help clients:
- Understand exactly how much money they’ll need
- Build a clear strategy for their lifestyle goals
- Invest smarter to protect their future
Lifestyle: What Does Retirement Look Like for You?
When I sit down with clients, the first thing I ask is:
- What does your ideal retirement look like?
Do you dream of travelling every year? Helping your kids buy their first home? Upgrading your car or caravan?
Writing down your “Top 10” retirement goals, and putting a rough cost next to each is the first step toward building a plan that fits your life, not someone else’s.
For example, many clients want to travel overseas heavily between 60–70, then settle down with family time in their 70s, and think about downsizing in their 80s. We plan for all of these stages together.
Budget: How Much Will You Need?
Budgeting is the backbone of retirement planning. We start by looking at your current expenses, then project what you’ll actually spend once you stop working.
The Association of Superannuation Funds of Australia (ASFA) says a “comfortable” retirement requires about $45,000 per year for a single person and $57,000 for couples (2022 figures).
We’ll work out:
- How much you’re spending now
- What expenses will disappear (like commuting costs)
- New expenses you’ll add (like travel or helping your kids)
We then invest accordingly to help you achieve them, while offering guidance every step of the way.
Stages of Retirement: Planning for Each Phase
Retirement isn’t one long holiday, it has stages:
- Early Retirement (60–70): Travel, big adventures, ticking things off your bucket list. Expenses are usually highest here.
- Mid Retirement (70–80): Slowing down, staying closer to home, more spending on health and family.
- Late Retirement (80+): Downsizing, focusing on healthcare needs, possibly entering aged care.
We tailor your investment strategy for each stage, keeping the money growing when it should, and safe when it needs to be.
Real Client Examples
Mary’s Story:
Mary came to us at 45 years old, worried she was behind. Together, we mapped out a simple plan: contribute an extra $100 per week into her super fund and keep her investments aligned with a growth focused strategy. Fast forward to her 60th birthday, Mary had accumulated nearly $150,000 more than if she hadn’t made those extra contributions! Today, she’s planning European adventures every second year, fully funded by the foundation we built early on.
David and Mike’s Story:
David and Mike, both in their 50s, realised they wanted to retire by 65 but hadn’t reviewed their super in years. Working together, we consolidated multiple super accounts, realigned their investments, and set up a “bucket strategy” to ensure they could fund their early retirement dreams while protecting their money from market downturns. They’re now looking forward to a comfortable and exciting retirement without fear.
Bonnie and Jenna’s Story:
Bonnie and Jenna, a couple in their mid-50s, were worried about helping their adult children buy homes without sacrificing their own retirement. We helped them balance generous financial support with maintaining their own long-term security. Today, they feel proud of helping their kids without losing their peace of mind and compromising on their retirement.
Risks You Need to Plan For
There are real risks retirees face, and Forward Path Advisory helps you navigate them:
- Longevity Risk: Australians are living longer, women to 87.8 years, men to 85. (ABS, 2023). You could easily live 25–30 years after retiring!
- Sequence Risk: If markets drop early in your retirement, it can hurt badly. We use smart “bucket strategies” to protect you.
- Inflation Risk: Costs keep rising. Healthcare costs, for example, are now 2–3 times higher for over-65s than younger Australians (AIHW, 2023).
- Family Dynamics: More parents are helping adult kids buy homes. Without careful planning, this can derail your retirement.
- Aged Care Costs: Aged care can cost $50,000+ a year. We help plan for this well in advance.
- Financial Abuse & Fraud: Scams against retirees are rising sharply. We help you set up the protections you need.
Why Work With Forward Path Advisory?
At Forward Path Advisory, we:
- Help you visualise your retirement lifestyle
- Calculate exactly how much you’ll need
- Invest your money wisely through every life stage
- Protect you against the real risks ahead
- Guide your family with estate and aged care planning
Most importantly, we walk the journey with you.
You’re not just getting “investment advice”, you’re getting a trusted partner who cares about your full life plan.
Final Thoughts: Plan Now, Live Better Later
It’s never too early or too late to start planning.
The earlier you start, the more freedom you create. But even if you’re already close to retirement, the right strategy now can still dramatically improve your quality of life.
Let’s talk. Let’s map it out. Let’s build the retirement you deserve.
Reach out to us at Forward Path Advisory, your future self will thank you.
