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Your money in retirement

Live well and make your money last longer in retirement

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Living longer means more life to enjoy. If you're retired, or planning to retire, here are some ways to help make your money go the distance.

Claim your government entitlements

You may be eligible for government benefits such as:

See Age Pension and government benefits.

Keep working, reduce hours or retrain

Continuing to earn an income, even part-time, can help your retirement savings last longer. If you want to keep working, options include:

Get senior concessions and discounts

Senior concession cards can give you discounts on things like public transport, prescriptions, health care, utility bills and insurance.

See concession cards for information on:

For money-saving tips, see simple ways to save money.

Consider downsizing or renting out space

Downsizing your home could free up money to pay off your mortgage or invest for your retirement. Or you could consider staying in your home and renting out a room or taking in a boarder.

Before going ahead with any of these options, check the tax impact and whether it will affect your government benefits. See downsizing in retirement.

Start volunteering

Staying active is good for your mental and physical health. Volunteering is one way of doing this — enriching your life and giving back to the community. It can also connect you to new friends with similar interests.

See Volunteer Australia's GoVolunteer website to find out more.

Get help with money if you need it