Coffee with my older self — about retirement

And in today's newspapers, 'The promises that could determine the next federal election'

In this edition

Feature: Coffee with my older self — about retirement

From Bec’s Desk: Another great week

SMH/TheAge: The promises that could determine the next federal election

Prime Time: Are we spending our super all wrong?

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Coffee with my older self — about retirement

Source: Made with AI using Dall-E

Today we’re going to have some fun. There’s a trend on TikTok right now called "Coffee with My Younger Self", where people sit across from an imagined version of their younger self and compare what they thought was important with what actually mattered as they got older. It’s a mix of nostalgia, reflection, and the kind of wisdom that only time can bring. The trend originally started with a poem by Jennae Cecelia, though most people recreating it don’t realise that.

And it got me thinking.

What if we flipped it?

What if instead of meeting our younger selves for coffee, we met our older, retired selves and got advice (and maybe a well-earned kick up the bum)? What if future us sat across the table, stirring their coffee, watching us go through life with all our current assumptions, optimism, and blind spots? Would they be nodding in approval? Raising an eyebrow? Struggling not to choke on their flat white?

Here’s what I imagine future me (or maybe future you) might be thinking. What do you think yours would say? Drop your thoughts in the comments.

1. “You’ve got less time than you think—sort it out now.”

A lot of people in their 50s and 60s assume they’ve got plenty of time to figure things out—retirement planning, super, debt, lifestyle choices. But ask any retiree, and they’ll tell you the years go faster than you expect. Future you would probably say, “Stop waiting. Make some moves now. Get your house in order. Make some plans. Start to dream, save and budget.” Whether that’s finally checking your super balance, working out how much you really need to retire, or deciding what you want this next phase of life to look like—it’s time.

2. “You should have tested retirement before going all in.”

Retirement isn’t a switch you flip—it’s a transition. A lot of people assume they’ll just work full-time one day and be fully retired the next, but that can feel like hitting a brick wall. Future you might suggest a test run—scaling back work, trying a part-time role, or taking a long break or sabbatical to see what retirement actually feels like before making any big decisions. You don’t know what you don’t know, and testing things out could save you from diving into a lifestyle that doesn’t actually suit you.

3. “You worried too much about your money—and not enough about your health.”

Most people in their 50s and 60s stress about whether they have enough money to retire, but future you might say, “Mate, you should have looked after yourself first.” Because what’s the point of having financial security if you’re too unfit, unwell, or exhausted to enjoy it? Investing in your healthspan—staying strong, mobile, and healthy—is just as important as investing in your wealthspan.

4. “You should have spent more on experiences, less on stuff.”

It’s easy to get caught up in buying things—home renovations, new cars, expensive furniture and fancy jeans—but future you might roll their eyes and say, “That new kitchen didn’t change your life, but the trip to Italy did.” Research shows we get more long-term happiness from experiences than from things. So maybe it’s time to rethink what’s actually worth spending on.

5. “Retirement isn’t what you think it is.”

A lot of people picture retirement as either endless leisure or financial doom, but in reality, it’s neither. Future you might say, “Why did you assume you had to follow the old script?” You don’t have to stop working completely at 65 if you don’t want to. You also don’t have to stay in a job you hate just to hit some magic number. More and more people are shaping retirement in their own way—part-time work, passion projects, sabbaticals, reinvention. You get to decide what this phase of life looks like.

So, what would future you say?

Let’s call it “Coffee with my older self” and let’s do it in the comments. But here’s the thing—most of us already know what future us would say. The real question is, what are we going to do about it now?

If future you sat down for coffee with you today, what advice would they give? And are you ready to listen?

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Another great week of 2025 - I hope yours are as fun as mine.

The first How to Have an Epic Retirement Flagship Course of the year kicked off with gusto. And our first live event is held on Monday evening this week. I’m excited. Everyone’s chatting in the chatroom warmly, and when the lessons dropped on Thursday they dove into them - and by Saturday some have finished the week’s content and are already saying how much calmer they feel about retirement! If you’re keen to lock in for the course last minute, you can still book in before our first event. The course kicked off on February 13 and runs for six weeks. More details are on our website here. Otherwise we’ll be holding another in April.

You might have seen a bit of public tit-for-tat between the team at the Grattan Institute and myself over an article I wrote a few weeks ago. Never one to shy away from learning, I invited them onto the Prime Time podcast this week to clear the air and explain their big call on why they think people should be encouraged to invest up to 80% of their super balances over $250k into lifetime annuities and why the government should get into the industry. If you haven’t already listened - be sure to make some time to.

This week I’ve been bowled over with exciting opportunities to speak. It’s going to keep me pleasantly busy educating in the months to come. When you can come along - I’ll let you know. And if you’re looking for a speaker - please consider me.

And finally, with election mode kicking in, I’m watching closely to see which party (or parties) will actually deliver for modern retirees and pre-retirees - about 50% of voters! There are a lot of problems that could turn into excellent election promises—if we’re loud enough. So I’ve offered my thoughts about where they could focus in the newspapers this weekend. Feel free to jump in with your comments and suggestions too.

Always remember you can always email me simply by replying to this email. I love it when you tip me off on things that I can help with or reply with insights.

Many thanks! Bec Wilson

Author, podcast host, columnist, retirement educator, and guest speaker

The promises that could determine the next federal election

Extract of article published in print in The Age, The Sydney Morning Herald, Brisbane Times, WA Today on Sunday 16th February 2025.

About 50 per cent of Australia’s electorate is now aged 50 and over, so retirement-related issues are no longer a side note – they’re a deciding factor.

Superannuation, the age pension, housing, healthcare and the cost of living are all on the table. The choices made in this election will shape the future for millions of Australians in their 50s and beyond.

If I were a politician staring down an electorate for whom retirement feels confusing, challenging and overwhelming, I’d be making some big promises to fix it. To help both sides prepare, here is a wish list of the issues on which many over-50s want headway (even as an apolitical voice serving older Australians, I include myself).

Think of it as a pick-list for politicians of pre-election promises they might like to make. You can add your own or debate them in the comments.

Guarantee stability in superannuation tax rules

Superannuation is supposed to provide certainty for retirement, but constant rule changes make it hard for Australians to plan ahead. The current government’s proposed tax on super balances over $3 million has stalled in the Senate, but tax changes in super are rarely off the table.

New governments tweak the system every few years, making long-term financial planning almost impossible. Instead of treating super as a political football, a progressive government could commit to a 10-year (or longer) moratorium on major super tax changes. Retirees and pre-retirees need confidence that the rules won’t keep shifting under them.

Make financial advice cheaper and more accessible

Australia’s financial system is complex, confusing and full of fine print, yet most people are expected to navigate retirement planning on their own. Professional financial advice can make a huge difference, but for many retirees this is simply too expensive.

This article continues — Read on, in The Age, The Sydney Morning Herald, Brisbane Times and WA Today.

Are we spending our super all wrong

This conversation began as a back-and-forth debate between the Grattan team and myself in the papers after Grattan’s latest report “Annuities would take the stress out of retirement”. It pointed out something we all agree on—Australia’s retirement system is too complex. Retirees are left stressed, uncertain, and lacking the confidence to actually spend their super. But the recommendations Grattan made were controversial indeed. (Have a read of my article here).

In this episode, I chat with Joey Maloney, Deputy Programme Director at the Grattan Institute’s Housing and Economic Security Programme, about the retirement system, how annuities work, and their bold suggestions that the government should encourage people to invest up to 80% of their super balances over $250,000 in lifetime annuities and that the government should provide them.

We also take an interesting look into lifetime annuities—how they work, how they’ve changed and why Grattan is calling for stronger guidance toward annuitisation to help retirees spend with confidence while securing their future.

This one gets a bit technical, but if you’re in your 50s or beyond, it’s essential listening. We break down the jargon, explain your options, and explore what needs to change to make retirement spending simpler, smarter, and less stressful.

LISTEN TO THIS EPISODE OF THE PODCAST HERE:

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• LISTEN ON SPOTIFY

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Last of all, if you haven’t read the book, you can order your copy from Amazon online. Or pick up a copy at your local Dymocks, or QBD stores. And if your bookstore doesn’t have it - ask them to get it in.

I have a little online store where you can purchase signed copies too.