So you want to plan for an early retirement? Here’s the process
Whether you’re burnt out because it’s the end of the year in a stressful job, or you simply have a desire to spend more time with family, you may as well understand the steps to an early retirement.
In this edition
Course: Selling spots like hotcakes 🥞
Feature: So you want to plan for an early retirement? Here’s the process
From Bec’s Desk: Watching a giant wave of retirement crash on the Epic Retirement community
Prime Time: Why 'grandparents are the glitter glue' for families across Australia
The Autumn Flagship Course is now on sale
Our next course - The Autumn Edition - of the How to Have an Epic Retirement Flagship Course is selling like hotcakes. Its 25% off right now for Earlybirds but it won’t be at this price for long.
This is the first course for 2025 — and it kicks off on the 13th February. I can’t wait.
Want to learn more or download our NEW brochure? ➡️ Visit the website here to download a brochure ➡️ Book your place.
If you’re wondering whether it’s good - read the feedback from our Alumni.
"Excellent course! Recommended to me by a friend for which I am very grateful. I have already embarked on my retirement journey so only regret is that I didn't know about this sooner. However the content of the course was very comprehensive so there is still so much to think about and to work through. I am sure that it will help me to have an 'epic retirement'. :)" Lyn
"Completing this course was very useful to help guide me (and partner) through discussions we had perhaps skirted around before and focused me on topics I was avoiding. Helped us to be a LOT more prepared when going to a financial advisor for personal advice" Monica
This course has changed the way I think about the next twenty years. I am so excited by the potential of what I want to achieve in the future - as if I was a twenty-year-old again. Thank you Bec - your course has provided me with so much to think about and the resources to find all the answers to my queries. What a difference your course has made to my confidence and future happiness." -- Gail
That’s just the beginning! Download the brochure available on the website for more feedback and inspiration.
So you want to plan for an early retirement? Here’s the process
Early retirement is one of those big life goals that gets people dreaming.
Whether you’re burnt out because it’s the end of the year in a stressful job, or you simply have a desire to spend more time with family, or maybe you’ve got a vision of life outside the grind – in your Prime Time years – which so many in their 50s are starting to feel. Frankly, the idea of retiring early or shifting gears to an easier life can be exciting—but it needs some serious planning.
Early retirement comes with unique challenges. You’re dealing with more years to fund yourself through, less time to build up savings, and different rules about when you can access your super.
So, let’s dive into the key areas to consider when you want to think about making early retirement a reality.
1. Think about your official retirement first
Retiring early doesn’t mean you can skip the basics of long-term retirement planning. If anything, you need to think even more carefully about ensuring your money lasts—especially when you have decades ahead to fund your living and lifestyle ambitions through.
Many people who want to retire early get excessively focussed on building savings outside of super, but stop and think about it – that would have them neglecting the enormous tax advantages that super offers (and boy oh boy they’re good!). Here’s why that’s a mistake in my opinion.
We pay less tax when we contribute to super and we also pay less tax when our super generates income and returns. That means the earlier you get money into super and compounding for you, leveraging those lower tax rates, the bigger it will grow.
And, once we’ve retired officially, by reaching 60 and giving up work; or by accessing our super unconditionally at 65, we can withdraw our super tax free. This makes it one of the most efficient vehicles for funding retirement.
Your goal should be to build your super early and let time and compounding do their thing. Maximise concessional contributions (like salary sacrifice) and non-concessional contributions while you’re earning. Once you know your long-term retirement is covered, you can shift focus to what you’ll need to fill the gap in your Prime Time years – the years before you can access super and want flexibility.
2. Figure out how you’ll fill your gap - the years before you can get your super
Here’s the tricky part about early retirement: unless you’re past preservation age and meet the conditions of release, your super is off-limits. That means you need a plan to fund your ‘early retirement’ (or I prefer the term Prime Time) flexibility until you can access it.
You can fill the gap in two sensible ways – you can build a pot of money you can spend down; or you can build a sustainable investment portfolio that can provide you with a steady income.
Let’s consider both.
Build a pot of funds
If your plan is to head into a more flexible way of life (your Prime Time) at 55 you might want to focus on saving the amount you want to have in income, for the years you want to have it. So, if you need $70,000 per year, and you want to go 5 years early, then you’ll need 5 times $70,000. And it makes good sense to invest this conservatively, unless you’re ok with having to change your plans if the markets fall apart.
Build an investment portfolio
The other option is to build up an investment portfolio that’s designed to deliver a steady income through dividends and other distributions that won’t run dry before you hit preservation age of 60. This is a strategy that will need some careful planning - and maybe benefit from some advice to ensure you’re invested in the right kinds of investments for your goals.
And in either case, you’re going to need to be tax-savvy. Any income you earn outside super will be taxable, so minimising capital gains tax and managing your effective tax rate is crucial.
Short-term savings to spend down: If you’re retiring, say, five years before preservation age, you might focus on building a pot of money outside super that you plan to spend down completely. For example, if you need $50,000 a year, you’ll need $250,000 in accessible savings. To avoid market volatility, it’s a good idea to keep these funds in cash or low-risk investments.
A sustainable investment portfolio: Alternatively, you can build a portfolio designed to deliver steady income (think dividends or distributions) or withdrawals that won’t run out before you hit preservation age. This strategy requires careful planning to ensure your withdrawals align with your long-term needs.
Both approaches require you to think about tax. Income from investments outside super is taxable, so keeping your effective tax rate in mind is crucial.
3. Demolish your debts
If you’re serious about an early retirement, one of the most powerful things you can do is eliminate big, recurring expenses—starting with your mortgage.
Housing is usually the single biggest cost for Australians. Paying off your home before retirement doesn’t just give you peace of mind; it slashes the amount you need to fund your lifestyle. Without a mortgage, you need far less income, and every dollar you save on repayments is effectively tax-free and can be deployed towards savings or lifestyle.
For example, the average Australian mortgage costs around $3,900 a month. To cover this in early retirement, you’d need nearly $1.2 million in investments at a 4% withdrawal rate. Compare that to a mortgage-free lifestyle, and your income needs drop significantly.
It’s not just about the mortgage, either. Look at your broader expenses:
Can you downsize your home to free up equity?
Are there other big-ticket costs you can clear before you retire?
Reducing your expenses doesn’t mean giving up the good stuff; it’s about clearing the big hurdles so you can spend more on what you truly value.
4. Make flexibility your focus
Early retirement – or I still prefer to think about it as entering a period of life with greater choice and flexibility, our Prime Time – isn’t just about quitting your job—it’s about creating options. Whether it’s stepping back to part-time work, changing careers, or focusing on hobbies and passions, financial independence is all about choice.
The key to flexibility is building a solid foundation:
A well-funded super for long-term security.
A pot of funds that lets you live well before you reach preservation age.
Minimal debt and streamlined expenses for peace of mind.
When you focus on these three things, you’re not just planning for early retirement—you’re setting yourself up for a life that’s rich in freedom, purpose, and opportunity. You’re setting yourself up to have choices.
The first giant wave of Epic retirements has arrived! This year, The Epic Retirement Club has truly come alive as tens of thousands of people in our community use the year end to call ‘time’ on their retirement, and the excitement is electric. Our community is buzzing this week with so many of our members who joined throughout the year sharing their retirement photos, celebrating their workplace farewells, and wondering with anticipation about what lies ahead. We’ve welcomed so many new members too — as you spread the word about your epic retirements.
If you look around your own community, you might notice the same trend—so many people taking the leap into retirement in the lead-up to Christmas. It’s a time of reflection, celebration, and new beginnings this year, and it’s clear that the choice to retire has never felt more possible—or more exhilarating.
I’m so excited for each and every one of you! And if you’re still in the planning phase, I hope you watch with joy and inspiration, knowing that one day, this could be you stepping into your own Epic Retirement. If you want a bird-eye view of the excitement - simply pop into the Epic Retirement Club and say hi.
—
If you’re winding down for the Christmas season, I want to wish you a very Merry Christmas and a Happy New Year! I’ll still be around and will send out a few newsletters over the last days of December and the month of January. But, the podcast will take a short hiatus after this week’s episode and return mid-January. In the meantime, it’s a great chance to dive into the back catalogue if you haven’t already—most episodes are evergreen, packed with valuable lessons we can all learn from. This week’s with Dr Michael Carr-Gregg will put a smile on your face — it did mine.
The newspaper articles are off until the 12th January; the Epic Retirement Club on Facebook is going to go on pause from the 23rd Dec - 7th Jan too.
I’m going to spend Christmas and the summery weeks between my home and the beach, and in between swims and meals I’ll be working on the edit review of Prime Time and finishing the manuscript for the International edition of How to Have an Epic Retirement. It’s peaceful work and it’s interesting trying to piece together the ways people can best understand the choices they have. Then, once I hit the editing deadlines I’m taking a break.
To everyone who has been part of the Epic Retirement and Prime Time community this year, a heartfelt thank you. Your readership, support, and enthusiasm mean the world to me, and I feel truly grateful.
There are so many people to thank for making this year truly Epic! A special shoutout to the incredible community moderators of The Epic Retirement Club on Facebook—David, Stephen, Yvonne, Jillian, Robert, William, and Marcaus—you’re absolute legends! To Genevieve and Joe and the team at Nine Podcasts and the many wonderful guests we’ve had, you rock! To my editor at The Age and The Sydney Morning Herald apologies for so many words - what fun we’ve had! And my publisher Sophie - magnificent. To my course team - Nina, Alex and Brooke - amazing; and our expert guests Mark, Andrew, David, Jen, Fiona, Sue and Rowena - thankyou you’re superb! To our sponsors and supporters a huge thankyou - we couldn’t do it without you. And, of course, a huge thank you to everyone who shared the Epic message and helped others find their way to this community. You’ve made it all the more special!
I’m lucky enough to do what I love because you enjoy and benefit from it—and I never take for granted the importance of keeping it useful, entertaining, and interesting for you.
So, as summer in Australia rolls in, take the time to soak it all up. Talk to your loved ones about your dreams, goals, and hopes for the future. Then, start turning those conversations into plans for 2025—because there’s no better time to bring your vision to life! And if this year marks your retirement - enjoy the transition and embrace it for what it is — change can be both exciting and terrifying all at once.
I’m here to help. Don’t hesitate to write me a letter at bec@epicretirement.com.au. Merry Christmas and Happy Holidays.
Many thanks! Bec Wilson
Author, podcast host, columnist, retirement educator, and guest speaker
Why 'grandparents are the glitter glue' for families across Australia
We learn the recipe for building a great relationship with your grandchildren right from the start
In this episode, I’m joined by one of Australia’s most trusted psychologists, Dr Michael Carr-Gregg. He’s a renowned expert on mental health and families, the author of 18 books, and a familiar voice as a broadcaster. Today, we’re diving into an exciting and quickly-evolving topic: grandparenting in the modern world.
Many of our Prime Timers are approaching this pivotal stage of life or early in their grandparenting years and are trying to navigate their role carefully. But the role of a grandparent isn’t what it used to be—it’s more dynamic, complex, and meaningful than ever before. In fact Dr Carr-Gregg says that grandparents are the ‘glitter glue’ for Australian families.
Dr Carr-Gregg’s latest book, Grandparents: A Practical Guide to Navigating Grandparenting Today, is packed with invaluable insights. On the show, he shares the big lessons every modern grandparent needs to know—including his recipe for building a great relationship with your grandchildren right from the start.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
The little book that could!
Last of all, We’re finishing the year with How to Have an Epic Retirement as the #3 best selling self help book in Australia by an Aussie author for 2025! If you haven’t read the book - well, you’ll probably find it’s sold out in stores like Big W and Dymocks who usually stock it (do have a look - you might find one!). You can order your copy from Amazon online. Or you can ask a bookstore to order it in.
I have a few copies in my little online store - if you want them sent by Express Post. The last Australia Post window is 16th December.