Debt-free by retirement · Pakenham
Retire with the debt behind you.
Carrying debt into retirement quietly raises the bar — you need more savings, and more income, just to stand still. Clear it first, to a plan, and retirement gets simpler, cheaper and a good deal calmer. It's one of the most overlooked moves in retirement planning, and one we feel strongly about.
Why it matters
Less debt, the less you need to retire
Every dollar of debt in retirement is a dollar of income you have to find before you've spent a cent on living. Clear the debt, and the number you need to retire on comes down: your savings stretch further, and the money that was servicing a loan becomes money you can actually live on.
It also takes the pressure off in the years when markets wobble. With no repayments hanging over you, you're not forced to sell investments at the wrong moment just to cover them. Fewer bills, fewer worries, more of your money doing what you want it to.
How we go about it
A plan, not a crash diet
A clear target date
We start from when you'd like to retire and work backwards, so the plan fits the timeframe you actually have — realistic and achievable, not a vague someday.
A sensible order
Debts paid down in the order that does the most good, step by step, within what you can comfortably afford — built around your real income and your real life, so it's a plan you keep up and finish, not one that runs out of steam.
Tax-effective, and early
We use the tax concessions super offers to free up tax savings — then put those savings to work paying your debt down, across several financial years rather than one. It's a big reason starting early matters: the sooner you begin, the more those savings can do.
Run the numbers yourself
Calculators and a course, on our sister site
We've built calculators and a step-by-step course on exactly this topic over at retirementcalculators.com.au. Map out your own payoff timeline, see what clearing the debt does to your retirement date, and work through it at your own pace.
Debt-free calculators See the course
And when you'd like a hand applying it to your own circumstances, that's exactly what we're here for.
Common questions
The things people ask
Should I pay off my mortgage before I retire?
For many people, clearing the mortgage first means less stress and less capital needed to retire comfortably. But it does depend on your full picture — the right order and timing is what we help you work out. (This is general information, not personal advice.)
What if I can't clear all my debt in time?
Even reducing it makes a real difference to what you need and how relaxed retirement feels. We work to a realistic plan within your timeframe and resources — progress, not perfection.
Is it ever worth keeping some debt into retirement?
Sometimes your circumstances point that way, and that's fine. The aim isn't a rule that suits everyone — it's the right answer for you, with eyes open to what the debt costs you.
Picture retirement with no debt behind it
Book a complimentary, no-obligation 15-minute phone chat and we'll talk through where your debt sits and what a plan might look like. We'll quote any fees up front, so you know exactly where you stand. (It's general information, not personal advice.)
Book your chatOr call us on (03) 5941 5955 · Mon–Thu, 8:30am–5:00pm
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