It all starts with a conversation
It’s time to stop treading water and build confidence with a better performing business.
23 Hamilton St,
Subiaco WA 6008
It’s time to stop treading water and build confidence with a better performing business.
23 Hamilton St,
Subiaco WA 6008
What if the date you choose to stop working has almost nothing to do with the date you can actually access your wealth? For many Australian business owners and FIFO workers, the decision to retire at age 60, 65, or 67 feels like a gamble against complex government regulations. You’ve spent years building a legacy or enduring a demanding roster, yet the fear of running out of money or being trapped by preservation age rules can make you feel stuck. It’s a common struggle, and it’s one that deserves a clear, strategic resolution.
We understand that you want more than just a date on a calendar; you want the certainty that your lifestyle is fully funded. In this guide, we’ll bridge the gap between stopping work and unlocking your superannuation or the Age Pension. You will discover a clear timeline for your transition, a plan to exit your business or FIFO role, and the strategic steps needed to ensure your wealth supports you through 2026 and beyond.
The information provided in this article is for general purposes only. It’s essential to always seek professional advice by speaking to a registered professional to discuss your unique circumstances.
This content is provided for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
For many professionals in Subiaco or FIFO workers on a grueling roster, the decision to retire at age 60, 65, or 67 often feels like waiting for permission from a government department. It is time to reframe that thinking. Retirement isn’t a single event dictated by a birthday or a calendar date. It’s actually two distinct transitions: the day you choose to stop working and the day you can legally access your wealth. In 2026, economic shifts and new tax regulations mean that relying on a traditional “exit age” is no longer a viable strategy for those who want to maintain a high-quality lifestyle.
We often see high-earning individuals who feel they are treading water despite their significant incomes. The pressure of maintaining a certain lifestyle, combined with the complexities of business ownership or the isolation of FIFO life, can lead to a sense of stagnation. You might be earning well, but if that income isn’t being converted into accessible wealth, you’re stuck in the operational grind. A successful retirement is defined by your personal goals, not by reaching a specific age. It’s about having the financial certainty to say “enough” whenever you choose.
You can choose to retire at age 60 or even 50 if you have enough private wealth to fund your life. The confusion usually stems from what the government calls a “Condition of Release.” In simple terms, this is the legal “key” that unlocks your superannuation. For most people, this key becomes available when they reach their preservation age and retire, or when they turn 65. However, your work exit doesn’t have to wait for these dates. By building assets outside of Australia’s superannuation system, you create a financial bridge. Our private wealth advisors specialize in separating your work exit from your fund access, ensuring you aren’t held hostage by legislation.
The idea of a fixed retirement age is becoming a thing of the past in Western Australia. Modern retirement is flexible and often happens in stages. Many business owners are moving toward “consulting years” or semi-retirement rather than a hard stop. This allows for a smoother transition from the operational confusion of running a company to the clarity of a funded lifestyle. You don’t have to switch off your career entirely on your 65th birthday. Instead, you can design a plan that lets you buy back your time while your assets continue to grow.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
The gap between age 60 and 67 is what we often call the “transition zone.” It’s a critical seven-year window where you might have already stepped away from your business or FIFO role but aren’t yet eligible for government support. For many Australians, the goal isn’t just to retire at age 60; it’s to do so with the absolute certainty that their private wealth can bridge this gap without compromising their long-term lifestyle. Understanding how these two milestones interact is the first step toward moving away from operational confusion and toward a structured, calm retirement.
Your preservation age is the earliest point at which you can legally access your superannuation. For almost everyone planning their exit in 2026, that age is 60. While you might be ready to retire at age 67 to align with the pension, many of our clients prefer the flexibility of an earlier exit. You don’t necessarily have to stop working entirely to begin accessing your funds. A Transition to Retirement (TTR) strategy allows you to draw a pension while you’re still employed, which can be a highly effective way to manage your income. However, be cautious. Accessing super before 60 can lead to higher tax liabilities, and the 2026 tax rates on withdrawals require a proactive strategy to protect your capital.
The Age Pension age is currently 67. For a successful business owner, this should be viewed as a safety net rather than a target. Your eligibility is determined by both an assets test and an income test, which are updated every March and September. As of March 2026, the full pension for a single person is $1,200.90 per fortnight. Many professionals find that their assets exceed the limits for a full payment, making self-funding essential. Checking your Age Pension eligibility early helps you understand the “gap” you need to fill with private investments.
This is where self-managed super funds (SMSFs) offer a distinct advantage. They provide the control needed to manage your transfer balance cap, which as of 1 July 2026, sits at $2.1 million. If you’re feeling stuck between these milestones, exploring our wealth management services can help you design a timeline that works for your life, not just the government’s schedule.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
In Western Australia, the path to financial freedom often looks different than the standard corporate trajectory. For those working in the Subiaco business hub or flying out to the Pilbara, the decision to retire at age 60 or earlier isn’t just about a career end; it’s about a strategic life shift. You aren’t just looking for a gold watch and a pension. You’re looking to buy back your time and ensure that the years of sacrifice—whether in the office or on a mine site—translate into absolute financial certainty.
The challenge for many in these high-stakes roles is that their wealth is often “trapped.” For a business owner, the company is usually their largest asset, but it lacks liquidity. For a FIFO worker, the high income is consistent, but it’s often tied to a lifestyle that requires that very same income to maintain. Moving from operational confusion to a defined retirement solution requires a plan that looks beyond the standard superannuation milestones we discussed earlier.
FIFO workers often target an earlier retirement age because the physical and emotional toll of the roster is significant. The goal here is rarely to reach 67 on a mine site. Instead, the strategy focuses on using those high-income years to build wealth outside of the superannuation environment. This “outside-super” wealth is what allows you to bridge the gap if you choose to exit the industry at 55 or 60. By focusing on debt reduction and diversified investments now, you can plan your exit from the mines before burnout hits. For a deeper look at the tactical steps involved, our FIFO and Financial Freedom guide provides a comprehensive roadmap for WA residents.
If you own a business, your retirement age is often tethered to your succession plan. Many owners mistakenly believe they must wait until they are 65 to sell, but waiting too long can actually diminish the value of the asset. Selling at age 55 or 60 might be a far better strategic move. This early exit allows you to utilize the Small Business CGT (Capital Gains Tax) concessions, which can significantly reduce the tax burden of a sale, potentially funneling millions into your retirement fund tax-free.
Ensuring your business is “sale-ready” is the ultimate catalyst for retirement. It moves your wealth from an operational risk to a diversified portfolio. When your business can run without your daily involvement, it becomes a valuable asset that funds your retirement gap, allowing you to retire at age 60 with the same lifestyle you enjoyed while working. This transition from growth-focused to certainty-focused is where true financial peace of mind begins.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
If you choose to retire at age 60, you face a seven-year window before the safety net of the Age Pension becomes available at 67. This period, often called the “Gap,” is where most retirement plans fail or succeed. You don’t need a miracle to make it through; you need a methodical bridge. Relying solely on superannuation during these years can be risky if market conditions shift. Instead, we look at your total wealth, including property and share portfolios, to create a predictable stream of income that doesn’t deplete your capital too early.
A core part of this transition is moving from a growth mindset to a preservation mindset. We often see business owners who are brilliant at generating revenue but struggle to structure a drawdown that lasts thirty years. The goal is to move away from the stress of market volatility and toward a state of calm control. Whether you plan to retire at age 65 or wait until the full pension age, your strategy must account for both liquidity and longevity.
To manage your cash flow effectively, we use a three-bucket approach. This structure ensures you always have funds on hand without sacrificing long-term growth:
The years leading up to your exit are the most critical for tax optimisation. By engaging professional business accounting services, you can ensure your company structure is working for your retirement, not against it. This includes balancing concessional contributions, which have a cap of $32,500 for the 2026/27 financial year, with non-concessional contributions of up to $130,000 to build your base. Securing your legacy through proactive estate planning ensures that your wealth serves your family long after you’ve stopped work.
If you’re ready to move from operational confusion to a defined retirement solution, you can explore our Wealth Management services to see how we can help you bridge the gap with confidence.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
We’ve explored the milestones, the “gap years,” and the unique hurdles for FIFO workers and business owners. Now, it’s about putting those pieces into a cohesive, actionable plan. At KHT, we don’t just look at your balance sheet. We look at your life. Whether you want to retire at age 60 to travel or wait to retire at age 67 to maximise your pension, you need a strategy that moves you away from the feeling of being stuck. Our goal is to provide you with the clarity needed to make these life-changing decisions with total confidence.
The transition from a high-income career to a funded retirement can feel like navigating through a fog. You know the destination is there, but the path is obscured by tax laws, superannuation caps, and business valuation uncertainties. We act as your steady guide. By integrating business advisory with personal wealth management, we ensure your entire financial ecosystem is working toward a single, defined solution. This holistic approach is what separates a generic financial plan from a strategic exit strategy.
Our approach is methodical and empowering. We lead you away from operational confusion and toward a state of calm control. We understand the inherent difficulties of entrepreneurship and the specific pressures of the WA mining sector. You shouldn’t have to manage multiple firms to get a single answer about your future. We’ve helped dozens of Subiaco professionals move from stagnation to a state of financial certainty. You can see the real-world results of this in our case studies, where we detail how local families successfully navigated their business exits and secured their long-term wealth.
A structured plan provides more than just numbers on a page; it provides peace of mind. We focus on growth, stability, and future-focused results. Our proprietary methodology ensures that every tax strategy and investment choice is aligned with your personal timeline. This isn’t a faceless corporate process. It is a partnership with a team of experts who have navigated these same professional challenges themselves.
The first step toward your new life isn’t a complex audit or a dense report. It’s a simple, human conversation. Having a mentor who lives and works in the same community makes a difference. We understand the local market and the unique needs of Subiaco families. We invite you to visit our office for a strategic review of your current position. Let’s demystify the rules and build a timeline that gives you back your time. You’ve worked hard to build your wealth; now, let’s make sure it’s ready to support you.
Contact the KHT team today to begin your journey toward a certain future.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial and legal situation.
Choosing when to step away from the grind is one of the most significant decisions you’ll ever make. We’ve seen that the choice to retire at age 60, 65, or 67 isn’t just about reaching a legal milestone; it’s about having the financial certainty to fund the life you’ve worked so hard to build. By understanding the “transition zone” and implementing a methodical three-bucket strategy, you can bridge the gap between your last day of work and your first day of pension eligibility without the fear of running out of cash.
At KHT Accounting & Wealth, we specialise in moving Subiaco business owners and FIFO workers from operational confusion to a defined retirement solution. Our trusted advisors use a multi-step proprietary methodology and deep SME expertise to ensure your business succession and personal wealth are perfectly aligned. You don’t have to navigate these complexities alone. Take the first step toward a calm, controlled future by engaging with a team that has personally managed these same professional obstacles.
Book a Strategic Retirement Review with KHT Accounting & Wealth today and start designing a life of true possibility. You’ve earned the right to look forward to your next chapter with confidence.
The information provided in this article is for general purposes only. It’s essential to always seek professional advice by speaking to a registered professional regarding your specific financial situation.
You can choose to stop working at any age if you have the private funds to support yourself. However, most Australians wait until they reach their preservation age, which is 60 for anyone born after 1 July 1964, to access their superannuation. If you wish to retire at age 50 or 55, you’ll need a significant portfolio of non-super assets like property or shares to fund your lifestyle until your super becomes available.
For most people planning their future today, accessing super at 55 is no longer possible. The preservation age has gradually increased and is now 60 for anyone born after 1 July 1964. There are very limited exceptions, such as permanent incapacity or severe financial hardship, but these are rare. If you’re aiming for an early exit, focusing on building wealth outside the super environment is your most effective strategy.
The amount you need depends entirely on your desired lifestyle and whether you own your home. Benchmarks for “modest” and “comfortable” retirements are updated periodically to reflect the cost of living. For a comfortable lifestyle, you’ll need to account for travel, health care, and leisure activities over a thirty-year horizon. We recommend a personalised review to determine your specific number based on your actual spending habits and long-term goals.
Your business remains your asset until you choose to sell it or pass it on to a successor. If you retire at age 65 without a plan, you might find your wealth is “trapped” in an illiquid company. Ideally, you should begin preparing for a sale or transition three to five years in advance. This ensures the business is sale-ready and allows you to take advantage of Small Business CGT concessions to maximise your final payout.
No, the eligibility age for the Australian Age Pension is 67 and there are no scheduled increases for 2026. While the age was gradually raised in previous years, it has now stabilised. Keep in mind that while the age remains the same, the income and assets tests are updated every March and September. These tests determine if you’ll receive a full pension, a part pension, or no government support at all.
Yes, you can access a portion of your super while still working through a Transition to Retirement (TTR) pension. Once you reach your preservation age, which is 60 for most, you can draw down between 4% and 10% of your balance each year. This is a popular strategy for those who want to reduce their working hours or boost their super balance through salary sacrifice while maintaining their take-home pay.
FIFO workers typically plan for an early exit by aggressively building “bridge” wealth during their high-income years. Because the physical demands of the job are high, many aim to finish by 55 or 60. This requires a strategy that prioritises debt reduction and diversified investments outside of super. By creating these external income streams, they can walk away from the mines long before they reach the official pension age of 67.
While you aren’t legally required to have a planner, the complexity of the Australian retirement system makes professional guidance invaluable. Managing the interplay between tax laws, superannuation caps, and the Age Pension tests is difficult to do alone. A specialist can help you move from operational confusion to a structured plan. This ensures you don’t overpay tax or miss out on government entitlements you’ve earned.
The information provided in this article is for general purposes only. You should always seek professional advice by speaking to a registered professional regarding your specific financial situation.
Article by
Ben Elliot
I'm Ben, and I help Aussie business owners make more profit, pay less tax and build long-term wealth. I've been an accountant for over 20 years, and you can access my knowledge on things like business structures, tax planning and wealth-building through any of the channels below,
If you'd like to discuss your specific business and financial goals, my team at KHT Accounting & Wealth would be happy to have a chat! Reach out to me directly on https://calendly.com/benelliott
The information contained on this website is intended for general informational purposes only and does not constitute financial, tax, or legal advice. While KHT endeavours to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the information. Any reliance you place on such information is strictly at your own risk.