Before you retire, read this…

The 5 Things NOT to Do Leading Up to Retirement (And What to Do Instead)

If you’re reading this, you’re probably getting close to a huge milestone or wanting to prepare in the right way for retirement. First off, congratulations! Whether it’s still a few years off or just around the corner, it’s a big deal to even be thinking ahead.

But here’s the truth most people DON’T talk about enough:
What you don’t do before retirement can matter just as much as what you do.
In fact, a few common missteps in the final stretch can make the difference between a peaceful, prosperous retirement… and a stressful one.

If we were sitting down over coffee chatting about it (which I’d love, by the way!), here’s what I’d make sure you know:

5 Things NOT to Do Leading Up to Retirement (And What to Do Instead)

1. Don’t Ignore Your Retirement Budget

It’s tempting to think, “I’ll just figure it out when I get there.”

But retirement isn’t a finish line — it’s a brand new life chapter. Without a clear spending plan, it’s shockingly easy to burn through savings faster than you think.

Start now: Track what you spend today. Then, get real about how you want to live in retirement — and what that lifestyle will actually cost.

(And yes, traveling, grandkids, and new hobbies all count!)

2. Don’t Wait Until Retirement to Plan How You’ll Use Your Money

A lot of people focus on growing their investments… but few have a withdrawal strategy before they need it.

Without a plan, you could accidentally trigger bigger tax bills or drain the wrong accounts first.

Think about:

• Which accounts you’ll pull from (and when)

• How to minimize taxes along the way

• How to create a consistent “paycheck” from your savings

(If this feels overwhelming, you’re definitely not alone. This is one of the biggest areas I help people with!)

3. Don’t Take on Big New Debts

It’s tempting — a new car, a home renovation, or even co-signing a family member’s loan.

But taking on major new debt right before you stop earning a paycheck?

That can put major pressure on your retirement cash flow later.

Instead: Focus on paying down what you already owe and protect your future flexibility. Retirement is about freedom, after all.

4. Don’t Underestimate Healthcare Costs

I know, it’s not the most exciting topic. (I’d rather talk about dream vacations too.)

But healthcare can easily become one of your biggest expenses — even if you’re healthy now.

Plan for:

• Out-of-pocket costs

• Health insurance gaps before Medicare (if you retire early)

• Potential long-term care needs

🎁 A little preparation now can mean a lot less financial (and emotional) stress later.

5. Don’t Leave Your Investments on Autopilot

You may have looked at your investments recently, you’re not alone.

But as retirement gets closer, it’s a good idea to review your portfolio to match your new or future goals.

That doesn’t mean you have to go ultra-conservative — but it does mean protecting what you’ve worked so hard to build.

Ask yourself:

• Am I taking on too much (or too little) risk?

• Am I set up for steady income, not just growth?

• Are my investments aligned with how I actually plan to live?

👉 Here’s the Bottom Line:

Retirement isn’t an end — it’s a new beginning.

A little proactive planning now can set you up for more freedom, peace of mind, and joy in this next season of life.

And if you’re feeling a little unsure about whether you’re covering all your bases — that’s totally normal.

Honestly, having real conversations about these topics is one of my favorite parts of what I do.

Thinking about retirement? Curious what a clear, peaceful plan could look like for you?
If you feel want to chat about your plans, just know I’m here. Sometimes just talking it through can make all the difference.

Let’s connect –

👉 Book a confidential session here or call us on 08 7111 0022

Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist

B.Bus (Accounting)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor

REMEMBER, action is power!
💪 We want to make the rest of your life the best of your life.

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Disclaimer: This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.