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START HERE: Downsizing for Retirement: How to Turn Your Home Equity Into Financial Freedom
In this Start Here episode, Canna answers Pamela’s question:
“I’ve only got $77,000 in super and plan to retire in three years at 65. My home is worth $3 million, but most of my money is tied up in it. I’m considering downsizing — what do I need to know to make this money last?”
Canna explains:
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How the Downsizer Contribution rules work and who qualifies.
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What to check before selling — including getting professional valuations, researching new property costs, and calculating net proceeds after fees.
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Why the downsizer top-up might not fully close a retirement gap, and what other strategies can help bridge the difference.
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How to plan your cash flow, super contributions, and investment mix for sustainable income in retirement.
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Why working with a licensed financial planner can make all the difference in mapping out the next stage of your financial journey.
If you’re 55 or older and considering freeing up equity from your home, this episode will help you understand how to turn that value into a secure, flexible, and confident retirement plan.
🪙 Key Takeaways
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The Downsizer Contribution allows up to $300K per person (or $600K per couple) to be added to super from the sale of your home.
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You must make the contribution within 90 days of settlement and you only get one opportunity to do so.
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Always account for sale and purchase costs — including commissions, stamp duty, and moving expenses — before assuming how much you’ll unlock.
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A financial planner can help close any remaining gap through salary sacrificing, after-tax contributions, and long-term investing strategies.
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Downsizing is about financial freedom, not just a smaller home.
⚠️ General Advice Disclaimer
This podcast provides general advice only and has been prepared without taking into account your objectives, financial situation, or needs. Before acting on any information, you should consider whether it is appropriate for you and, where appropriate, seek personal financial advice from a licensed financial planner.
📱 Published on 3 weeks ago