Late-career choices
How much longer
do I really need to work?
Work out when you could reduce hours, change roles, consult or stop - and what each choice would mean for spending, super and investments.
You may not want to retire.
You just don’t want work deciding everything else.
You may still enjoy parts of your work.
You may also be less willing to give it five days a week, tolerate the same pressure or postpone everything else until a conventional retirement age.
The question is often not “Can I retire today?” It is:
Could I move to three or four days?
Could I leave this role and consult selectively?
Could I take a year out without damaging the long-term plan?
Could I accept less income for more control over my time?
How much does another year or two of full-time work actually change?
What should we do before employment income falls?
Compare the choices that exist between now and retirement.
A useful plan should be able to compare several realistic paths, such as:
Continue full-time for two more years, then stop.
Move to four days now and three days later.
Leave the current role, take a break and return as a consultant.
Use non-super investments before super becomes accessible.
Pay down debt before reducing income.
Spend more while working less, accepting a smaller later estate.
Each option should show the key assumptions, trade-offs and conditions that would cause the decision to be revisited.
More work is valuable only in relation to what it changes.
Another year may increase savings, super contributions and the margin in the plan.
It also has a cost in time, health, flexibility and opportunities deferred.
Dao Capital's role is not to tell you that work is good or retirement is better. It is to quantify what continued work buys and help you decide whether the trade is worthwhile.
Some choices are easier while income is still high.
Depending on your circumstances and what we agree to cover, the transition may require consideration of:
Debt and cash reserves.
Super contribution opportunities and access timing.
Employee equity, bonuses or deferred remuneration.
The ownership and tax position of investments.
Portfolio liquidity before earned income falls.
Family support, schooling or care commitments.
The timing of large discretionary spending.
This is why the step-back decision should be designed before the resignation letter.
Work optional does not mean work prohibited.
You may choose to keep working because it remains interesting, social or meaningful.
A work-optional plan gives you the ability to make that choice without treating full-time income as a permanent financial requirement.
The plan should also remain useful if you later change your mind.
Ongoing planning lets the assumptions and decisions change with you as life, markets, and rules shift.
What would you do differently if you knew work was optional?
If you want to know when you can step back - and want someone to help make the change work in practice - tell us what you are considering.