Elder Intro 01 Lifestage Considerations 02 Income

The first pillar to consider is income. At this stage of life we may be shifting from earned income as our main source of income to looking to provide for ourselves with some sort of passive income. Whether that is government entitlements, government supports, workplace pension, or possible state pension, we need to consider the different types of income.

We could also have rental income from assets. The idea here really is that assets which have been accumulated over a working lifetime are now available to you so that you can gain income whereas previously you would have focused on accumulating those assets. It doesn't mean you can't continue to accumulate assets; what it just means is the focus switches slightly. Ideally you're shifting from the position where you've had to input a certain number of hours to generate a certain amount of output, in other words a certain amount of income, and reducing the pressure on your physical self to be present for a working situation.