Before considering retirement you need to know what your retirement will look like and can you afford to retire, or should you retire. Know how much you will need in retirement.
How many games of bowls or golf games a week are going to long term satisfy you in retirement. How many times can you travel up North and around Australia.
Maybe you should not ever fully retire. That does not mean you should keep working in your existing job, especially if you are in a trade. Your back and those knees are probably giving out, but a change of scene in a job that is easier on the back and the knees, working one or two days a week, not necessarily every week. Retirees who continue to work part time are happier and often healthier having something to stimulate their mind and not having to be constantly worrying whether their retirement funds are dwindling away.
Once you reach pension age you can draw a tax free pension from your super and still be able to work. A couple can earn up to $28,973 each and a single can earn up to 32,278 per year.
From experience, working with retirees one of the biggest mistakes you can make is to retire and give up working. Working one or two days a week will do wonders for your health and happiness. You will not have time to be depressed or worry about whether you can afford to change your car or go overseas.
It is important that you do not retire with debt or a mortgage. To achieve this you may consider downsizing and taking a tree or sea change. In doing this be sure to consider where you move to with necessary services such as hospitals close at hand.