Owning your own home is the great Australian dream. Faced with housing shortages and escalating rents, having a personal sanctuary can spell the difference between a comfortable, secure retirement and one with challenges and uncertainty. If you're contemplating a move to a smaller, or more conveniently located residence for your retirement years, selling your family home could be a great way to unlock the equity you've diligently built over the years, whilst giving your superannuation a substantial boost.

It is worth noting that a lot of the announcements in the federal budget come into play at different times and over various periods. Any proposed changes in government revenue or expenditure need to be legally authorised. This means some decisions within the budget need to go through the parliamentary process before becoming law.

Treasurer Jim Chalmers was given the task to improve the Australian economy without fuelling inflation, amidst weak and uncertain domestic and global economic outlooks. The key message appears to be aimed at supporting cost-of-living and a “Future Made in Australia”.

Colonial First State conducted a national survey of 2,247 Australians to gauge their views on retirement. All respondents held either a superannuation, pension or annuity account or have investments in their name and are the sole or joint decision maker.