Questions to Ask Before You Invest Your Retirement Savings
Last reviewed 26 May 2026 · FiftyPlus Finance
Good questions lead to better decisions. Whether you're talking to a financial adviser, your super fund, or a product provider, the questions below can help you understand what you're being offered.
This page is general information only and not personal advice. Always verify licensing on the ASIC Financial Advisers Register.
Before the meeting
Write down what you want to achieve, what you already have, and what you're worried about. Bringing a one-page summary (super accounts, other savings, debts, expected expenses) makes any conversation more productive.
It is reasonable to ask for written material in advance, to take notes, and to bring a trusted family member or friend with you.
Ten questions worth asking
1. What problem does this product or strategy solve for me, specifically?
2. What are all the fees — entry, ongoing, performance, adviser service and exit?
3. What is the worst realistic outcome over 1, 5 and 10 years, and what's the best?
4. How is my money invested? In what kinds of assets and through whom?
5. How and when can I access my money, and are there penalties?
6. Is the person recommending this licensed, and how are they paid?
7. How will this interact with my Age Pension entitlements?
8. What happens to this if I — or my partner — pass away?
9. Where is this information written down, so I can review it?
10. What are my alternatives, including doing nothing?
Red flags to watch for
Genuine professionals welcome questions and don't pressure you to act quickly. Be cautious about cold calls, unsolicited social media tips, promises of 'guaranteed' or unusually high returns, vague answers about fees, and requests to transfer money to personal or overseas accounts. See common retirement investing pitfalls for more.
If something doesn't feel right, pause. You can verify licensing on the ASIC Financial Advisers Register and check scam alerts at Moneysmart.
After the meeting
Take time to re-read any documents. A Statement of Advice (SoA) or Record of Advice (RoA) should set out the recommendation, the basis for it, the costs, and your alternatives. If anything is unclear, ask in writing for a plain-English explanation.
For more on how to vet professionals, see choosing a licensed financial adviser. To receive a written overview to read at your own pace, you can request your free information pack.
Frequently asked questions
Should I check an adviser's licence?+
Yes. In Australia you can check ASIC's Financial Advisers Register to confirm an adviser is appropriately authorised.
Is there ever pressure to act fast?+
Genuine professionals do not pressure you. Take the time you need, and feel free to seek a second opinion.
What is a Statement of Advice?+
An SoA is a written document that sets out the personal advice you receive, the reasons for it, and the costs. You are entitled to one before acting on personal advice.
Can I get a second opinion?+
Yes. It is normal and often sensible to compare recommendations from more than one licensed adviser.
How much should advice cost?+
Fees vary widely depending on scope and complexity. Ask for the fee in writing and what is included before you proceed.
Related guides
Important — please read
The information provided on this website is general information only. It does not take into account your personal objectives, financial situation or needs. Before acting on any information, you should consider its appropriateness having regard to your own circumstances and obtain advice from a qualified, licensed financial adviser.
All investments carry risk, including the possible loss of some or all of the capital invested. Past performance is not a reliable indicator of future performance. No outcome, return, income or capital guarantee is made or implied.