In this episode of Retirement Living Your Way, Greg Black is joined by Troy Theobald and Josh Nixon from RFS Advice to unpack the foundations of retirement investing. The conversation focuses on the more defensive side of portfolios, including cash, term deposits, fixed income, mortgage funds, balanced funds, real return funds, and Australian shares used for income.

Troy and Josh explain why each investment needs a clear purpose, how retirees can think about risk, liquidity and income, and why labels like “balanced” or “fixed income” can sometimes be misleading. They also discuss the importance of cash buffers, diversification, understanding what sits underneath a portfolio, and avoiding investments where the risk is not properly understood or rewarded.

This is the first part of a two-part conversation designed to help retirees better understand how different investments work together to support income, stability and long-term confidence