5 cash and bond ETF ideas for retirement income

In this episode of the Australian Retirement Podcast, Owen Rask sits down with Kanish Chugh, Head of ETF Sales at PIMCO Australia, to unpack why higher interest rates are changing the case for defensive assets. They explore why bonds are no longer the 'boring' part of a portfolio, what today's yield environment means for retirees and income-focused investors, and why the starting yield on fixed income matters more than many people realise. Owen and Kanish break down the trade-offs between savings accounts, term deposits and cash ETFs, including why liquidity, monthly distributions and portfolio role matter just as much as headline yield. They also explain how short-duration strategies differ from longer-duration bond exposures, why retirees often need a clearer cash plan than accumulators, and how fixed income can reduce the need to sell growth assets in weak markets. If you're building a retirement income plan, managing a cash bucket or simply trying to understand where fixed income fits in 2026, this conversation offers a practical framework for researching your next move. Kanish also shares the PIMCO products and fixed income ideas investors can add to a watchlist and explains why now may be one of the most compelling periods in years to revisit bonds, cash-plus strategies and diversified defensive exposure. Chapters 00:00 Introduction 02:49 Cash vs. Fixed Income 05:12 Global Macro Outlook 10:37 RBA & Australian Rates 16:18 Bonds Explained Simply 26:50 Portfolio Balance & Goals 31:38 Cash ETFs Explained 39:16 Starting Point Matters 43:16 Three ETF Ideas 48:26 Closing & Advice Episode resources PIMCO - EARN https://www.pimco.com/au/en/investmen... PIMCO - PGBF https://www.pimco.com/au/en/investmen... PIMCO - PDFI https://www.pimco.com/au/en/investmen... PIMCO - PAUS https://www.pimco.com/au/en/investmen... PIMCO - PCRD https://www.pimco.com/au/en/investmen... Ask a question (select the Retirement podcast): https://bit.ly/R-quest Show partner resources Join Pearler using the code "RASKSWITCH" and get $32 of Pearler Credit: https://bit.ly/Pearler Whatever comes next for your business, power it with Stripe: https://stripe.com Rask resources All services: https://bit.ly/R-services Financial Planning: https://bit.ly/R-plan Invest with us: https://bit.ly/R-invest Access Show Notes: https://bit.ly/R-notes Ask a question: https://bit.ly/R-quest We love feedback! https://raskau.typeform.com/to/ZbfHy6IP Follow us on social media Instagram:   / rask.invest   TikTok:   / rask.invest   Disclaimer The information in this episode is provided by The Rask Group Pty Ltd and contains general financial product advice only. It does not take into account your objectives, financial situation or needs. Before acting, consider whether the information is appropriate for you and consider seeking personal advice from a licensed financial adviser. You can read our Financial Services Guide at www.rask.com.au/fsg. If a financial product is mentioned, consider the relevant PDS and TMD, where applicable, before making any financial decision. Past performance is not a reliable indicator of future performance. Returns are not guaranteed and capital may be at risk. The Rask Group Pty Ltd is a Corporate Authorised Representative No. 1280930 of Rask Licensing Pty Ltd, AFSL 563 907.