Deline Jacovides

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314 appearances 1 recordings 1 series first heard Aug 2022 last heard Aug 2022

Deline Jacovides’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Super & retirement in Australia: a financial adviser’s perspective · 31 Aug 2022 podcast

So there's different options around that, around the goals.

And then also looking at, well, how's the money invested?

If we do have a long timeframe to invest, we can typically look at investing more aggressively, but that's not always appropriate for somebody with a shorter timeframe or somebody who doesn't have the risk appetite for that.

So there's a bunch of levers that we can pull and it really does depend on, yeah, like your age, your income and your expenses and what your overall values and goals are for the future.

Yeah, because everyone's probably heard that saying or the Albert Einstein eighth wonder of the world, like compound interest is the eighth wonder.

And so you really want to start making your money work for you rather than you working for your money.

So the earlier you start, the better your long-term will look.

like but you know coming back to what what's um what can we spend now and not delay for the future like that really comes down to all those that goal that goal planning because you don't want to put off things that you can do now and like if you can afford to because i have seen people get to retirement and they have delayed you know travel or delayed spending time with family and they thought they would do that when they retire but then their health unfortunately doesn't allow them to do that

So that's why it is really important to make sure you're living a fulfilling life now.

I'm not saying be YOLO and spend all your money and not think about the future and use that as an excuse.

But it is around building goals that are realistic and doing things that make you happy now because you just don't know what the future will hold in terms of health, family, you know, those kinds of things.

Yeah.

Yeah, well, in regards to because they're kind of different topics there.

So if it was like an involuntary leave, such as illness or disability, that's where it's really important to make sure we've got that insurance insurances in place.

And we have a significant under insurance issue in Australia with personal insurances like life and disability insurance.

So that's a different topic.

Yeah, making sure you've got the right insurances would be my suggestion on dealing with that because and the whole point of insurance is you hope you never have to use it, but it's there as a backup so that you do have enough money if you couldn't work again or you couldn't work for a period of time.

And that's where like income protection or trauma insurance would kick in.

When it comes down to taking time out of the workforce because you're caring for family members, like you mentioned, a parent or you've got elderly parents that you want to care for, those sorts of things.

So, the good news is that the modelling suggests that in the future, the gap between men and women's superannuation balances are increasing.

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