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 it probably does come down to what I do for my job.

Well, because I give comprehensive advice, it really does form part of the overall scheme of things because a lot of people, an easy way, I guess, to lead into it is a lot of people want to save tax.

No one likes paying taxes, even though it's necessary to make our economy run smoothly, right?

So a big part of it is looking at, well, we can have the same investment inside or outside of super, but we'll typically earn a better return when that money is invested inside super because of the tax benefits.

So typically people are more interested in superannuation when you start talking about the tax benefits.

But it is definitely a trade-off because you are locking that money away until at least 60 years old or until you meet a condition of release.

So, yeah.

Yeah, I actually had, I've got a real life example that I can talk about here.

I had a client that I met with recently, just last week, and she's 30 years old.

She's currently got $28,000 in super.

And she is super self-conscious about being behind with her super.

So I say behind with inverted commas.

So, yeah, she's self-employed, doesn't have contributions going in, but we ran a quick projection.

If she just makes a $20 per week contribution into her super, it's projected to be worth about $338,000 at age 67, which is when her age pension age is.

So that's only made up of about $38,000 of her own contributions.

And then the rest being over $270,000 is made up of investment returns that have compounded over that 37 years.

So it does come down to starting early if you can.

And even if it's just small amounts, it can really make a big difference at retirement.

Like $338,000, like I can't remember what those choice numbers were.

I've got them on the screen here.

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