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

And because a lot of people do choose to have some of their insurance paid from their super balance, that can impact their long-term retirement savings as well.

So that's why I choose to give comprehensive advice because it all kind of interlinks, as you can see.

So the everyday millionaires that I've seen have typically been people that have, like you said, just been PAYG, had contributions their entire working life.

And because of that consistency into their super, they've been able to retire with very comfortable super balances at the moment.

And the thing I think we should also remember is that superannuation has just turned 30 years old on the 1st of July this year.

Well, I should say the compulsory super system.

And so when superannuation was first introduced back in 1992, it was only a compulsory 3% or 4%.

And now we're at 10.5%.

So that's been slowly increasing over time.

And it is planned to increase up to 12% over the next few years as well.

So, what we need to remember is that the people that are retiring now with these comfortable balances, they haven't even had the full 10% or 12% going into their super, their whole working life.

So, it is still maturing now.

And if we're in our 30s or 40s, we've still got a long time before we can

access our super so even if we do feel behind now there is plenty of opportunity to still save for our retirement it's not too late because i know a lot of people feel like it's too late and they're really nervous about not having enough and that's absolutely not the case

So I did mention earlier, Ron, that the superannuation is one pillar of the retirement system.

So the three major pillars to the retirement system is superannuation savings, the age pension, and then also voluntary savings, which includes home equity.

So what I've seen sometimes with people that are at retirement and maybe it is a bit late for them, most of your listeners, you know, 30s, 40s, even 50s,

they will still have time to turn things around and make changes.

But somebody who's literally come to me at 65 years old saying, I'm going to retire next week, they've kind of left it a bit late.

But there's usually still choices available for them.

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