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 that's because of these three pillars.

So superannuation, we can start accessing that from 60 years old.

There's no retirement age in Australia.

So we can start accessing from 60.

That's our preservation age.

um but age pension is only at 67 for most of the listeners here which means there is a gap between 60 and 67 that you need to be self-funded and if you want to retire before 60 you need to have your own voluntary savings as well to kick in beforehand um and then when it comes to the home ownership and the voluntary savings so home ownership a lot of people forget that um

There's a lot of equity in homes these days if we've owned the home for a long time or even if we've owned it for the last couple of years.

And I did have a statistic here that said that people over the age of 65, the majority of their wealth is in their home rather than their super.

So if somebody is coming to me quite late, we can always talk about what are the options around that.

accessing some equity from the home, is it we downsize or do we look at a reverse mortgage or like there are options available.

So the other levers we can pull when it comes to a retirement plan is

spending less or earning more in order to save more before we get to retirement.

So that's where it comes down to that cash flow discussion again.

Some of the other levers we can pull are delaying goals.

So if we want to retire at 55, but we're just not going to have enough in our voluntary savings bucket, then can we work part-time from 55 to 60 or

Or if we want to retire at 60, but we can't afford to, can we work part-time or do we just work one extra year or whatever it is?

So there's options around delaying the goals as well, which will allow you to save more and spend less of your savings as well.

And then some other things we can do is adjust our expectations in retirement.

So if we want to have these big lavish holidays in retirement, well, maybe we agree that we do that every second or third year instead of every year.

or we might do them for the first five years, but then we dial them back.

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