Retirement Planning

Our Expertise at Delta Financial Group is in Helping People Aged 45 and Above Create An Income For Life and Afford A Comfortable Retirement | Book A Free Consultation | Open Monday to Friday 8am to 5:30pm | Visit Us At Delta Financial Group Level 11, 22 Market Street Sydney 2000 | Contact us at enquiries@deltafinancial.com.au or 02 9327 4338

Retirement is one of those big milestones in life that often comes with uncertainty. Many people wonder how much money they’ll need to achieve financial security, independence, and freedom. And even more crucially, they may not know how to invest the money they already have to generate additional income that can fund their desired lifestyle and ongoing expenses.

Saving for Retirement

During our conversations with clients, we’ve discovered that despite their robust household income and home equity, their investments and superannuation savings fall short when it comes to funding their retirement. As a rule of thumb, maintaining at least 70% of your current household income is generally recommended to uphold your existing standard of living throughout your retirement years.

Creating income security and ensuring a successful and happy retirement is no easy task. Many Australians have been saving and preparing for retirement their entire working life. Thirty years ago most people could rely safely on social security and a pension to provide their income, however that is no longer the case. Today we have a much greater personal responsibility to create our own retirement income plan.

Investing for Retirement

As healthcare costs continue to rise and people live longer, the importance of saving and investing becomes increasingly evident. Moreover, the threat of inflation looms, posing potential risks to our purchasing power. With these factors in mind, it is crucial to explore all available options for retirement planning, particularly appropriate investment opportunities.

Risks and Challenges in Retirement Planning

It is equally important to consider unexpected events that could impact your financial situation. Providing support for elderly parents, covering education costs for your children, and navigating through life changes such as divorce or redundancy can have a significant impact on your finances.

Keep in mind that everyone’s dreams and goals are unique. What truly matters is uncovering how to define and achieve the ones that resonate with you. Whether it’s providing for your children’s education, buying a new home, enjoying a comfortable retirement, or making meaningful donations to charities that are close to your heart, implementing automated multiple income streams through astute investments can make it all more within reach.

It’s worth noting that many people assume their biggest financial challenge in life is paying off a house. However, in reality, the most significant challenge lies in losing your income.

Retirement Planning Considerations

Whether you can fully fund your own retirement, or whether you need third party support, there are a few important considerations both prior and during retirement. If you haven’t done so already, it’s worth discussing these key questions with your professional retirement planner.

  • How much do I need to live week to week given my personal circumstances?
  • How much income will my likely superannuation balance generate?
  • How will superannuation assets affect my ability to receive government benefits?
  • Do I need or will I be eligible for government support?
  • Is it important to save money outside of superannuation?
  • If my only asset is my house, how long will my money last in retirement?
  • Do I need to continue working part time?
  • Do I need to purchase a funeral plan?
  • What types of pensions are available and suit me?
  • Will I need my insurance once I retire?

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    Here’s how we helped Ed & Susan to achieve their dream retirement life in Spain

    Context: Ed & Susan, both in their early seventies, sought ways to maximise their retirement savings. They had a clearly defined retirement goal and roadmap. While having superannuation and some savings, the majority of their net wealth was tied up in the family home, which was up for sale. With their adult kids living independently with their partners, Ed & Susan decided to downsize the family home, head to Spain, and purchase an apartment. We helped Ed & Susan understand the importance of diversification and the benefits of the superannuation and pension environments to provide a tax-effective income stream whilst retiring in Spain.

    Client Goals

    • Sell family home and make the best use of the sale proceeds
    • Buy an apartment in Spain and do some renovations
    • Take advantage of the super downsizer contribution
    • Maximise con-concessional super contributions to fund their retirement
    • Have the financial freedom to do what they want in retirement
    • Leave something for their children and grandchildren

    How we helped

    • Discussed their objectives and modelled the future outcomes
    • Developed a comprehensive financial model of their current situation
    • Further modelled scenarios of different housing expenditure and investment strategies and its impact on their retirement
    • Decided to maintain adequate cash buffers to prepare for any market downturns
    • Planned a $300,000 contribution each into superannuation via the downsizer contribution
    • Took advantage of the 3-year bring-forward rule which allows you to contribute 3 years’ worth of Non-Concessional Contributions (after-tax Contributions) so $360,000 each
    • Diversified their investment portfolio and invested inline aligned with their balanced risk profile
    • Set up pension payments to supplement existing income so that they can maintain their desired retirement income of $120,000 p/a, indexed to inflation and after tax
    • Updated their estate plan and non-lapsing binding death super nominations

    Retirement often marks the point where income loss occurs. That’s why it’s crucial to establish revenue streams that can compensate for this loss. Ideally, by the time you retire, you will have taken care of your mortgage payments and set up solid income streams to support your desired lifestyle. Reach out to us at Delta Financial Group and receive professional guidance along this journey and uncover key retirement planning strategies that will help secure your financial future.


    At what age should I start planning for retirement?

    The earlier, the better. Starting in your 40s or 50s allows for more time to accumulate wealth and benefit from compounding interest.

    What are some common retirement planning mistakes to avoid?

    Mistakes include underestimating expenses, not saving enough, reliant on Government pension and neglecting healthcare costs in retirement.

    How can I estimate my retirement expenses and income needs?

    Consider current expenses, healthcare costs, inflation, and desired lifestyle. Best to consult with a financial advisor for a comprehensive assessment.

    What role does healthcare play in retirement planning?

    Healthcare costs tend to rise in retirement. Include Medicare, supplemental insurance, and long-term care plans in your financial strategy.

    What are the best retirement investment options for steady income post-retirement?

    Options include annuities, dividend-paying stocks, bonds, real estate investment trusts (REITs), and conservative funds emphasising income.

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