​Retirees aren't a homogenous bunch, no matter what the advertisements would have you believe. Some retire with loads of money, some with not quite enough. That's why one person's retirement portfolio may need a bit more in the way of growth assets than someone else's.

Lonsec Investment Solutions retirement model portfolios come in three varieties: conservative, balanced and growth. "If you're coming into retirement with not a lot of assets, you've got two options: don't spend a lot or invest in more growth assets," chief investment officer Lukasz de Pourbaix says.