Retirement planning is often seen as something that will be attended to somewhere far in the future. However, the truth is that the sooner you start planning and saving for your retirement, the better you will be prepared for it.
Many clients, irrespective of their age, do not think about the risks involved at retirement, nor do they appreciate the benefit of saving over long periods of time. We do an in-depth retirement plan, so that the client may understand what will happen to their retirement savings in future. Adhering to this plan, will enable him to retire free of financial stress.
In many cases clients have the perception that their current pension fund or retirement annuity will provide sufficient capital at retirement, or that their business or primary residence will provide the necessary retirement funding capital. Unfortunately this is not always the case, since the value of retirement funding that is required to provide properly for their retirement needs, is more often than not, underestimated.
The Wealth Management process ensures that a client is aware of not only his/her current situation with regards to their finances, but also what the end goal is and how to get there. This creates a situation where all parties concerned are not only in agreement, but become partners in this process.
Proper retirement planning does not only take Retirement Annuities, Pension funds,etc. into account, but also other assets that might be able to provide either a capital sum at retirement, or a passive income. Using all available information, including future investment possibilities, we advise our clients on the best route forward.