Retirement is a fact of life. Less than 6% of all South Africans will be able to continue their current lifestyle after retirement. What must you do to ensure that you retire independently? Start planning for your retirement as soon as possible. Retirement planning can be divided into two major stages:
Younger clients who are still accumulating capital for their retirement. We will provide you with a retirement plan which will include the different products available for retirement. You will also be advised on the most tax efficient investments to maximize your capital. We will conduct a regular assessment of your unique retirement plan to ensure that your plan remains on course.
2. Clients who have reached retirement
We will conduct a comprehensive analysis of all your available capital for retirement. These may include your pension or provident fund, retirement annuities and any other investments or assets. We will advise you on the most tax efficient manner to utilize your capital, ensuring that your after tax income will be a maximum. A regular assessment of your retirement plan will be conducted to ensure that your plan remains on course.
Estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. The various goals of estate planning include making sure the greatest amount of the estate passes to the estate owner’s intended beneficiaries, often including paying the least amount of taxes. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity. We will conduct a comprehensive analysis of your existing last will and testament and advise you on income tax, capital gains tax, estate duty and we will make the necessary recommendations to amend your will if need be. It is never too early or too late to start planning your estate. Make sure that your wishes are carried out after your death. It is important that your loved ones are left with adequate income and resources after your death.
Your single biggest asset is not your house, as you may believe, but your ability to earn a monthly income. What will happen when you lose this ability to earn an income? Obviously, you or your dependents will have to live without the income. You can lose your ability to earn an income because of:
- Dreaded disease