Your needs and requirements will change as you move through the different stages of life.
Let's start with the BIG picture.
Your life can be split into 4 primary phases.
Each stage of life has special and specific needs. Take a look below.
(Concentrate your Attention)
(Organizing your Wealth)
(Securing your Wellness)
From a "Wealth" perspective, your life can be divided into 2 primary phases:
Pre-Retirement: - (Your Accumulation Phase)
In this part of your life, you earn an income which you then use to provide for your living expenses and lifestyle and hopefully you also allocate some of the income to your Savings.
Post-Retirement: - (Your Savings provide for your Lifestyle needs)
In this part of your life, you no longer have an income and your Savings then become responsible for providing you with an income for the rest of your lives.
Based on a FULL understanding of your and your families needs and requirements, we then develop a tailor made plan for you, which will look something like this.
(The below is a case study and is for illustration purposes only.)
CASE STUDY :
Here is a very short summary of the family's position and lifestyle to put you in the picture:
The family we have described below is a Mum and Dad and 2 kiddies. Mum and Dad both work. The kiddies are at school and both plan to study after leaving school. Dad is 35 years old and Mum is 33. They plan on retiring at age 60.
Current Monthly Income:
Current Lifestyle Expenses
escalate at 2% above inflation
Provision made for future car requirements
Current Family Assets & Liabilities:
Monthly costs/ Contribution
The graphs below show the projected Nominal and Real capital Investment values for the family we have described above.
You will notice that they will be able to maintain their lifestyle and will have sufficient savings/Capital to last them through to age 90.
Doing these types of calculations for yourself will help you ascertain what you need to do to ensure that you are in a position to retire financially comfortable.
The outcome and benefits of your Planning.
You will be able to answer a number of critical questions such as:
- How much should I be saving right now and into the future?
- How much do I need to save in order to retire Financially Independent and Secure for the rest of my/our life?
- Am I currently on track to reach my financial Goals?
- What are the best ways for me to save?
- Do I need Risk cover and if so what type and how much?
- What Estate Planning should I be putting into place, based on my planning and wealth profile into the future?
- And many many other questions that you may have....