T

CityPress - - Business -

he latest an­nu­i­tant mor­tal­ity data re­leased by the Ac­tu­ar­ial So­ci­ety of SA re­veal that the av­er­age life ex­pectancy of a 65-yearold South African who has an an­nu­ity is 86 for women and 82 for men – in other words, a woman who is 65 to­day can ex­pect to live to the age of 86, four years longer than the av­er­age man.

This means women need to take their longevity into ac­count when draw­ing up their fi­nan­cial plans. How­ever, this is just one fi­nan­cial plan­ning fac­tor that is spe­cific to women. This Women’s Day, we look at three fi­nan­cial plan­ning sce­nar­ios for women in dif­fer­ent life stages.

Tumi Mothoa­gae, head of cus­tomer re­la­tion­ship man­age­ment at Lib­erty, says: “Fi­nan­cial plan­ning is al­ways some­thing that is unique to ev­ery in­di­vid­ual. There is no one-size-fits-all ap­proach, and just as you can get a tai­lor-made dress or work suit, your fi­nan­cial plan should be tai­lored to your needs.”

She supplied the fol­low­ing three ex­am­ples of fi­nan­cial plan­ning per­spec­tives that need to be taken into ac­count for women in dif­fer­ent life stages with dif­fer­ent fi­nan­cial needs:

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.