Be prepared: retirement not for sissies
The more we are prepared for ageing and retirement, the better will be our lifestyle.
The Mossel Bay Business Chamber (MBBC) recognised the need and organised a highly successful Effective Retirement seminar on 16 September at the Diaz Hotel.
A group of excellent, highly qualified speakers shared valuable knowledge with the audience and the master of ceremonies, Herman Labuschagne from Oudtshoorn, knitted the information together with witty comments and meaningful summaries.
Apart from the financial planning aspects, the speakers also touched on wills, trusts, curatorship, lifestyle developments, municipal plans, medical facilities and funerals. AVBOB’s Manfred Jacobs had the audience in awe with the sharing of the latest technology on departure – aquamation as an alternative to cremation. This is a much more eco-friendly alternative. Alkalis made from a combination of sodium and potassium salts are used. Jacobs said: “We are the last to let you down.”
Staying on the topic of water, Amanda Goosen from Gozone/DEW Tech introduced the audience to the atmospheric water generator. This is the process of harvesting water vapor from the air to make healthy drinking water.
A large percentage of people die without a proper will in place. This creates endless problems for those left behind. The best way to protect your inheritance is to get a competent person to draw up the will. According to Anna-Marie Pretorius of Oosthuizen, Marais and Pretorius Attorneys, a well-drawn up last will and testament will maximise your assets, minimise estate fees and make the administration of your estate less stressful. Similarly, curatorship is the best way to protect the assets of a person not able to handle his own affairs.
Johan Lochner, a wealth adviser at PSG, recommended that people invest in properties and shares from a young age. He stressed that a good, structured financial plan, with the input of an expert, was most important when starting to invest.
Fanus Truter from Moore highlighted the benefits of having a family trust. These include continuity and the protection of assets against creditors or claims, the future marriage of a surviving spouse, children who want to access assets and yourself, should you become mentally impaired.
The WGA Wealth Group’s Wim van Zyl discussed how to mitigate risks in small to medium businesses. He touched on the importance of cashflow management, business interruption cover, buy-and-sell agreements between business owners, insuring credit loan accounts and insuring business owners who signed surety for bank loans in their personal capacity.
“You get what you negotiate,” emphasised Kelly Fourie, an attorney, conveyancer and board member of the MBBC. She spoke on contracts and homeowners' associations. She stressed the importance of thorough reading and negotiating before signing.
She also summarised the differences between property options for retirees moving to a lifestyle or retirement estate.
Cape Estates' Leo-Heyns Nel, part of the development team of Renosterbos Estate, said: "People live longer, families are smaller and scattered and retirees need an active lifestyle in a safe and connected environment. Lifestyle estates such as Renosterbos, Welgelegen and Kraaibosch Park offer the perfect solution, here in the Garden Route."
According to the director of Planning and Economic Development at Mossel Bay Municipality, Carel Venter, there has been significant investment in the retirement market in Mossel Bay. Second dwellings have become a permanent residence for owners after retirement and there is also a substantial growth in security estates with accompanying frail care units for retirees.
On the medical side, Arie Kadé, manager of Vidamed Day Hospital, spoke about the misconception people have about day hospitals and sub-acute units and the advantages these offer. Vidamed offers costeffective, safe alternative options for sameday procedures and 24-hour medical care and rehabilitation in the sub-acute unit after a stroke or a replacement operation.
A vehicle to transport wheelchair-bound people on outings was on show and the staff of Seesig Motors demonstrated how easy it is to hoist a wheelchair into the vehicle.