Make plans for retirement you want and deserve
Wealth manager can help work out how much money you need
Are you planning to retire soon?
You will need to find out how much money you may need for the retirement you want and whether you are on track to get there.
This will give you peace of mind that your money is working towards the retirement you want and deserve.
Taking an income in retirement
You have an option to take money from your retirement fund after the age of 55, but what is the best option for you personally?
Wealth managers will work with you to find the most taxefficient way to take an income from your retirement fund.
They can show you how much income you can afford to take each year and how long your money can last.
Are you on track?
A wealth manager will review your current savings and show you whether or not you are on track to afford the retirement you want.
They will forecast your future contributions and tell you if there will be a surplus or shortfall. If there is a shortfall, they can create a plan to help you get back on track.
Explore different scenarios
A wealth manager can run through different scenarios to see how your future finances could look if you change your plans.
You can see the effects of moving your retirement forward one year or reducing your annual spending.
You could also see how inflation or how stock market returns may affect your savings.
Managing your income tax bill
A wealth manager can help you to manage your income tax bill and avoid paying more tax than you need to during this period of transition. The first R500 000 of any lump sum you withdraw from your retirement fund at retirement is currently taxfree, but this includes any pre-retirement withdrawals.
Reviewing your plans regularly
You should review your plans as your circumstances change. For example, tax rules as well as the performance of your investments. A wealth manager can review your plans with you at least once a year.
Consolidate investments
You may not want to access your pension immediately, instead taking an income from other investments. retirees often end up unintentionally owning retirement savings products with lots of different providers.
It can be difficult to maintain a retirement planning strategy that meets your needs when your assets are in several places. Having all of your money with a single service provider can help you develop a comprehensive retirement plan.
Control over how your money is passed on
You have worked hard to build your wealth so it is natural to want control over how it is passed on. With families growing and relationships changing, your priority could be to make sure the money stays within your family. There are several ways to keep control over how your money is passed on.
Contact Inkunzi Wealth Group on 087-160-0018 or e-mail invest@iwgsa.co.za