Making better choices
is not always this easy

 

Newsletter Archive

Four Ways to Make the Most of Retirement

Posted On: Sunday, July 2, 2023

Four Ways to Make the Most of Retirement

“The greatest task for ANY person is to find meaning in life.” (Victor Frankl)

Retirement. The word conjures schmaltzy images of silver-haired men in tailored suits, sipping coffee from small cups while gazing out of the window at an expensive view. Or an immaculately coiffed woman laughing on the golf course as if she has just heard the funniest joke in the world.

That’s not real retirement. Real retirement is sometimes being bored at home. It’s anxiety about your health or whether your savings will last. Maybe a sense of being disconnected from the world. Of course, there might also be occasional travel, reading, sleeping in and long walks on the beach… The point is that it’s not just a bed of roses – it’s a complex phase of life.

As a financial planning practice, we help retirees look after their money. To structure investments that will ensure quality of life for decades after the pay cheques stop rolling in. Indeed, there is no shortage of financial advice for the silver-haired man with the small coffee cup! But what about how he’s feeling? As life expectancy increases, there’s an increased need to openly discuss retirement's psychological and practical concerns with your financial planner.

We believe that your relationship with your financial advisor shouldn’t just be about money because money is really just a tool to help you get the most out of life. Here are four ways to find fulfilment in your golden years.

  1. Continue to work – or volunteer

    Being retired doesn’t mean you have to stop working completely. What it does mean is that you can work on your own terms. Consult in your field. Mentor young people. Let your former colleagues know that you’re still available for a chat. Retirement need not be a switch that is turned from ‘on’ to ‘off’. Many of our clients have tapered their retirement and eased into a less stressful and more rewarding way of life. Doing it this way gives you time to get used to extended periods of free time while still feeling a sense of self-worth and purpose. Obviously, there are some careers where retirement actually is an ‘off’ switch. If working is no longer practically viable, consider volunteering. Non-profit organisations around the country are desperate for the kind of expertise that only comes from decades of experience in a particular field – education, architecture, logistics… Even if you only apply your horticultural skills by volunteering at your local botanical garden, you’ll be getting out there, meeting new people and staying involved.

  2. Focus on your health

    You might have all the money in the world, but gaining a fulfilling retirement is more challenging if your health is compromised. Prioritise exercise, even if it’s just a walk around the block once a day. Find a GP you can trust and go for your check-ups.

    Chat to us about your medical aid and whether it might be worth upgrading to a more comprehensive plan that will cover you better into old age. By prioritising health, you’re taking proactive steps towards happiness in retirement.

  3. Be generous

    One way to say thank you for the life you have been privileged to live is to give back while you’re still alive so that you can witness the joy your gifts bring. Maybe you want to portion out some of your estate to your grandchildren via a living bequest to give them a jump start. Donation tax considerations exist when doing this, but it can be very rewarding. Speak to us to ensure that you can afford donations.

    Or maybe you want to do something about the desperate inequality in South Africa – by donating to a non-profit that does exceptional work or by starting a trust with philanthropic intentions? This is also possible and can be tremendously rewarding.

  4. Never stop learning 

Keeping your brain active in retirement is just as important as keeping your body active. Continue to read and discover new things, and the world will remain full of wonder – no matter how old you are. You could even sign up for an online course. There are hundreds, if not thousands available in just about any field you can imagine. If you’ve always been a history buff, take a course detailing the period that fascinates you. Or do something more practical, like a photography course, and make that next trip to the Kruger Park even more memorable.

The bottom line

A happy retirement requires effort. We know all about it and we’re here to help – not just by getting your finances sorted but also to guide you into this new phase of life. Give us a call, and let’s set up a chat. 

Please Register Below Or Login To Continue Reading.

Email
First Name
Last Name

2024

November 4 - Market Update: Reasons for SA Investors to Be Hopeful?
November 3 - Evolving Wealth Part 1: Gen Z, Trailblazers of the Digital Investment Era
November 2 - Why the Rand Shouldn’t Be Your Main Reason for Investing Offshore
November 1 - 6 Winning Strategies That Top Investors and Elite Endurance Athletes Share
October 4 - Market Update | US Election Is Too Close To Call, so Expect Market Volatility
October 3 - How Rand-Cost Averaging Could Help You
October 2 - From Vows to Verdicts: What Happens to Your Will After Divorce?
October 1 - With Gold at Record Highs, Should You be Investing?
September 4 - Market Update: Christmas in September if Rates Come Down as Expected
September 3 - Why You Should Keep Your Investment Strategy to Yourself
September 2 - Aligning Your “Wheel of Life” – A Beginner’s Guide
September 1 - The Big Question: Should You Buy a Home or Rent One?
August 4 - Market Update: Magnificent Seven Lose Their Magnificence in July
August 3 - Unsung Heroes of Insurance: Four Types That Could Save You Money
August 2 - Do You Recognise Yourself in Any of These Client Case Studies?
August 1 - Three Pot System 101: What You Need to Know Before 1 September
July 4 - Market Update: Financial Markets Welcome GNU 2.0 and New Cabinet
July 3 - Busting the Post-Retirement Jargon
July 2 - Safeguard Your Money: Look out for Phishing Scams
July 1 - Why the Marshmallow Effect Could Derail Your Retirement Plans
June 4 - Why Emotions and Investing Don’t Always Mix
June 3 - Demystifying Retirement Planning Lingo
June 2 - The Sandwich Generation: How Can You Deal with Family Always Asking You for Money?
June 1 - How the Elections May Impact Markets in the Months Ahead
May 4 - Market Update: Geopolitical and Economic Risks are on the Rise and Investors are Concerned
May 3 - Need to Know: Annualised Returns Versus Internal Rates of Return
May 2 - Investment Jargon 101: Your One-Stop Primer
May 1 - Do You and Your Partner Share the Same Money Values?
April 4 - Market Update : Will They, Won’t They? The Case for Lower Interest Rates Improved in March.
April 3 - Unpacking Diversification: What Really Counts?
April 2 - Zen and the Art of Financial Planning
April 1 - The Secret to Solving the Financial Rubik’s Cube? Consistency.
March 4 - Market Update: Initial Investor Vote of Confidence Dissipates in Wake of Budget
March 3 - The Most Important Part of a Financial Plan: Room for Error
March 2 - Diversification: Free Lunch or Fool’s Gold?
March 1 - Budget 2024: What it means for you
February 5 - Budget 2024: The Minister of Finance Wants to Hear from You!
February 4 - Market Update: US and SA Markets Diverge on Differing Investor Sentiment
February 3 - Tax Tip: Must-Do Top Ups in February
February 2 - Should Investing Be This Sexy?
February 1 - Is There Really Much Difference Between Investing and Gambling?
January 4 - Market Update: What Lies Ahead for 2024?
January 3 - Think You’re a Rational Investor? Think Again
January 2 - Did 2017 Change the Way You Invest?
January 1 - How to Avoid Getting Burnt by the Next Investment Bubble in 2024

2023

December 4 - Stock Markets Break Three-Month Losing Streak
December 3 - The Differences Between Life and Living Annuities
December 2 - Should you be an Optimist or a Pessimist With Your Money?
December 1 - How to Give Meaningful Gifts This Festive Season
November 4 - Market Update: The Effects of War, Higher Interest Rates and China on Equities
November 3 - Why do People Invest in Property?
November 2 - Retirement Planning: The ins and Outs of Nominating Beneficiaries
November 1 - Retiring Well is About More Than Money
October 4 - Why Your Marital Contract Really Matters
October 3 - How to Avoid Being Scammed by Email Fraudsters
October 2 - The Stock Market Indices to Watch When Monitoring Equity Performance
October 1 - Why do Some People Have a Problem Spending Money?
September 4 - The Difference Between Being Rich and Being Wealthy
September 3 - The Ins and Outs of Buying Offshore Property
September 2 - A Good Budget Doesn’t Limit Spending, it Prioritises it
September 1 - Should you pay off your home loan?
August 4 - How to Take Advantage of the Donations Tax Allowance
August 3 - Five Reasons why a Financial Windfall Must be Managed Carefully
August 2 - What’s Cooking with the Three-Pot System?
August 1 - Make Sure Your Family is Financially Prepared for When You Pass Away
July 4 - A Must-Have for Couples who Choose not to Tie the Knot
July 3 - Can Gratitude Make you Feel Better About Your Money?
July 2 - Four Ways to Make the Most of Retirement
July 1 - How to Invest When There’s So Much Bad News
June 4 - The Ins and Outs of Compulsory Annuities
June 3 - Who is Influencing Your Financial Decisions?
June 2 - R is for Rebalancing
June 1 - Don’t let Money Ruin Your Relationship
May 4 - Five Ways to Teach Kids About Money
May 3 - Much Ado About Risk
May 2 - Living Wills: A Must Have, Despite the Grey Areas
May 1 - What is True Wealth?
April 4 - How the 2023 Budget Will Impact Your Pocket
April 3 - Three Financial Imperatives for Women in Divorce
April 2 - Should You Ask ChatGPT for Financial Advice?
April 1 - Compound Interest: The Eighth Wonder of the World
March 4 - How a ‘Safe’ Fixed Deposit Might Still be Risky
March 3 - Thinking of moving to Australia? Bear these numbers in mind
March 2 - Avoid These 6 Barriers to Wealth Creation
March 1 - How Good do You Think You Are at Investing?
February 4 - Is Money Stress Taking a Toll on You?
February 3 - Why an Endowment is One of the Best Ways to Invest Offshore
February 2 - Why too Much of a Good Thing Can be a Bad Thing
February 1 - Invest With FIRE and Never Look Back
January 4 - Why Lottery Winners End up Broke: The Importance of Your Financial Context
January 3 - Discover the Freedom of a Tidy Portfolio
January 2 - Why You Absolutely Should be Investing in Education
January 1 - Four Simple Steps to Start the Year on the Right Financial Foot

2022

December 4 - What is This Volatility Risk People are Always Talking About?
December 3 - Why You Need to Watch Out for The Butterfly Effect
December 2 - 6 Ways to Achieve Financial Freedom
December 1 - Three Books for the Holidays
November 4 - The Question of Loyalty
November 3 - Why do we Even Have Bull and Bear Markets?
November 2 - Should I Buy a Holiday House?
November 1 - Put Stocks, Rather Than Socks, Under the Tree This Christmas
October 4 - Can You Take Out Life Insurance on Someone Else?
October 3 - Loss Aversion and Lifestyle Creep – How Behaviour Influences Saving
October 2 - Why Timing Might be Everything in Retirement – Especially in a Bear Market
October 1 - Get Rich - Stay Rich Eight Mistakes Wealthy People Never Make
September 4 - Capital Gains Tax: 10 Common Questions Answered
September 3 - The Risk That Many Investors Don’t Think About
September 2 - Much Ado About Regulation 28 and the Private Investor
September 1 - The “Two Bucket” Retirement Savings System: What is it and Why is it Important?
August 4 - Retirement Planning for Age-Gap Couples
August 3 - A Simple “50-15-5” Budget Hack for Women (and Men!)
August 2 - Does Your Family Need a Constitution?
August 1 - Women’s Month: Three Ways You Can Improve Your Money Health
July 4 - Five Things to Check When a Loved One Passes Away
July 3 - Rules of Financial Planning For a Special-Needs Child
July 2 - Why Your Financial Plan Should Cater For Possible Dementia
July 1 - Why Inflation is the Most Important Investment Benchmark
June 4 - How Relevant Is The 4% Rule of Thumb These Days?
June 3 - Why You Should Treat Your Finances Like Your Health
June 2 - Is Your Business Good Retirement Capital?
June 1 - With the Limits Raised, How Much Should You Invest Offshore?
May 5 - Quote of the Month: Challenging the Rejection of an Insurance Claim
May 4 - Financial Products: The Less You Understand, the More You Pay
May 3 - The Miracle of Investment Debit Orders
May 2 - Five Things to Think About as Interest Rates Rise
May 1 - Stay Calm When the Bear Prowls
April 5 - Quotes of the Month – The War in Ukraine
April 4 - Smart Ways to Give: During and After Your Lifetime
April 3 - Take These Three Steps to Break the Money Shame Spiral
April 2 - When Things Don’t Go According To (The Financial) Plan
April 1 - What Amazon and Ford Can Tell Us About Diversification
March 4 - Quotes of the month – What the NFT?
March 3 - How to Avoid Losing Your Life’s Savings to a “Tinder Swindler”
March 2 - The Different Ways to Invest: What Does It All Mean?
March 1 - Three Reasons You Shouldn’t Wait to Talk to Your Kids About Money
February 6 - Quote of the Month – Don’t Cash In Your Retirement Savings
February 5 - Should You Top Up Your Retirement Annuities Now?
February 4 - Don’t Let Delays in the Master’s Office Leave Your Family in Financial Distress
February 3 - Don’t Let Delays in the Master’s Office Leave Your Family in Financial Distress
February 2 - Three Reasons an Insurer Could Cancel Your Policy
February 1 - Investing: Men and Women See Things Differently
January 4 - Quote of the month – Stay invested!
January 3 - What SARS Says About Crypto Assets and Tax
January 2 - Three Ways to Leave a Legacy, And Not Just an Estate
January 1 - Red-Carding the Myth of The Rational Investor