Your financial futureCreate and protect your wealth the smart way.

You have big dreams. To make them come true, you work hard and seize opportunities, perhaps hoping for a few breaks along the way. You’ll also need resources like savings, assets and investments. That’s where financial planning comes in.

It’s about two things: creating wealth and protecting it. How do you do this?

First draw up a financial plan to determine how you’ll invest your assets and savings. Take into account your financial position and where you would like to be at the different stages of your life: getting married, having kids, retiring. Consider your tax status and how much risk you can handle. Spread your investments and diversify.

Now look at retirement. The ideal is to invest enough so your income some day will be around 75 percent of what your salary is now. This is called a replacement ratio.

Here are the important safeguards you need. There should be enough capital to generate an income if you lose your job and to cover the cost of severe illness. You need medical aid for emergencies or time in hospital and insurance against fire, theft or damage.

There are more things to plan for. Ask yourself if you’ve saved enough for big expenses like your children’s education. To provide for them when you’re gone, you need a valid will with clear instructions on how your assets should be divided. Revise the will when laws and your circumstances change.

At any stage of your professional life, financial planning requires serious thought and the right information so you can make good decisions. An Old Mutual consultant will work with you, advising you on options in your unique situation. Contact us today. Let’s start planning together for your bright financial future today.