Match, Hatch, Detach & Dispatch

When it comes to life transitions, some of the major changes that affect one's finances are:

1. Getting married or moving in with a signifiant other (Matching),

2. Having children (Hatching),

3. Retirement (Detaching) and

4. Dealing with the death/s of loved ones (Dispatching)

Over the next few blogs, we will be discussing these life transitions and how you can make the most of your money during these beautiful but overwhelming life stages, as well as how you can prepare your assets to make your 'dispatch' (untimely or in old-age) as easy as possible for those you leave behind.

Here's what you can expect in the coming weeks!:

MATCHING

It happens too often that heart-eyed newly-weds floating on "Cloud Nine" suddenly find themselves on the floor at the first sign of monetary issues. This is why we believe it is vital to ask couples the hard questions around money at the "Engaged" stage, making sure they are on the same page and have the same economic goals and principles.

Here we will discuss areas such as:

• Debt & Credit ratings

• Money attitudes and management

• Money goals

• Financial fears, Types of Marriage and ANC

• Retirement plans

and the different ways that couples can navigate these topics and make decisions together.

HATCHING

We are all aware in some way of how much change comes with bringing new life into the world.

Most of us have been told how expensive a child is, but no one really prepares you for how the management of your finances and affairs should

be adjusted to manage this transition.

In this area, it is important to know:

• What happens if I don't have a will?

• What changes do I need to make to my will now that I have a child/children? (And if I don't already have one - what needs to be included?)

• Education & Future savings funds.

• How do I protect my minor children upon my death, and how do I create provisions for this?

• What is a guardian?

DETACHING

In the words of Tony Harper, "Retirement is not a relative exercise, but rather an absolute one." Your retirement plan should be about how much you need to retire comfortably, to maintain your lifestyle, and to continue to enjoy the pleasures of life. Naturally, it is best to work with a financial planner that will partner with and guide you on this sometimes daunting journey.

Time is the key ingredient for a successful retirement plan - the earlier you start, the longer you will benefit from interest growth. In this area, we will discuss topics such as:

• How much is enough to save for the goals you have for your retirement?

• If you have a plan - are you contributing enough? Can you make additional contributions?

• What is an RA and how can it benefit me and my retirement plan?

• Investment options and savings contributions you can make.

• Factors that affect the timing of your retirement and, ultimately, how long your money will last you.

DISPATCHING

The importance of drafting and maintaining a Will can never be taken for granted - but when do we ever hear about this from the view of the dependents or surviving family?

A Will ensures the security of your legacy, allowing you to live a stress-free life knowing that upon your death, your loved ones will not be swept up by the chaos that ensues when one does not have a Will in place.

In this area, we will be covering areas regarding how one continues once they have lost a loved one, and how you may make this easier for your dependents.

These will include topics such as:

• Why do I need a Will? Why does my partner/loved one need a Will?

• How long has it been since I updated my Will?

• Why is it necessary to update my Will?

• How will I survive if I lose my loved one?/How will my loved ones survive if they lost me?

• How will assets be transferred to me?/How will my assets be transferred to my loved ones?

• How do I make it easier for my dependents while my estate is being wound up - a sometimes years-long process?

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Since our first two topics involve partnership, we thought it fitting to offer 10 free couple's consultations with one of our advisers on a first-come first-served basis.

Don't miss out - Get in Touch today to secure your financial dreams as a team.

If you would like to be notified whenever we release a blog, you can subscribe to Finflash here, or Contact Us to speak to one of our advisers about your plans today!