Secure Your Future
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Why Save for Retirement?
the importance of retirement savings
Saving for retirement is crucial to maintaining your lifestyle and covering increasing medical costs as you age. Without sufficient savings, you may face significant financial challenges, including the need to downsize your home or even delay retirement altogether. Ensuring you have a steady income after you stop working is essential for a comfortable and secure future.
By planning and saving early, you can avoid the stress and uncertainty that comes with inadequate retirement funds. It’s never too early to start preparing for the future, and the sooner you begin, the better positioned you’ll be to enjoy your retirement years.
How Much Should You Save?
optimal retirement savings strategy
Experts recommend saving at least 15% of your pre-tax income for retirement. Starting early, ideally in your mid-20s, and consistently saving this percentage can help you replace around 75% of your income in retirement, allowing for a comfortable lifestyle. The key is to remain disciplined and make retirement savings a priority throughout your working life.
Consulting with a professional Financial Adviser can provide personalized insights and strategies tailored to your financial situation. A well-structured plan can help you achieve your retirement goals and ensure you have the necessary funds to support your desired lifestyle.
Explore Liberty Life Retirement Plans
envestpro offers a diverse range of Liberty Life retirement plans tailored to meet your unique retirement goals. Whether you are looking for stability, growth, or a combination of both, there is a plan designed just for you. It is crucial to select the right retirement plan to ensure a comfortable and secure future.
Our plans are designed to adapt to your changing needs and financial circumstances. By choosing the right plan, you can enjoy peace of mind knowing that your retirement savings are in good hands. Speak to an envestpro Financial Adviser or broker to get personalized advice and find the plan that best suits your retirement aspirations.
Don’t leave your retirement to chance. Take control of your future today by exploring the various retirement plans offered by Liberty Life. Our experts are here to guide you every step of the way, ensuring that you make informed decisions that will benefit you in the long run.
understanding pension and provident fund preservers
A Pension or Provident Fund Preserver is an investment vehicle designed to help you save towards your retirement in a tax-efficient manner. These preservers allow you to transfer the proceeds of your pension or provident fund when you switch jobs or are retrenched, ensuring that your savings continue to grow.
By investing in a preserver, you retain the tax benefits associated with your retirement savings and protect the funds you have accumulated during your employment. This makes it an excellent option for those looking to secure their financial future.
Visualize your retirement goals with our range of images that depict the journey of saving and investing for a comfortable retirement. Let these images inspire you to take the necessary steps towards a secure and prosperous future.
Benefits of Investing in a Pension or Provident Fund Preserver
The Exact Income Fund guarantees a fixed retirement income from the moment you invest, providing you with financial certainty. This unique portfolio ensures that your retirement income is secure and predictable, allowing you to plan your future with confidence.
High-Water Mark Guarantee
The High-Water Mark Guarantee protects 80% of your portfolio’s best investment performance at the end of each quarter. This guarantee locks in your highest returns, ensuring that your investment is safeguarded against market fluctuations. At the end of the five-year guarantee period, your investment receives a top-up if the value is below the guaranteed level.
Investment Portfolio Choices and Aggregation Benefits
Liberty Life offers a wide range of investment portfolios from top asset management companies, giving you the flexibility to choose the best options for your retirement goals. Additionally, our aggregation feature combines the values of multiple qualifying Liberty investments to reduce your overall platform fee, maximizing your retirement savings.
Investing in a Pension or Provident Fund Preserver
understanding the process
Investing in a Pension or Provident Fund Preserver is a strategic move for securing your financial future. To start, you must transfer funds from an approved pension or provident fund, ensuring the transfer is tax-free. This preserves the tax benefits you’ve accumulated. The minimum lump sum investment required is R 150,000, with additional investments starting at R 15,000. This process ensures that your retirement savings continue to grow in a tax-efficient manner, providing you with peace of mind as you plan for your retirement.
costs of investing in a pension or provident fund preserver
When investing in a Pension or Provident Fund Preserver, it’s essential to understand the associated costs. These include portfolio fees, platform fees, and guarantee charges if you opt for additional guarantees. Additionally, there are initial advice fees and ongoing advice fees for your financial adviser. These costs can impact your overall returns, so it’s crucial to factor them into your investment strategy. For a detailed breakdown of these fees and how they affect your investment, consult with a Liberty Financial Adviser or Broker.
Understanding the costs involved helps you make informed decisions about your retirement savings. By discussing your options with a professional, you can ensure that you choose the most cost-effective and beneficial investment strategy for your needs. Don’t hesitate to reach out to a Liberty Financial Adviser or Broker for personalized advice and a comprehensive quote.
get expert advice today
Ready to take the next step in securing your retirement? Speak to an envestpro adviser or broker today. They can provide you with detailed information about the benefits, definitions, guarantees, fees, tax implications, limitations, charges, premiums/contributions, and other conditions and associated risks. Request a personalised quote and start planning for a financially secure future with envestpro.
The fine print
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All envestpro group affiliates that provide financial services are fully authorised under the FAIS Act. Any legal, technical, or product information provided here should not be interpreted as advice
from envestpro. No guarantees, warranties, or commitments, whether explicit or implied, are made, and envestpro assumes no responsibility or liability..