Are you a public servant considering early retirement?

2019-03-20 06:01

All people face certain risks in retirement – arguably the biggest risk being inflation.

When you are no longer earning a salary, it is more important than ever that your money is invested correctly to allow it to grow, provide a sustainable income and keep up with inflation. We all have personal goals, dreams and unique needs – and most times, fulfilling these requires money.

Have a plan

If you are considering early retirement, you need a plan – not just for your investments – but a plan for how you are going to use your free time.

The funds that you have available, and your health, will dictate your daily activities.

Retiring as a public servant

If you have less than ten years’ public sector service, you will receive a cash lump sum that is taxable. If you have more than ten years’ public sector service, you will receive a taxable cash lump sum with a monthly income.

Your lump sum needs to provide you with a sustainable, monthly income for the rest of your life or top up your go­vernment pension.

There are options to conti­nue to grow your capital amount invested, while provi­ding a monthly income. Some of these options let you leave a legacy to your dependants.

You may also choose a vehicle that guarantees your income for the rest of your life.

In next week’s article we will discuss some of these investment options in more detail.

Advice is critical

In many cases, combining retirement income products may produce a better outcome. At Glacier, we encou­rage those considering early retirement to meet with a qualified financial planner who can take an objective view of your circumstances and help you construct a plan to meet your specific needs.

Find out more

Jenwil BlueStar Financial Advisory Services and Express will host a conference on 10 April in Bloemfontein, where the options available to you will be discussed in more depth.

Dinash Pillay of Glacier by Sanlam will be a guest speaker and will answer any questions attendees may have. Attendance is free of charge, but booking is essential.

For more detail or to book, call Heather van Niekerk on 051-447-0463 or send an email to office@jenwil.co.za. – Annalise De Meillon­Muller, Glacier by Sanlam

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