Financial Planning Jargon, Investments, Last Will and Testament, Life Insurance, Retirement

Did you plan for the road ahead?

With 2018 around the corner, it is a good idea to take stock of where your finances are currently, and where you want to be in a years’ time. It is a great time to consider your bases, as well as if there are any shortfalls. ( https://www.linkedin.com/pulse/playing-catch-up-michael-pfister/ )

Here are a few points to consider:

  • Will:  Do you have one? If so, does your family and relatives know where you keep it? Did you update it after your marriage/divorce/having kids? Is the will enforceable?
  • Emergencies: Do you have a safety net in case of an emergency? If not, do you want to start building a safety net? Do you know what your options are? Please visit the link to one of my previous articles: ( https://www.linkedin.com/pulse/how-prevent-playing-catch-up-michael-pfister/ )
  • Holiday plans: Will December 2018 be the same holiday as 2017? Will you make debt or save for it?
  • Children: Do you have a savings plan for them (or should I say to help you later…)?
  • Short term insurance: Do you have car and household insurance? When last did you update your values? Did you add your new camera, bicycle, Drone, Tag Heuer or any other item of value?
  • Long term Insurance: Do you have Income protection for when your unable to perform you job for longer than your chosen waiting period? If so, when last did you update your values? Do you have dependents, and did you make provision for them to live at the same standard as they do with you around, should you not be able to contribute due to a sudden demise? Will your family be able to give you a proper burial service or memorial?
  • Retirement: Do you have a plan? What does it consist of? What are your options?

We just tend to float by in life, year after year. Until we realize what we should have done….

Will 2018 be different? Or better?

Don’t regret the choices you make (or don’t make)!

Contact me should you need any assistance or advice Michael.Pfister@momentum.co.za

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(Originally published on 20 December 2017)

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