retirement planning
The risk of one’s annuity income not keeping pace with inflation is another major risk that retirees need to contemplate, especially as medical inflation continues to outstrip consumer inflation by around 4% year-on-year.
As opposed to an investment in property, life rights ownership is an investment in lifestyle, security and peace-of mind, but it is important to understand the legal and financial consequences of buying into such a scheme.
Because women generally live longer than men, there is a very real chance that women will find themselves living alone for a period in their retirement, and this needs to be accounted for in one’s retirement plan.
Think disability and our minds tend to think of the worst possible scenarios involving permanent injury and disfigurement. Rather than permanent disability, it is temporary disability or illness that we should in fact be more concerned with.
In trying economic times, channelling funds towards a long-term investment may require some budget manipulation – which is easier to undertake if you consider the ultimate goal of retirement on your own terms and in your own time.
If you have to keep on working for financial reasons, bear in mind that your health is quite literally your wealth. Besides for the medical costs that come hand-in-hand with an injury or illness, time off work and the resultant
