Page 25 - Waterfall City Issue 2 February 2023
P. 25
Speak to an adviser
A financial adviser will guide you in
identifying your investment gaps
and formulate plans on how to meet
them. A retirement plan needs to be
robust, yet flexible enough to meet
your retirement objectives practically
and realistically. Part of this will entail
understanding the gap between your
current plan (if you have one), and
the one that will deliver the desired
retirement outcomes.
This may include understanding
investment shortfalls ranging from
Nirdev Desai, Head of Sales at PSG Wealth capital saved up so far, to ensuring the
appropriate allocation to growth assets,
“Investing in your including suitable diversification over
retirement plan implies asset classes, sectors and geographies,
and currency risks, to name a few.
making a long-term
commitment.” Revisit your retirement plan
as your needs and goals
change
It is important to ensure you embark
on this journey with a financial planner.
Having an objective viewpoint will
ensure that you don’t fool yourself on
whether your plan will be sufficient for
your needs. As you go on the journey of
saving for retirement, your needs and
goals may (and most likely will) change.
Your financial planner will be able to
adjust your plan to realistically fit your
circumstances as they change.
Don’t look at your portfolio
too often
You will likely have a substantial
allocation to growth assets – such as
equities – in your portfolio. While these
The hardest part (as with anything Have true introspection into what deliver handsome returns in excess of
worth doing) is to start committing your retirement will look like with inflation, they are more volatile than
to a retirement plan. The second the various scenarios you may more conservative asset classes like
hardest is remaining committed. have to face. Next, visualise these cash. It is crucial to understand their role
Building healthy habits takes time, scenarios, and choose the one that in your plan to deliver those inflation-
and just like committing to a new matches your desired outcomes. beating returns. Give them sufficient
diet or exercise regime, it will take A comfortable retirement will time to deliver those returns so you’ll
willpower to see your plan through to certainly mean a tighter budget be rewarded with the full benefit of the
completion. today. Also keep in mind and effect of compound growth.
understand the alternatives or what
Understand your investment kind of support you may need from The best time to start was yesterday,
journey family, your community and the but the next best time is today – carpe
Establish where you are now state should your retirement capital diem! Understand your reality and plan
compared to where you need to be. run out. to reserve your place as part of the 6%.
Waterfall City Issue 2 2023 23
