During the past 17 years, Chartered Wealth Solutions’ retirement planning process has evolved from simply recommending different retirement products to crafting individually tailor-made retirement solutions for each client. Through experience we have learnt first to focus on clarifying a client’s lifestyle requirements in retirement so that we are able to structure their financial matters to cater for their particular lifestyle and goals.
This has led to our introducing what we refer to as “Life Planning” into our retirement plans to emotionally support clients as we guide them through one of the most difficult transitions they are ever likely to experience.
What is Life Planning? View the video below:
Discover describes a process of exploring with you your life’s journey thus far, and together considering your plans for the road ahead. This is done both for your benefit as well as for ours.
The Discover process enables you to explore a little deeper what it means to retire and gives you insight into how your life will change.
It in turn creates the opportiunity for us to get to know you a little better so that we are able to understand the particular journey you have undertaken through life. As we come to understand your unique set of values, your outlook on life and your as yet unfulfilled dreams, we are better placed to help you get to where you still want to go, and are then able to assist you in structuring your finances to suit you and your desired lifestyle.
It’s also important for us to know what’s on your “bucket list” (your “to do” list in retirement). For example:
- Would you still like to visit a particular destination, such as one of the Seven Wonders of the World? or
- Do you have family and friends abroad who you would like to visit regularly?
We have developed a unique set of tools to help you clarify what you want out of retirement so that you embrace it with enthusiasm and passion as you are able to fulfill your dreams and desires without having to worry too much about financial constraints.
While everybody retires with different amounts of money at their disposal, all however retire with the same amount of time to spend each week of their retirement … 168 hours. When you look at retirement in terms of time you have to spend, you see that your financial wellbeing is only one vital ingredient of a well-balanced retirement.
To assist our clients to achieve a well-balanced retirement, we have pioneered one of South Africa’s first retirement lifestyle websites called Retire Successfully. It features articles that provide information, insight and inspiration, and has been launched as a gift to our clients and the community.
Most people, when asked where they start when building a jigsaw puzzle, have the same answer – the corners or the sides. What they forget is the critical step of studying the picture on the puzzle’s box. At Chartered Wealth Solutions, we do our best to get a clear view of the picture on the box of your life’s puzzle so that we can confidently start putting the right pieces in the right places and align your finances with your lifestyle and your dreams, desires and goals. As retirement experts, we make it our business to understand exactly where to put each piece of your puzzle rather than randomly shuffling them around in the hope of a reasonably acceptable outcome.
The purpose of undertaking a planning exercise with you is to give you the financial confidence to pursue your dreams. This confidence comes from knowing how long your retirement investments are likely to last given what you want to do with your life, what assets you can expect to leave to your family, and what assets are surplus and unlikely to be used in your lifetime.
There are three categories in your total investment strategy. The first, Lifestyle Assets, includes your home and your car. The second, Retirement Assets, includes your pension/provident funds, retirement annuity, etc. The third, Surplus Assets, includes your holiday home, boat, etc. Each category in your total investment strategy needs a different investment strategy and we have to ensure that this strategy and the rest of your plan are as tax efficient as possible.
Chartered Wealth Solutions’ Director Barclay Hoar discusses retirement assets:
To ensure your financial wellbeing, we help you implement your plan, your investment strategy and your estate planning (if required), making sure that your will is up to date and that, should you have one, your family trust is utilised efficiently and reviewed on an ongoing basis.
Once all the discovering and planning has been completed, you are empowered and equipped to live life to the full, and it is our passion to help people live the best possible lives in retirement. We believe retirement should therefore include, rather than exclude, some form of meaningful activity – what has traditionally been referred to as work. The beauty of it all is that, with your finances already taken care of, you are now free to undertake what ever activity you wish, without being limited to it necessarily being done for monetary gain.
By undertaking the Discovery and Plan processes, we aim to give every client the financial freedom and confidence to pursue their goals as and how they wish. It is with this end in mind that we look forward to every one of the client reviews we have with our clients. We share with you your desire to tick off every item on your bucket list, so we fine tune the critical calculations to make very sure that adequate provision is still in place to fund every item still on your list.