In 2024, we are entering into a world facing many uncertainties—from pivotal national elections (involving over half the global population), to escalating conflicts, soaring interest rates not seen in four decades, and a rapidly changing technological landscape. These factors contribute to a climate of unpredictability that can fuel anxiety, indecision, and hasty choices.

In South Africa, the upcoming 29 May polls hint at a much-needed shift in our political landscape, with the possibility that our ruling party will secure less than half of the national votes. This comes amid a contracting stock market and social and economic hurdles unprecedented in recent history.

Such uncertainties can provoke impulsive, sometimes irrational, decisions with lasting impacts on financial security for individuals and their families. Through our corporate workshops, we frequently encounter financial concerns driven by emotion rather than strategic planning. Common queries include retirement savings adequacy, investment health, offshore savings, life insurance coverage, and estate planning. Our consistent advice? Develop a plan. The process we follow at Chartered to develop your plan clarifies these questions, ensuring peace of mind and stability for you and your loved ones.

Planning for the Life You Choose

The first step to developing a plan is Life Planning. Life planning involves envisioning different expected and unexpected life scenarios to help you navigate your financial journey. Integrating these elements creates a holistic plan that fosters security, stability and a fulfilling and meaningful life. Ultimately, life planning empowers you to define your ideal life. By understanding your aspirations, you can make informed financial decisions that bring your vision to reality.

Building scenarios

Building scenarios and investing accordingly is crucial. While the future is uncertain, establishing a financial framework aligned with your Life Plan enables sound decision-making. Your chosen path will inevitably shift with life’s changes, necessitating periodic reviews and adjustments to your plan. This approach encourages informed decisions over emotional reactions. Typically, your core investment strategy remains steady as we fine-tune your plan, facilitating active wealth growth and the realisation of long-term objectives. At Chartered, we acknowledge market dynamism, balancing growth with risk management to optimise your investment outcomes over time.

Estate Planning: Safeguarding Your Legacy

Planning for life’s end is as crucial as planning for life itself, yet it remains a commonly overlooked aspect. Should the unforeseen happen, an estate plan ensures your family is prepared for the next steps without the burden of uncertainty. By making critical decisions now, you can avoid unnecessary costs and taxes, and spare your loved ones from making tough choices during a difficult time.

A comprehensive Estate Plan is the cornerstone for drafting a Will that truly reflects your wishes and outlines the execution of your legacy. Our Legacy team’s extensive experience in settling estates highlights the value of integrated support—from financial planning to Will drafting, estate administration, and tax advice—all seamlessly provided under one roof.

Regrettably, the obligation to pay taxes persists throughout one’s lifetime and extends even beyond, with additional taxes being levied posthumously. Our Chartered Tax team ensures compliance in life and continuing in death. Your estate’s obligations, including tax returns and payments, continue until final settlement. Given that estates with duty liabilities are often audited by SARS, our proactive approach and thorough understanding of your tax situation streamline what can otherwise be a daunting process.

Remember, planning is not a one-time event; it’s an ongoing process that needs to be reviewed and adjusted as your life circumstances evolve. We are here to support you at every step, ensuring your financial journey is as smooth and successful as possible.