Your financial inspiration... is it in hiding?. YOUR FINANCIAL INSPIRATION The road of life.
Transcript of Your financial inspiration... is it in hiding?. YOUR FINANCIAL INSPIRATION The road of life.
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Your financial inspiration ... is it in hiding?
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YOUR FINANCIAL INSPIRATION
The road of life
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YOUR FINANCIAL INSPIRATION
Did you know…
Life expectancy in 1900 was 42 years
Today…?
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YOUR FINANCIAL INSPIRATION
Lifestyle related diseases
One in 4 women in SA will have heart disease before the age of 60
Women develop heart disease later than men
One heart attack every 8 minutes in SA
One in seven women worldwide will get breast cancer
Asian, White and Coloured women four times more at risk than Black women
Source: SA Heart Foundation
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YOUR FINANCIAL INSPIRATION
The threat of old age….
Probability of a pensioner aged 60 surviving to different ages (Based on life expectancy in 2006)
0%10%20%30%40%50%60%70%80%
80 85 90
Male
Female
40%+ of women aged 60 will make it to 90
20%+ of men aged 60 will make it to 90
People don’t realise this because they hear about HIV etc
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YOUR FINANCIAL INSPIRATION
Why is retirement such a problem…?
Ignorance
False sense of security
Someone else is taking care of it
Waking up too late
No money for retirement planning
Approximately 94% of South Africans retire with NOT ENOUGH
MONEY – there is clearly a problem!
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YOUR FINANCIAL INSPIRATION
Do you control your money, or does your money control you…???
A simple question
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YOUR FINANCIAL INSPIRATION
Take control of your money!
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YOUR FINANCIAL INSPIRATION
STEP 1:
Face your realities
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YOUR FINANCIAL INSPIRATION
STEP 2:
Stop waiting for Prince Charming
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YOUR FINANCIAL INSPIRATION
STEP 3:
Plug the holes
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YOUR FINANCIAL INSPIRATION
STEP 4:
Tackle your debt
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YOUR FINANCIAL INSPIRATION
STEP 5:
Seek professional advice and draw up a financial plan
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YOUR FINANCIAL INSPIRATION
Your financial plan should include…
A valid Will
Medical cover
Emergency fund
Protecting your income (death, disability, dread disease, business assurance)
Saving and investing
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YOUR FINANCIAL INSPIRATION
7
Change is not the result of
spontaneous combustion –
you must set yourself on
fire!