Ready to retire | Bernadine Kruger | Registered Financial Adviser | Succession Financial Planning | Benoni

Meeting your income needs

Planning your retirement years

Your working days are behind you and your savings must provide an income that not only maintains your lifestyle (considering inflation) but also caters to expenses that may be more common in your retirement years (e.g. medical costs).

How much you draw as an income from your savings is dependent on your financial need.

Retirement checklist

Important questions to consider

Consider if you will require a cash lump sum to settle debt or if can you utilize the full savings fund to purchase an annuity.

You will need to ascertain if your savings plan sufficient to meet your cash and annuity needs.

Determine if you would like to leave a financial legacy to your loved ones is an important consideration when setting up your plan, as well as the impact on your monthly income required from the annuity.

Deciding on your solution

Developing a plan that works for you

The funds in your retirement annuity, preservation fund, pension or provident fund must be transferred into an income-generating solution when you’re ready to start using them to finance your retirement.

Start your Retirement Journey

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