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Ready, Set…Plan!

It’s all systems go for 2023 and as we kick off the new year, you may consider starting your financial planning journey as a great way to take control of your finances for the year ahead. If your New Years Resolution is financial discipline, now is the right time to start taking care of your financial future.

Below are some items that should be added to your 2023 Financial Planning blueprint.

The importance of risk cover in personal financial planning is often overlooked due to its perceived complex nature and the monthly financial obligations. However, it is vital that people understand their risks so that they can successfully plan should a life-changing event occur and you are dependent on your risk cover to support a potential financial short-fall, such as hospitalisation, loss of income and disability.

At Morebo, our risk management and long-term insurance plans have been designed to provide you with the best financial solutions should something unexpected happen to you.

Having a valid, executable Will
Having a Will is essential, not only will it indicate the beneficiaries of your estate when you die, it also helps to ensure your last wishes are known and understood. A Will is more than just a signed document, stipulating what is to be done with your assets after your death. Wills and legacies afford such opportunities for fraud, so the legal requirements for the drawing up of a will are very strict. A Will allows you to preserve your wealth for the next generation and ensures that your assets and possessions are divided up amongst your loved ones.

If you need assistance with compiling your Will, our qualified financial advisors will help you draft and store your Will safely and act as executor of your estate.

Retirement planning
It’s never too early to start planning for your retirement. Responsible retirement planning gives you the flexibility to invest small amounts in multiple long-term investment options to build a substantial investment portfolio.

Our financial advisors at Morebo will assist in examining your long-term goals and your current financial situation and provide you with retirement savings recommendations that are in-line with what you can afford to save today, for tomorrow.

Income Protection
Whether you are a full-time worker, a part-time worker, business owner or entrepreneur, income protection is necessary to help people protect their ability to earn an income. What this allows for is money to be paid monthly to sustain yourself financially and to continue your financial plan in the event of an income protection claim. This also creates some financial stability for you and your family, which is essential while you are unable to work or earn an income. You will be paid this benefit until you recover, pass away or until you reach your normal retirement.

There are several options for saving and investing which could be a part of your investment portfolio in the coming year depending on your goals and risk tolerance. It is important to carefully research and compare the different options available to you before making any decision on where to invest your money. Consider your long-term goals and the possible tax implications of different investment options. It may also be helpful to consult a financial advisor to determine the best course of action for your specific investment needs.

Morebo has a proven track record in personalising strategies to see our clients achieving their investment goals, whether that be saving for an overseas trip or investing for retirement, and everything and anything in between.

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Morebo Financial Solutions (Pty) Ltd, an affiliate of Liberty, the Liberty Group Ltd is an authorised Financial Services Provider in terms of the FAIS Act. (No. 2409)
Morebo Wealth (Pty) Ltd, an affiliate of Liberty, the Liberty Group Ltd is an authorised Financial Services Provider in terms of the FAIS Act (no. 2409)
Morebo Brokerage (Pty) Ltd is an Authorised Financial Services Provider in terms of the FAIS Act (no. 48360)

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