Your body might age, but your spirit and finances should keep growing

We’ve all been taught about the benefits of looking after our health. This helps us live longer and experience those amazing feelings of accomplishment when we reach our personal goals. But what happens when we feel our ageing body might betray our retirement dreams, especially if we are adventurous in spirit? 

Our retirement plan should therefore ideally be a balancing act where we invest in the financial lifestyle we want and protect it from any potential risks that may derail it. We need to future-proof our retirement dreams against critical life changes that may occur such as cancer, dread disease and mental illness.

Sheila-Ann Robey, financial adviser at Liberty, says investing holistically in your financial future can help you prepare for life’s hurdles, as it may help you overcome them and figure out a way to live your best life in retirement. 

Insurance is a budget essential

We all have days where the last thing we want to do is hit the gym, but we know why we should be going. Similarly, when we think about adapting our monthly budgets, there is often that same resistance. 

“Often people look at their budgets with the wrong mindset. Budgeting is there to ensure that the money you work so hard for is making your life better. This is true when you budget long term for your retirement,” says Robey. 

A Liberty financial adviser has the experience to help you determine the correct essential cover, within your budget, to help protect your finances, as well as suggest how to grow your money as a retiree. 

Dreaming big doesn’t cost a cent

Many of us are told that fortune favours the bold, but those that fit within this category are considered an exception and not the norm. We live in a time where dreaming big is encouraged ... why? Because it’s free. We all have the freedom to dream. While it may not cost you to dream, it will cost you to make those dreams a reality.

Robey says, “Living your best life during retirement doesn’t just happen on its own. It requires an enormous amount of discipline, hard work and long-term commitment. Part of this involves understanding how much you need to invest and insure now, regardless of your age, so you know what it will take to fulfil your retirement aspirations.”

The Liberty Retirement Range provides you with a guarantee on your retirement income and investment protection. With features such as the Exact Income fund that lets you know exactly how much income you’ll have at retirement, while the High-Water Mark Guarantee protects 80% of your highest quarterly returns.  

So, don’t be afraid to dream big. Having a side-hustle or starting your own business to make this dream happen is possible, and it doesn’t have to be scary, even with the risks of an ailing body over time.

Future risk-proofing your ideal retirement

Any athlete knows that there’s always a chance that you can be totally derailed if you miscalculate a step, a jump or a tackle. When it comes to retirement, life can be unpredictable, meaning your plans can be put on hold — or worse. But recognising these risks can help you future-proof your retirement plan, allowing you to be agile in the face of adversity. 

For any investment, there’s always a chance of market downturns affecting your earnings, or even causing a loss, which is why you should always try to have a flexible, varied investment portfolio. “Life happens, careers change, plans can be upset, but you can always recover, it’s just about knowing and setting realistic investment goals,” says Robey.

When you need advice, bring in a coach

Planning your retirement is a lifelong process, and it’s not always easy to do it alone. Even if it’s just a yearly conversation, your financial adviser can help guide your investments, lower your overall investment risk, and help create tailor-made solutions no matter what your retirement dreams. 

“Even in the worst of times, there are always options that you might not be seeing. It’s important to have regular conversations with your financial adviser that not only look at your investment, but also at the potential risks you face. This will help you to make the right financial decisions, so you can live your best life during retirement,” says Robey. 

For more information on Liberty’s Retirement Range click here >>>

This article does not constitute tax, legal, financial, regulatory, accounting, technical or other advice. The material has been created for information purposes only and does not contain any personal recommendations. While every care has been taken in preparing this material, no member of Liberty gives any representation, warranty, or undertaking and accepts no responsibility or liability as to the accuracy, or completeness, of the information presented. Please consult your financial adviser should you require the advice of a financial nature and/or intermediary services. 

Liberty Group Ltd is a licensed insurer and an authorised financial services provider (no 2409).

This article was paid for by Liberty.