Once you’ve retired from the working world and are no longer earning an income, how will you stay financially stable? Retirement planning is an important way of ensuring your finances are secure as you get older, so you can enjoy your life and maintain your standard of living without undue financial stress.
With Cornerstone Financial Planning Services, we can help you in two main ways to ensure you maintain your financial security in your retirement years:
Retirement savings:
The main aim with retirement savings products is to help you accumulate wealth before retirement, and the younger you can start saving for retirement, the better off you’ll be when the time comes to stop working. Whether it’s in the form of a retirement annuity (RA), pension fund, provident fund or unit trusts, these products focus on capital growth and come with tax advantages too in order to encourage saving for retirement.
Retirement income:
Rather than simply living off a lump sum of funds, retirement income products provide you with a steady income stream during retirement. Retirement income products include living annuities that provide flexible income withdrawals or guaranteed annuities that provide a fixed income for life or a specified period. Overall, they focus on helping manage your financial stability in the long term by ensuring you have a predictable and reliable income.
Give yourself peace of mind when you retire by knowing you’re financially secure – even in the face of inflation or other unexpected costs you may face.
