Wealth Strategies

Some a basic financial planning advice:

- Draft your Will
- Start saving & investing as soon as possible
- Get your life, disability & health insurance in place
- Make sure your policy beneficiaries are valid & updated

As a professional adviser, I'm amazed at how many people neglect these financial planning basics.

For a number of reasons, you may need to include a Trust provision in your Will.

Because there are ongoing legislative changes regarding Trusts, it is crucial that you choose skilled trustees with fiduciary expertise for your planning.

There are different types of Trusts and you need to ensure that your Trust structure suits your particular needs.

Creating a Trust to look after the interests of your minor children could be as easy as drafting your Will and including a provision for a testamentary Trust.

I struggle to understand why some people don’t take the time to have their will drafted.

It’s a personal responsibility and a gift to your family and beneficiaries.

Free Guide to FAQ's for Wills - https://5-rod.systeme.io/wills
Request Your Free Will - https://5-rod.systeme.io/mywill

Free Guide to FAQ's for Wills - https://5-rod.systeme.io/wills
Request Your Free Will - https://5-rod.systeme.io/mywill

Free Guide to FAQ's for Wills - https://5-rod.systeme.io/wills
Request Your Free Will - https://5-rod.systeme.io/mywill

A simple but effective way to earn an online income would be to create a course or video, on a topic which you are knowledgeable ( you don’t have to be an expert ).

By posting regularly on this topic with valuable content, you will attract interested people and build relationships with them as they engage with you, and in the process, you will gain their trust.

You will also uncover some of the challenges and problems they are facing, which gives you an opportunity to come up with solutions for them.

You could then package these solutions in a course or video and sell it online. Another option would be to create a subscription based online community, such as a Facebook Group.

The Cash Flow Quadrant ( by Robert Kiyosaki, author of ‘Rich Dad, Poor Dad’ ):

- Quadrant 1: E ( Employee ) – You have a job
- Quadrant 2: S ( Small Business ) – You own a job
- Quadrant 3: I ( Investor ) – You own investments
- Quadrant 4: B ( Business Owner ) – You own a system

Quadrants 3 and 4 provide asset-based income which is better than 1 and 2, where you trade your time for money.

The sweet spot is quadrant 4; especially if you can get there without financial outlay and with very low to zero overheads.

I’ve researched a few online business opportunities which can provide this result and which I’m happy to share.

DM me if you are interested in learning more.

There are three benefits to earning a passive or asset-based income.

You can do it for the:

- Money
- Time
- Both ( lifestyle )

✌🏻

‘Doing what you like is freedom. Liking what you do is happiness’

If setting aside 30 to 60 minutes a day ( TV time ) to follow a process of building an extra income, could provide you with more personal time and a comfortable retirement; would it be worth it?

Small, daily commitments can create significant returns.

It’s not too late and never too early to start!

✌🏻

It's never been easier to create an online income to supplement or replace your salary. While employed, you can explore the following opportunities:

- Affiliate marketing
- Network Marketing / MLM
- Consulting
- Writing a paid newsletter
- Free lance work
- Create video courses
- Write ebooks
- Online group coaching

It's never been easier to diversify or increase your income!

Freedom is a big part of being content in life.

So, what does ‘freedom’ mean?

Is it being able to have choice in what you do and when you do it?

But you also need to earn a living.

So how do you find a compromise between having time freedom and your financial needs covered?

You either have a job that allows for the flexibility you require, or you build sufficient wealth so that you no longer need to work – this takes a long time and is otherwise known as ‘retirement’.

But remote work or flexi - time employment can still have strings attached and your income dries up when you stop working.

There is another way which allows for flexible and remote work, while being totally independent and growing your residual or passive income; so that in time, your active work becomes less critical.

Nowadays, it has become a lot more accepted to have a ‘side hustle’, especially with the opportunities available through online businesses, and It makes sense financially, to increase and diversify your income where possible.

An asset-based income has the potential to provide time freedom and financial independence.

You're welcome to send me a DM if you'd like to learn more.

For most people, getting your Will drafted is something for another day. The sad thing is that day may never arrive. Also, most of us don’t understand the problems that can be created for our families and dependents, when we don’t have a valid Will drafted; such as the inheritance of a minor child being placed in the Guardian Fund or assets being inherited not as intended. There are also easy ways to save on certain deceased estate costs and to ensure that there is sufficient money immediately available to the dependents on the death of a breadwinner. Feel free to contact me if you need assistance in getting your Will drafted.

The concept of a passive or residual income is catching on, especially for those looking for time freedom or a second income. It's also a great option for professionals and business owners wanting to create more personal time, employees looking for change or more flexible hours and students needing to earn an income while studying. As a financial planner, I often see the need for additional income, especially when it comes to savings and retirement planning and I offer advice and guidance on how to find remote online work and income opportunities.
income opportunities.

What a great concept!

Excited to see that this is possible.

Wealth Strategies updated their address.

It is very important that your beneficiary appointments are up to date on your life insurance and endowment policies, as well as your retirement annuities. So often, they are not updated after a divorce, death or birth; which can have unintended consequences Although with retirement annuities, your beneficiary appointments serve as a guide to the fund trustees, who will search for financial dependents of the deceased before awarding the benefit, it does serve a valuable purpose in the absence of other financial dependents. But life insurance and endowment beneficiaries will receive the benefit without contestation. There is also a savings of executor’s fees ( currently 4% including Vat ) on the benefit value when appointing a beneficiary to a life insurance policy or endowment, which would otherwise fall into the deceased estate and attract executor’s fees.

Many people think that a Will is only important for the wealthy. This is completely not true, as even an average family will have assets and property which will need some inheritance planning. An average size estate would also incur costs, such as executor's fees ( currently 4% incl VAT ), conveyancing costs and other legal and admin fees. With some basic financial planning, these fees and costs can be reduced, thereby increasing the inheritance value of the estate.