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

What happens when your ageing body betrays your retirement dreams, despite your adventurous spirit?

We've all been taught about the benefits of looking after our health. It helps us to live longer and get more out of life as we work towards accomplishing our personal goals. But what happens when you feel your ageing body might betray your retirement dreams, especially if you are adventurous in spirit?

You never know what life is going to throw at you – and that's why your retirement plan should be a balancing act between investing in the financial lifestyle you want and protecting it from any risks that may derail it. You need to risk-proof your retirement dreams against critical life changes that may occur, such as cancer, dread disease and mental illness.

Investing holistically in your financial future can help you prepare for the hurdles that life throws your way, to overcome them and figure out a way to live your best life in retirement.

Insurance is a budget essential

Everyone has days when the last thing you want to do is hit the gym, even though you know why you should be going. The thought of adapting your monthly budget can be a similar struggle.

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 equally true when you budget long-term for your retirement.

Faced with the restrictions of a budget, many people convince themselves that insurance is an "extra" that they may never need. In reality, being prepared for the unexpected can be priceless, especially as you get older. A Financial Adviser has the experience and foresight to help you determine the essential cover, within your budget, that you need to protect your finances, as well as suggesting avenues through which you can grow your money in retirement.

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 often an exception and not the norm. At a time when dreaming big is encouraged, the reality is that, while it may not cost you to dream, it will probably cost you to make those dreams a reality.

Living your best life during retirement doesn't just happen on its own. It requires an enormous amount of discipline, hard-work and dedication. Part of this involves understanding how much you need to invest and insure now, irrespective of your age, so you know what it will take to fulfil your retirement aspirations.

So, don't be afraid to dream big – just make sure that you plan big too. Having a side-hustle or starting your own business to make this dream happen is possible, and it doesn't have to be scary.

Risk-proofing your retirement

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

For any investment, there is always a chance of market downturns affecting your earnings, or even causing a loss. That's why you should always try to have a flexible, varied investment portfolio in place. Life happens, careers change, plans can be upset – but you can always recover. It's just about knowing how and setting realistic investment goals. There are a lot of investment options out there, and you don't have to do it alone.

When you need advice, bring in a coach!

Planning your retirement is a lifelong process. Even if it's just an annual conversation, your Financial Adviser can help guide your investments, lower your overall investment risk and create tailor-made solutions, no matter what your retirement dreams are.

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 investments, but also at the potential risks you face. This helps you to make the right financial decisions so that you can live your best life during retirement.


This article does not constitute tax, legal, financial, regulatory, accounting, technical or other advice. The material has been created for information purpose 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 advice of a financial nature and/or intermediary services.

Liberty Group Limited is a Licensed Insurer and an Authorised Financial Services Provider (no 2409).



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