Welcome to the latest edition of The Wealth Perspective

In this edition of The Wealth Perspective, Chief Investment Officer Adriaan Pask looks at what building generational wealth really requires – and it goes beyond rands and cents. Head of Sales, Nirdev Desai, highlights the value of advice and the importance of having an executable financial plan that takes your life circumstances into account. Our Head of Securities, Wendy Myers, unpacks the opportunities in the stockbroking landscape, and Jan van der Merwe, Head of Actuarial and Product, provides a summary of the endowment product and its benefits. Legal Specialist, Madelein Steenkamp, outlines the differences between estate planning and legacy planning. Finally, Head of Technical Support, Mariska Comins, interrogates what it means to retire comfortably and how to turn that into a lasting culture.

Welcome to the latest edition of The Wealth Perspective

The month of September offers us an opportunity to reflect on our past and celebrate our diverse cultures and heritage. And when we think of heritage, often the theme of legacy follows. If you have ever thought about what you would like to leave behind for future generations, you have considered the concept of generational wealth. Creating wealth for you, your children, your grandchildren, their grandchildren and future generations is a worthy goal, and an achievable one.

For generations to come

The idea of wealth is one that has many dimensions. It is often defined as a measure of the value of all the assets of worth owned by a person, community, company, or country. However, wealth is also a means to an end. Wealth is what allows us to have financial independence and freedom. It enables us to fuel our dreams and empower our loved ones. Being able to generate wealth that can be sustained for multiple generations is an ambition that many of us have. Whether you are the first generation to accumulate wealth or are looking to preserve what has been left to you, having a well-thought-out strategy will be key to meeting your objectives.

Creating a healthy generational cycle

Many of us don’t want our children to have to work quite as hard as we did to get by. However, we must be careful, as there are many ways we can influence our children’s lives financially, beyond the simple concept of an inheritance. This is the financial wisdom we pass on to our families. Both Adriaan and Nirdev highlight the importance of fostering a healthy relationship with money within your family. Financial habits and attitudes are usually formed early on in our lives, as we observe (either consciously or unconsciously) how our families manage money. Teaching your children how to manage money and how to invest early will help set them – and possibly future generations – up for life.

Plan to succeed

Having a legacy is not just about when you are gone. You should be actively building your legacy every day. However, it is also important to plan for when you are no longer here. Your will is probably the most important document you need to consider when it comes to securing your family’s financial future. Having a legal and up to date will means your assets will be distributed according to the vision you worked so hard to realise for them. It is therefore important to speak to a financial adviser about this and your holistic financial plan.

Read all the Wealth Perspective articles here

A Word from our CIO - Adriaan Pask

Industry Views - Nirdev Desai

Investing and trading - Wendy Myers

Estate Matters - Madelein Steenkamp 

Quarterly Insight - Jan van der Merwe

Employee Benefits Insight - Mariska Comins

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