Make your assets effectively work for you, by consistently continuing to generate an income in excess of your expenses, said NDB Wealth’s Financial Advisor Christina Wesley.
Today, many who can see retirement fast approaching do not have a proper plan so they can meet it with adequate peace of mind, she said.
NDB Wealth provides a number of simple, introductory plans that help you easily take on the responsibility of building wealth.
Plans such as ‘Retirement Savings’ and ‘Retirement Income’, offered by NDB Wealth, can provide avenues to improve your long term financial independence. NDB Wealth allows you to maximise your savings and income beyond the limitations of traditional banking, by initiating clients into high performance instruments such as money market funds.
“Regular, yet manageable, amounts of savings deployed in a ‘smart’ way can help build significant quantity of wealth in the future. But you need to start planning and saving for your retirement today itself,” Wesley said.
“The Financial Advisors at NDB Wealth are trained to listen to your worries and come up with plans that will take care of your specific concerns. Being smart about your money from the start can also mean being able to retire early, if you want,” she said. She also advises to consult an investment adviser and/or tax consultant before making any investment decision.
According to Wesley, nine out of 10 people are worried about how long their savings will last after they retire, with a further eight, out of 10, concerned that they will never accrue enough to fully give up work once they reach retirement age.
She said that there are two important elements to secure financial independence: increasing your assets, and reducing your expenses.
While a simple lifestyle will help you manage your expenses, accumulating assets requires knowledge and foresight. Accounting for complexities such as taxes, pensions, etc. make the whole process even more complicated, needing expert advice to navigate the numerous potential pitfalls of any decision you make.