There are no hard and fast rules when it comes to how often you should meet with your financial adviser. If you trust they are making your money work for you, once a year is probably enough. If seeing them makes you feel more confident and less anxious, every three to six months is worth considering. One thing is certain: like life, our financial situation can change quickly. However, there are certain times, over and above a financial emergency, when it's good to check in with your financial adviser.
Your first job
It's never too early to start saving for your retirement, or planning your short-term and long-term life goals (for example, regular overseas travel, buying a house, taking time off work to raise your children). A financial adviser will help you to make your dreams a reality.
Making a career change
Whether you plan on starting your own business or taking some time off, your financial adviser can help. Include your financial adviser in the planning stages to ensure that any major changes today won't have a financial impact on your future.
Your financial adviser can make it easier to merge your assets and income, and to plan your future financial security as a couple.
Your financial adviser can act as an unbiased third party to help you minimise financial losses, and make the best long-term financial decisions.
A new child
(... or grandchild). Your financial adviser will help you to provide for school fees, tertiary education and any other associated medium- to long-terms expenses.
Receiving a large sum of cash
From a raise to a bonus, a buyout or an inheritance, your financial adviser can help to ensure that the extra money adds to your financial security.
Providing extra care to loved ones
Taking care of loved ones can be very expensive. It's not always possible to prepare for this kind of situation, but if you think you'll be required to take care of someone in the future, it's a good idea to start saving as early as possible.
Redefining your retirement
The earlier you start saving for your retirement, the better. It's also particularly important to regularly check in with your financial adviser, so they can make adjustments where needed and recommend when you need to save more for a worry-free retirement.
Planning your will
When you start to think about assigning your estate, a financial adviser can help you minimise your estate taxes and plan for final expenses.
Enhancing your portfolio
It's your financial adviser's priority to make sure that your investment portfolio is well structured and remains aligned with your financial objectives and risk tolerance. This includes alerting you to new products or special offers, like the R10.90/$1 Dollar Life Plan limited offer from Discovery Life.
The Dollar Life Plan offers life cover for you and your family in US dollars - the most widely used global currency. And now, for a limited time only, new policies submitted by 31 August 2017 will benefit from a preferential exchange rate of R10.90/$1 for a period of three years, subject to the terms and conditions of the special offer.
Speak to your financial adviser about how Discovery Life's Dollar Life Plan can strengthen your financial security.
The Dollar Life Plan and Dollar Discovery Retirement Optimiser are issued by Discovery Life International, the Guernsey branch of Discovery Life Limited (South Africa), licensed by the Guernsey Financial Services Commission, under the Insurance Business (Bailiwick of Guernsey) Law 2002 to carry on long-term insurance business. The Dollar Life Plan and the Dollar Discovery Retirement Optimiser are also subject to the South African Long-term Insurance Act of 1998. Discovery Life is an authorised financial services provider. Registration number 1966/003901/06. The Dollar Discovery Retirement Optimiser is administered by Discovery Life Investment Services (Pty) Limited trading as Discovery Invest, a subsidiary of Discovery Limited. The trustee appointed by the Branch must hold the licensed insurer’s assets representing at least 90% of policyholder liabilities in trust as imposed by a standard condition on the licence of the Insurer under section 12 of the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). The information given in this document is based on Discovery’s understanding of current law and practice in South Africa and Guernsey. No liability will be accepted for the effect of any future legislative or regulatory changes.