3 Must-have Policies to Ensure a Sound Financial Future

28 August 2019

A sound financial future is something sought after by everyone, especially in the current unpredictable economic climate in which we find ourselves. Setting aside funds for retirement, making wise investment choices, making your hard-earned money work for you, and providing enough for your family, are all financial priorities that many focus on.

In this blog post, we take a look at a few investment options available from Momentum, that can help ensure a secure financial future.

1. Namibia Flexible Investment

Available to Namibian residents, individual investors, trusts, companies, close corporations and non-taxable entities, the Namibia Flexible Investment plan allows you to build your wealth and gives you the flexibility to make additional contributions whilst allowing you to access your funds when you need to. This allows you total control over your investment allocation, through a range of local and international unit trusts.

This investment plan is ideally suited for you, if you want the flexibility of choosing when to stop, start or change your investment contributions without any penalties, if you need a flexible investment term, if you want to grow your wealth, or if you want the flexibility to access your funds at any given time.

2. Namibia Retirement Annuity

The Namibia Retirement Annuity is a long-term retirement savings product designed to help you save in a structured and tax-efficient way, giving you the ability to build up your savings during your working years, providing you with an income, for when you retire.

The Namibia Retirement Annuity from Momentum is suited for you if you want to save for your retirement or supplement your existing retirement savings. It is also an ideal plan if you are self-employed, or if your employer does not offer a pension or provident fund. This annuity plan is likewise a well-matched plan for you if you seek flexibility, as it allows you to stop and start contributions without incurring any penalties. If you need a tax-efficient retirement savings investment, or you want the flexibility to choose your underlying investment components then this is also a plan that would work for you.

3. Namibia Retirement Income

As a retired individual, the Namibia Retirement Income is a living annuity designed to help you grow your retirement savings and provide you with a regular income after you retire. This is a flexible post-retirement investment which lets you participate in the market during your retirement, with the added benefit of choosing an income withdrawal that suits you, and also the ability to choose from a wide range of investment components to suit your needs and personal circumstances.

This product is suited for you if you have retired from your employer’s pension or provident fund, retirement annuity or preservation fund, or if you want the flexibility of choosing your investment components. It also works if you want the flexibility to change your income withdrawals yearly, if you want to grow your wealth and if you want to leave the proceeds to your chosen beneficiaries when you die.

With the flexibility to change your investment as your needs change, you can add to your investment, edit beneficiary nominations or switch between various underlying investment components. With the Namibia Retirement Income, you cannot withdraw any funds before retirement. You can only access your investment at retirement or early retirement due to permanent disability, keeping your funds secure, for when you need them the most.

Preparing for your financial future should never be an after-thought. Always make sure you get in touch with a broker or financial advisor that can assist you in finding the perfect fit for your financial needs, taking into account your current financial status.