Financial Wellness Coach

We help you improve your Financial Wellness by:

  • Helping you invest your money wisely
  • Helping you ensure that you have enough money when you retire
  • Helping you convert your assets into a tax-efficient and sustainable income stream when you retire
  • Ensuring that you have a well-planned estate and do not pay any unnecessary fees and taxes
  • Ensuring that you have a robust will in place
  • Protecting your ability to earn an income
  • Protecting you from massive medical costs


1.     Helping you invest your money wisely

Your investments need to be well structured in order to meet your short-, medium- and long-term goals.   We use the following model:

Term

Duration

Investment approach

Max Equity 

Targeted Return

Short

< 2 years

Conservative

20%

Fixed Income index + 1%

Medium

2 to 5 years

Moderate

50%

Inflation + 4%

Long

5 years +

Moderate Aggressive

75%

Inflation + 6%


Factors we look at when constructing your investment portfolio include ensuring that:

  • It can handle challenging times
  • It can take advantage of growth opportunities
  • The costs are kept to a minimum
  • Any taxes paid are kept to a minimum
  • We have the right mix of local and offshore assets.

We make use of financial planning software and one of the packages that we use is asset map.  Here is a video which shows how this can help you better understand your finances. Asset Map video


2.     Helping you ensure that you have enough money when you retire

We will help you plan for your retirement by doing the following:

  • help you calculate how much are you going to need each month when you retire
  • help you calculate how much of this monthly amount your current retirement savings will meet
  • we will then help you put in place a tax efficient investment plan in order to close this gap.

We make use of special financial planning software and will run various scenarios for you to help you understand the impact of:

  • early or late retirement
  • the selling of different assets to meet your retirement needs

All of this to help you find that sweet spot where:

  • your money will last for the rest of your life
  • you pay the least amount of tax
  • any estate duty is minimized

We provide benefit counselling to pension and provident funds, as well as run workshops and webinars on retirement planning.


3.     Helping you convert your assets into a tax-efficient and sustainable income stream when you retire

When you retire, you need to convert your assets into an income stream. The decisions you make here are very important and can have a major impact on your financial wellness in years to come if you do not get the right structures in place.

We will help you make the right ones in terms of:

  • what lump sum to take
  • what type of annuity to take
  • what portfolios you should be investing in in order to get the best returns at the right level of risk
  • how to structure your various investments and drawdowns in order to pay the least amount of income tax
  • how to ensure that you do not run out of money
  • how to use your retirement funds to avoid paying estate duty


4.     Ensuring that you have a well-planned estate and do not pay any unnecessary fees and taxes

When you pass away, your estate will typically pay around R1 million in estate duty for every R5 million in assets that you have.  With a bit of planning, this amount is able to be reduced.

By structuring your assets ahead of time, you can ensure that the tax man receives less and your family receives more.  I am a co-presenter of a course on estate planning at UCT and am familiar with the many opportunities that exist to reduce this tax.

There are three big costs when you pass away:

  • estate duty
  • capital gains tax
  • executor fees

We will analyse your estate as if you had passed away and calculate these various costs. We then run the numbers and create an action plan to be implemented to reduce these amounts. Just a bit of clever planning can make a massive difference to the financial wellness of your loved ones


5.     Ensuring that you have a robust will in place

It is important that you have a solid will in place.  There should be no grey areas which could lead to the wrapping up of your estate taking a long time.  If you have offshore assets that are not in a structure where beneficiaries are attached, then you should have and offshore will. We can be of assistance here and facilitate the drafting of a robust will for you.


6.     Protecting your ability to earn an income

What will happen to you and your family if you are unable to work ever again?  You must ensure that you and your family remain on the same financial trajectory that you are currently on even if you are unable to work. 

We can put solutions in place that will ensure that you continue to receive an income until you reach retirement, should you not be able to work. You can get this even if you have your own company or earn a living through a number of side gigs/odd jobs.


7.     Protecting you from massive medical costs

We are living a lot longer and the chances of getting a serious illness and surviving it are good. The problem here is that it comes at a cost.

Besides the financial impact of not being able to work at full strength while you are sick and recovering, there will also be costs that your medical aid and gap cover do not meet. These costs can be quite large, and I have seen people having to take out additional loans to keep afloat.

There are simple solutions that can easily remove this risk, which we can explore and tailor to your specific scenario.





Each age group has its own unique needs and issues.

For example:
A young person without dependents needs more disability cover rather than life cover. I personally know of two men their 20’s who had car accidents that left them paralyzed. Disability cover is cheap at that age and can literally be a quality-of-life saver.

As one gets older, the need for life cover increases as one typically has dependents and debt.

I have identified five broad life stages:

Millennials (younger than 35)

Happy Families (35 – 45)

Onward and Upwards (45 – 55)

Consolidating (55 – 65)

Retirement (65 and older)

Choose your life stage and see what sort of issues you should be considering.  Then feel free to call me to help you get financially well as these are just pointers and don’t apply to everyone. No two cases are the same, but together we will work through the situation and get you on your way to being financially well.
lifestages image

Financial Planning for ALL Lifestages

Millennials (under 35)
1 min read

Millennials (under 35)

Millennials, also known as Generation Y, are the demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with 1981 to 1996 a widely accepted defining range for the generation

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Happy Families (35 – 45)
1 min read

Happy Families (35 – 45)

You are starting to move up career wise and are starting to get on top of things financially. You will probably have children and need to factor them into your planning

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Onwards and Upwards (45 – 55)
1 min read

Onwards and Upwards (45 – 55)

You are hitting your peak career wise and your earnings are starting to outstrip your expenditure. You are starting to enjoy something you haven’t seen since your early 20s – disposable income.

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Consolidating (55 -65)
1 min read

Consolidating (55 -65)

You are in the last stretch career wise. Your children have left home (and have probably returned). You typically have to pay for tertiary education. The reality of what you are going to live on in retirement is starting to loom large.

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Retirement (65 and older)
1 min read

Retirement (65 and older)

Medical bills are using up an increasing amounts of your pension as medical inflation outstrips your pension increases

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Feel free to enjoy my weekly columns as published in The Daily Maverick

149 - Making the most out of your tax-free investment
1 min read

149 - Making the most out of your tax-free investment

Tax free investments are such a great vehicle for saving money, as its perfect for long-term saving. Many people underestimate the value of such an investment, but there's more than what meets the eye. Let's discuss certain things to take note of and realise just how valuable these investments can be.

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148 - How to pay less tax on your retirement income
1 min read

148 - How to pay less tax on your retirement income

"Nothing is certain but death and taxes", and unfortunately the older you get, the more those two factors can loom heavily over you. However, with some strategic work you can ease the tax burden on your retirement income quite significantly. Let me walk you through some ways to circumvent this issue.

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147 - Ensuring your special needs child is taken care of after you die
1 min read

147 - Ensuring your special needs child is taken care of after you die

We all love our kids, and one of our main goals is to watch them grow up and be successful, even until after we're gone. However, with special needs children, the situation is way more nuanced. Let's take some time and discuss the most efficient ways to ensure the care of your special needs child should you pass away.

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146 - Thinking carefully about retirement products
1 min read

146 - Thinking carefully about retirement products

Ensuring that you have enough money when you retire can be a daunting, and quite challenging process. Let's discuss retirement products, weigh up some pro's and con's, discuss the relevant income streams and how to manage the money, all while helping you set yourself up for a stress-free, prosperous retirement.

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145 - Considering the tax and risk implications of a retirement plan
1 min read

145 - Considering the tax and risk implications of a retirement plan

To retire is easy; having enough money to sustain you post-retirement isn't quite as easy. However, with some clever planning and strategic thinking, you can ease the tax burden and lower your portfolio's overall risk, resulting in more, safer money for your future.

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144 - Being savvy when choosing portfolios can improve your pension
1 min read

144 - Being savvy when choosing portfolios can improve your pension

Something I come across very often is that people more advanced in their years really struggle to keep up with the cost of living in our ever-modernising world. This is often due to the fact that their retirement monies aren't structured in such a way to ensure sustainability. Let's take a look at how some savvy decision making can increase your pension, and with that, your quality of life.

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143 - Getting to grips with life insurance premiums
1 min read

143 - Getting to grips with life insurance premiums

One of the biggest hurdles I see many people face, especially in their later years, is the burden of life insurance premiums, and wanting to scale down on their cover. Many people think that they've figured out a great solution, but in the long run that turns out not to be the case. Let's take some time and discuss how to go about analysing quotes by assessing what you get vs what you need, and understanding premium patterns.

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142 - Planning to ease finances for your loved ones upon your death
1 min read

142 - Planning to ease finances for your loved ones upon your death

As daunting as it can be, something to think about when investing and reviewing current investments is about what would happen when you die. It's intended for the transfer to be as smooth as possible, but the right structures need to be put in place. Let's discuss what measures you can put in place to ensure that your loved ones are taken care of and have one less thing to worry about should you pass away.

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141 - Finding the sweet spot when choosing a medical aid
1 min read

141 - Finding the sweet spot when choosing a medical aid

A question we often ask ourselves is "Do I have enough, or at least the correct, medical cover?" Way too often people overpay for some new and fancy policy, but the difference between what they pay versus what they get out of it is mind-blowing. Let's take some time and discuss the basics of medical aid and how to choose the cover that is best suited for your needs.

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140 - Situs tax: a potential thorn in the side if you're not careful
1 min read

140 - Situs tax: a potential thorn in the side if you're not careful

With many investors now adopting a more optimal approach with their investment strategy by having money offshore, an important thing to take note of is "situs tax". Let's take some time and discuss what it means, what implications it can have, and how it can be worked around with some careful consideration.

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139 - Beware possibility of exhausting the funds from a living annuity
1 min read

139 - Beware possibility of exhausting the funds from a living annuity

When you invest for retirement, the point is, as straightforward as it may sound, to invest for the long haul. However, having too high a drawdown rate could foil those plans and leave you stuck in the mud. Let's discuss how you could circumvent this issue and save your future before it's too late.

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138 - Helping you choose the right annuities to fit your needs
1 min read

138 - Helping you choose the right annuities to fit your needs

The idea of retiring and having all of your affairs in order can be quite daunting, and there's often much anxiety when it comes to decision-making in this regard. However, as the saying goes, there are many ways to skin a cat. Let's discuss some of the options that are available to ensure a prosperous retirement.

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How to deal with retrenchment
2 min read

How to deal with retrenchment

While you are in a fragile emotional state, you will be called upon to make lots of important decisions about unfamiliar financial issues. These decisions will have massive financial implications later in your life.

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Retrenchment – Finance and tax
2 min read

Retrenchment – Finance and tax

If you are retrenched, you are entitled to a severance package. This is typically 1 week’s remuneration for every completed year of service. However, if you take a voluntary retrenchment, this is classed ...

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Retrenchment Videos
1 min read

Retrenchment Videos

Information and Tips when you being retrenched

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Fees

Fees

I am a certified Financial Planner and am an accredited financial adviser with the FSCA.  I am completely independent and am accredited to do business with most companies.  

My compliance and professional indemnity insurances are provided by Succession Financial Planning (FSP number 41158). 

I am also a registered tax practitioner with a registration number of PR1058555. 


Fact finding meeting

I do not charge for the fact-finding meeting where we chat about your needs and explore whether I can add value.


Financial Planning Fees

I am not in favour of high upfront commissions; my approach is to look after your assets over the long term and help you grow your wealth.  

I will review your investments regularly and suggest changes when needed.   For this I charge an annual fee of 0.5%  

If you do not believe that I can add more than 0.5% in value to you each year, then you should not be using me.


My fees for single premium investments are competitively priced and are generally less than what is charged by others in the industry: 

 Industry FeeWhat I charge
Initial investment fee for investments5%1%
Ongoing investment fees for portfolios less than R10m1%0.5%
Ongoing investment fees for portfolios more than R10m1%0.25%
Life Annuities1.5%1.5%

These figures exclude VAT

No fee is directly paid by you, I would receive a fee from the companies whose products I use for your solution.  I receive the same fee from all the companies so there is no incentive for me to use a particular product supplier.

Advice meetings

If you need specific advice on financial matters.  I can offer a service where I charge an hourly rate.

This is ideal if you would like me to look at a particular aspect of your financial planning or get a second opinion. 

These would include: 

  • Evaluating your current financial arrangements to see if there are any inefficiencies
  • Retirement planning
  • Evaluating your offshore holdings
  • Estate planning
  • Getting a second opinion on your financial arrangements with your existing advisor

I charge my time out at R1 500 an hour excluding VAT.    

Typical time taken for larger financial exercises are as follows:    

Second opinion on your finances with report4 to 6 hours
Retirement plan 4 hours
Estate Plan4 hours


Should you decide to use me to implement a solution then this fee would be deducted from any initial fee I receive from a product supplier.

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1 min read
Group and Wellness Day talks

Group and Wellness Day talks

What I charge for presentation to groups

I am an independent financial coach and help people understand the often-bewildering world of finance and retirement.  

I love explaining complicated financial terms in plain and understandable English, with which in turn I aim to empower my clients.  As part of this, I write a weekly financial column for the Daily Maverick 168 on various topics within the field, to educate and inform more people to get ahead of the game.

I offer group presentations, workshops and webinars.  

I can tailor my sessions to meet the specific needs of your group.

Below are some ideas of topics I can talk about.  I am, however, able to talk about most aspects of personal finance so do not be limited by this list.

  • How much should I save for retirement?
  • How to get out of debt
  • How to prepare for retirement

 

Pricing 

My prices are as follows: 

  Standard Pricing  Wholesale pricing for multiple bookings 
 1 hour talk                                                     5,000                                                     4,000
 3 hour workshop                                                  12,000                                                     9,600
 Full day workshop                                                  20,000                                                  16,000


My Credentials 

As aforementioned, I am a Certified Financial Planner and am registered with the FSCA.  I passed the financial mathematics course given by the Institute of Actuaries in London, hold an MBA from the University of Stellenbosch and have a post graduate teaching diploma from UCT. I also once ran the communications division for a large financial services company.

After more than 30 years in the financial services industry, I retired from corporate life last year and have set up a consultancy to help people manage their finances. 
 


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2 min read
Free talks to groups

Free talks to groups

Empowerment for the masses

I set aside roughly 100 hours each year to help people become financially well.


I provide talks to qualifying groups free of charge.  Typical groups would include:

  • School groups
  • Old age homes
  • Church Groups
  • Social groups
  • Book clubs

These talks can be provided in person or via Zoom.


Drop me an email at kenny@financialwellnesscoach.co.za 



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1 min read
  • 17 Stepping Stones Road, Everglen, Cape Town, Western Cape, 7550, South Africa