Single parents should consider the following financial risks.

07/03/2015 07:45

The World Health Organisation revealed the following facts:

 

In 2007 a woman’s  life expectancy  at birth was more than 80 years in 35 countries.

 

This should tell you that after divorce you should review your retirement planning. The likelihood of out living your retirement capital is a reality. Don’t create a financial plan based on marrying again, second marriages have an even higher failure rate, rather plan to retire comfortably that relying on another person.

 

On average women live 6 to 8 years longer than their counter parts globally.

 

The 4 key factors that destroys wealth at retirement especially after divorce is longevity, tax, health care costs and inflation. Make sure that you have saved enough and planned carefully to ensure you have enough retirement capital. People actually live longer due to health care. If you can not afford proper health care your retirement years might be difficult.

 

Breast cancer is the leading cancer killer among women aged 20-59 years.

 

Claims statistic from insurance companies proof that 75% of dread disease claims are cancer related and 70% of these are breast cancer related.

 

Often cardiovascular disease is assumed to be a problem men battle with. This is a leading killer of women.

 

In order to save your life after a heart attack you should either have cash available in the region of R500 000 or a comprehensive medical aid. Medical is very affordable and you should not risk capital to save your life. Make sure you have a severe illness policy in place to cover short falls from such a major life changing event.

 

Contact Christel Du Toit  for a smart financial plan - 082 8527610

Source : Dr. Dominique Scott - Professional Provident Society PPS

 

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