Financial planning advice for South Africans in their mid-30s to 50s is the focus of this edition of Business Day Spotlight.
Host Mudiwa Gavaza is joined by Jodi Suchard, advisory partner at wealth management firm Citadel.
According to Suchard, South Africans in their mid-30s to 50s are navigating some of the most financially demanding years of their lives, caught between raising children, supporting ageing parents and preparing for retirement.
As such, this generation, often referred to as the “sandwich generation”, requires nuanced financial planning and disciplined decision-making.
“By midlife, many individuals have achieved professional success and are earning more than ever before, yet their financial responsibilities often outgrow their salaries,” says Suchard.
“Managing debt, saving for the future, supporting dependants, living well and planning your legacy requires a holistic and well-considered wealth strategy.”
Join the discussion:
Suchard outlines how this group can build a financial plans for multigenerational needs, estate planning essentials and ways to teach financial responsibility to the next generation.
A big part of the discussion is spent highlighting how people can have and encourage better finance related discourse and conversations at the household and family level.
Topics of discussion include financial burdens facing the working population in the main; financial planning tools to maximise earnings in the core working years; estate planning; and encouraging finance discussions in the home.
• Business Day Spotlight is a MultimediaLIVE Production.
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