So, you’re not a Rockefeller and don’t have rolling lawns or a family business with a head office looking like a Greek temple?
Ordinary people have something to leave to the next generation, too. So many people want to study further and make something of themselves. Or start their own business. What a great gift it is to give someone like that a head start in life. A retirement annuity (RA) can do just that! Here’s how.
- What do you give a child at their birth?
- How do you spoil a child when they go to school?
- What do you choose for a 21st?
- What is best to give a down-and-out friend?
- How do you show a struggling sibling that you care?
A retirement annuity is a gift that keeps on giving
Even when you stop contributing every month, the money will keep growing.
Example:
Dad Charles contributes R500 a month in a Momentum Investo Retirement Annuity when his daughter Thembi is born:
He invests in the Focus 7 Fund of Funds and the money grows with inflation (6%) every year.
If she takes over when she is 23, her monthly payments will be R1 802 instead of R4 070 to reach the same goal of R55 million at age 65 (for a value of R1 245 00 in today’s terms).
How to grow your money with an Investo RA
Not all of us are American business magnates but that doesn’t mean we cannot pass on what we have in a meaningful way. To find the best Investo solutions for a gift, speak to your financial adviser.
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