Knowing When to Let Go

Read More

The process of aging is no fun. It is, however, inevitable. As we age, brain processes slow down and it becomes difficult to deal with complex information and change. We all react to this process in different ways. Some people just go with the flow and deal with the effects of aging as they arise. Others dig their toes in, trying to fight off the inevitable. Yet another group plan for what lies ahead and restructure their lives accordingly.

As is often said, we enter this world with nothing and leave with nothing. Whether we like it or not, all we have is left behind. The question is, when do we let go? At the end of life, what we have is a place to live in, some personal possessions and with luck, some investments or money in the bank. The process of letting go relates to all three of these categories.

When it comes to financial affairs, keeping up with paperwork can be a challenge late in life. At some point, family members may be required to step in either to oversee what is happening or to take control through an Enduring Power of Attorney. It is sad to see elderly people with large investment portfolios clinging on tightly to their money. There comes a point where there are simply not enough years of life left to spend the amount of money available. Rather than cling on to the end, is it not better to distribute surplus funds to family or charities sooner? A planned approach to distributing wealth can help avoid family arguments over estates while also providing the satisfaction of seeing funds put to good use by the recipients.

Being prepared can lessen the impact of the effects of aging and make things easier for our families.

Related Articles

Liz Koh

Budget Winners and Losers

The latest Government budget had something for everyone but while most households will be a few dollars a week better off, there are some clear winners and losers. In the winners’ corner are businesses, those on high incomes, and savers. The biggest losers are property investors who have built large portfolios financed partly by tax rebates.

Read More »

Top Up or Miss Out

The end of June is an important date for KiwiSaver members. The financial year for KiwiSaver runs from 1 July 2009 to 30 June 2010 and if you have contributed at least $1,040 to KiwiSaver during that time, you will be eligible for the full amount of Government tax credit to be paid into your KiwiSaver account in July.

Read More »

Responsible Investing

There is a worldwide trend for investors to want to make a positive contribution to the world by investing in companies that are socially and environmentally responsible. If you are passionate about the effects of climate change, the scarcity of food and water, and social or environmental policies in general, then you will no doubt wish to ensure that the companies in which you invest are going about their business in a manner that is consistent with your views.

Read More »

Helping You Live your retirement To the Max

Keep in touch

Fill in your details and we’ll get back to you in no time.