SUIDEROORD: Guest speaker, Ruth Penman (Risk Manager) from Antler Financial Services, spoke to the Eikenhof Women’s Institute members about how to look after their financial assets and how important it is to make a will.
“Life is never straight forward and every person/ business has different priorities and different expectations,” said Ruth. She advised members to always have a will and to keep it updated.
“Many people draw up a will and life happens, changing your will’s relevance. Make sure you check it annually and update it where necessary. This is very important.”
With investments she advised members to never draw more than their growth from their investments. “If you draw five per cent of your investment your money should outlive you, eight per cent and you should just about make it, anymore and you’ll run out of money!”
She went on to say, “Advise your children or grandchildren that from their very first pay cheque they must put 15 per cent away, every month. Not always easy but very advisable.” Members enjoyed the meeting and definitely came away knowing more than they knew when they arrived.
