Providing solutions for every stage of a professional’s working life

While busy professionals are focused on their careers, they also need to grow their wealth and protect their incomes. At Liberty we know they work hard for every cent they earn, and we believe their efforts should be protected. We want to make their hard work count.

Liberty has solutions that meet the needs of all professionals: from those still establishing their careers, to others who have achieved high levels of expertise and excellence in their careers, and those who have accomplished most of their professional goals and are considering their financial independence in retirement.

Young professionals aged 25 to 35 have attained their education, and have started out in their new careers. They are focussing on growing their money, improving their lifestyle and ultimately achieving wealth and financial independence. They have independent living arrangements, while their student loan debts are in the process of being repaid. While these young professionals are different to their parents’ generation, they understand the link between sound financial advice and their financial wellbeing, and they have started asking questions like:

• What do I do if a serious illness or accident takes away my ability to do my job?

• How would my family cope if I was no longer around or able to support them?

• What happens if I get retrenched, and can no longer afford my bond repayments?

Fortunately, Liberty is here to partner with you, an accredited financial adviser, to provide sound financial advice to young professionals. This advice, along with our risk solutions such as income protection, life insurance, disability cover and critical illness cover, enable these young professionals to protect themselves against the negative impacts of any traumatic life event.

This group will also shift their focus away from their immediate needs to investing in their futures, considering their dreams and their financial goals. But as their plans evolve, they still want easy access to their funds, such as when the funding needed for side hustles and projects that generate additional income becomes a reality.

The needs of professionals change as they approach the 35 to 45 years age group, as they’ve now become experts in their profession. Most hit the peak of their careers and are approaching the height of their earning capacity. As some of them become parents and breadwinners, they’re thinking of the needs of their family. Ensuring their children’s education happens in the way they envisioned, no matter what, becomes a priority. That’s where a combination of Liberty’s EduCator risk benefit and Education Builder investment fits into their financial planning to help them secure their children’s education in the long term.

The need for drawing up a valid will that accurately reflects their wishes is also of utmost importance. The financial impact of winding up an estate on the death of a breadwinner means these professionals should also be looking at ways to ease their tax burdens, ensure they have sufficient liquidity for estate-related costs, and settle any debts due on their death, as far as possible. The coronavirus pandemic has also emphasised the importance of having an emergency fund to provide for unexpected circumstances.

This age group is aware that they have around two decades and a limited number of pay cheques until their retirement at age 65. For them, knowing exactly how much they’ll need to retire comfortably is important. Liberty’s Exact Income Fund and High-Water Mark Guarantee features, in our retirement solutions, will allow them to live with confidence, knowing today how much retirement income they will have. These features also provide the reassurance that their investments are protected against market volatility – something that has become far more prevalent in markets in recent years.

Those who fall into the 45 to 65 age group have accomplished their career goals, even though they still have the responsibility of looking after children who might be studying at university. This group’s financial planning remains critically important as this is the time for them to take a thorough look at their future, and make some critical decisions. If their retirement savings plans are on track, this will provide peace of mind; however, it is important for them to continue growing their investments where they can, for example by diversifying their wealth with Liberty’s offshore investment solutions. As they edge closer to retirement age, they’ll be keen to accelerate their retirement savings to secure a comfortable retirement, through Liberty’s Life and Living Annuity solutions. And once they reach the precipice of starting their retirement, our unique Life Annuity with Capital Protection product gives the comfort of a guaranteed income, combined with the certainty of leaving their dependants with an inheritance.

Whether professionals are in their 20s or 50s, financial planning around wealth generation and ensuring financial security for themselves and their loved ones is critical. Recognising the effort and considerable commitment that professionals make in doing the work they do, Liberty continues to partner with them on every step of their journey, providing solutions and suitable pricing for individuals at every stage of their careers.

As a financial adviser, you can reach out to us at Liberty for product solutions that are suitably tailored and priced for your clients.

The information contained in this article does not constitute advice by Liberty. Any legal, technical, or product information contained in this document is subject to change from time to time. This document is a summary of the features of certain Liberty products as at the time of publication. If there are any discrepancies between this document and the contractual terms and conditions the latter will prevail. Any recommendations made by a financial adviser or broker must take into consideration their clients’ specific needs and unique circumstances. Liberty Group Ltd is a Licensed Insurer and an Authorised Financial Services Provider (no. 2409). Terms and Conditions apply. For more details about benefits, definitions, guarantees, fees, tax, limitations, charges, premiums/contributions or other conditions and associated risks, please refer to the technical specifications of the relevant product(s).