VM ELEVATE BE YOUR OWN HERO! MAKE YOUR GOALS HAPPEN WITH FINANCIAL PLANNING
Take Charge of Your Finances and Prepare for the Life You Want! - Page 2
Feel Like a Champion When You Invest Early - Page 4
Become Your Own Financial Hero by Enrolling with Pension Prime ARS Today! - Page 5
Transform Your Everyday.
OCTOBER 2023
OCTOBER 2022
FINANCIALLY WISE
Take Charge of Your Finances and Prepare for the Life You Want!
M
oney is a powerful tool that can be used to achieve your goals and live the life you want. However, if you don't take charge of your finances, they can easily take charge of you. This can lead to stress, worry, and even debt. The good news is that it's never too late to take back control. Here are a few ways to get started:
ALIGN YOUR BUDGET WITH YOUR GOALS The first step to taking charge of your finances is to create a budget. When creating a budget, it's important to align your spending with your goals. For example, if your goal is to save for a downpayment on a house, you may want to cut back on entertainment spending or dining out. Here are some tips for creating a budget: • Set financial goals. Do you want to save for a dream vacation? Retire early? Pay off debt? Once you know what your goals are, you can create a budget that will help you achieve them. • List all of your income and expenses. This will give you a good understanding of how much money you have coming in and going out each month. • Review your budget regularly. Your financial situation can change over time, so it's important to review your budget at least monthly, so you can make adjustments as needed.
PUT YOUR MONEY TO WORK Once you have a budget in place, you can start to put your money to work. This means investing your money so that it can grow over time. There are many investment options available , so it's important to do your research, talk with your Advisor and choose investments that suit your needs and goals.
Taking charge of your finances is one of the most important things you can do to achieve your financial goals and live the life you want. PREPARE FOR EMERGENCIES Even with the best planning, unexpected expenses can arise. This is why it's important to have an emergency fund. This is a savings account you can use to cover unexpected expenses, like a job loss, medical emergencies, or home repair due to natural disasters. A good rule of thumb is to save at least three to six months of living expenses in your emergency fund. Once you have reached that goal, replenish it as needed. Here are some tips for building an emergency fund:
Here are some tips for investing:
• Set a goal. How much money do you want to save in your emergency fund? Once you have a goal, break it down into smaller, more manageable steps.
• Start small. You don't need a lot of money to start investing. Even if you can only invest a small amount each month, it will add up over time.
• Automate your savings. Set up a standing order to your emergency fund savings account each month. This will help you save money without having to think about it.
• Invest regularly. One of the most effective ways to grow your money over time is to invest regularly. • Diversify your portfolio. Don't put all of your eggs in one basket. Spreading your money across different types of investments helps to increase gains and balance risks. • Rebalance regularly. The makeup of your investment portfolio should be aligned with your risk tolerance as well as financial goals. As your situation changes, you may need to rebalance your portfolio to ensure that it is still aligned with your goals.
• Cut back on unnecessary expenses. Take a close look at your spending to see where you can cut back. This might mean eating out less, cancelling unused subscriptions, or finding cheaper alternatives to products and services you use. Taking charge of your finances is one of the most important things you can do to achieve your financial goals and live the life you want. The important foundational steps are creating a budget, investing your money, and preparing for emergencies. Remember, it's never too late to start. And the sooner you take charge of your finances, the happier your future self will be.
PRODUCTS AND SOLUTIONS
Feel Like a Champion When You Invest Early You can become the champion of your life when you give yourself a head start at financial empowerment, by investing in a suite of unit trust products from VM Wealth Management. A Unit Trust is a type of collective investment scheme that pools money from many investors to invest in a diversified portfolio of securities or assets. These assets can include bonds, stocks, real estate or any other financial instruments. Unit trusts allow you to regularly invest a fixed amount of money and these consistent contributions can help to grow wealth over time.
portfolio without the need for significant capital or expertise. Uniquely designed unit trust products to help you achieve long-term goals and increase wealth significantly over time. Investors have the option to choose a fund that best aligns with their risk tolerance and financial goals. A great way to achieve specific financial goals such as saving for retirement, buying a home, funding your children’s education, etc.
With a minimum of J$10,000 or US$500 you can start your unit trust account and build wealth for your personal goals or generational income. Here are some benefits you can expect when you start investing in a Unit Trust:
Expert advice from professional fund managers who use their expertise to make decisions on behalf of the investor to maximize returns and manage risks.
Convenient way to invest in a diversified
VM Wealth Management
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Become Your Own Financial Hero by Enrolling with Pension Prime ARS Today! The financial landscape is constantly evolving which means that you have to find ways to stay ahead of the curve to secure your financial future, and this may look like becoming your own financial hero. The good news is that there are multiple ways that you can achieve this, such as putting in place a proper pension plan. Let’s flesh that out and see what proper retirement planning looks like, and how enrolling into the Prime ARS will take you to the meeting point of possibilities when it comes to what your pension can do for you. A pension plan is a way to put money aside that will function as a consistent source of income later in life when you’re no longer working, so put simply, your retirement plan. Your pension can take different shapes, such as a government managed programme, a privately managed pension plan, or voluntary retirement savings.
Let’s dissect one of these and illustrate how you can access some real and tangible benefits by enrolling with the VM Pensions Management Team.
THE PRIME ARS FROM VM PENSIONS MANAGEMENT One way that you can take proactive measures to ensure financial stability in the future is with the Prime ARS. This is a pension scheme that allows individuals who are not enrolled in a companysponsored plan to contribute to a retirement savings solution during their working years. By contributing to this pension scheme, persons, such as contract and self-employed workers, are empowered to secure their financial wellbeing and enjoy retirement in comfort. CONTINUES ON NEXT PAGE
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THE BENEFICIAL ARRANGEMENT We get it, modernisation is offering a lot of ways to save and invest your money for the future, but we can’t deny the fact that a pension provides great benefits when it comes to setting your money aside for your retirement years, and our Prime ARS provides even bigger benefits. It’s Tax-Free Savings with Likely Returns: A big advantage of enrolling with our Pension Prime ARS is the option of setting aside tax-free savings, which is a tremendous benefit when compared to other regular savings accounts. By taking advantage of this provision, you can maximize your savings potential and enjoy greater returns in the long run. It’s also a good way to achieve your financial goals and become your own hero while minimizing those tax burdens. The Scheme Plans for the Bad Days: We recognise that uncertainties are a part of life, and through the Prime ARS, you can protect yourself and those you love in unfortunate circumstances. So, there are special provisions for death or illhealth, which means that this pension scheme provides a proper safety net. These provisions ensure that even in difficult times, you and your families are supported financially. Access Financial Education: At VM, we’re very big on giving our members and clients access to proper financial education. Your Prime ARS membership will give you guaranteed access
A big advantage of enrolling with our Pension Prime ARS is the option of setting aside tax-free savings, which is a tremendous benefit when compared to other regular savings accounts.
to educational resources on a wide range of solutions from across the Group, and up-to-date financial topics to empower you to make wise and informed financial choices. Here’s to becoming your own financial hero and setting the stage for a secure and comfortable retirement. VM Pensions Management