Pioneering new paths to a successful and fulfilling retirement

Navigating the ever-evolving landscape of financial security and retirement can be overwhelming, especially when one considers that financial planning is only one piece of the retirement planning puzzle.

Retirement reinvented incorporates a sense of longevity, health and wellness, lifelong learning, social connections and purposeful engagement in activities that bring joy and meaning. This includes holistic retirement planning, which requires understanding the various facets contributing to a fulfilling and sustainable post-career life.

A packed line-up awaited guests at the recent PPS Retirement Summit held at the Marriott in Melrose Arch in November. 

Keynote speakers included investment and personal finance specialists, a futures strategist and a psychologist, and award-winning financial journalist Fifi Peters facilitated the proceedings.

The summit showcased how to pioneer new paths and possibilities when it comes to reinventing retirement. 

Ayanda Seboni, head of PPS Mutuality, welcomed delegates and outlined the importance of the summit, held in association with Business Day and Financial Mail and now in its third year.

Seboni said that, along with the intermediaries and advisers in attendance, PPS’s priority is taking care of the financial resilience of graduate professionals, who are a vital engine of the economy. 

Information is power, said Seboni, and the goal of the summit was for attendants to put what they learnt into action.

Given the rising cost of living and the poor savings culture in SA, retirement cannot be implemented at a crisis stage but is something that needs to be considered and actioned as early as possible in one’s career.

Planning for the retirement you deserve

Portfolio manager at PPS Investments, Luigi Marinus, was the first keynote speaker on the day and addressed the issue of how to prepare for the retirement you deserve.

While client behaviour may favour cash investment given its lower volatility, a more balanced portfolio that incorporates higher-risk investments may mean higher returns.

Though there is no way of knowing when those higher returns will happen, you need to plan for what the most likely outcome will be.

Marinus reiterated the importance of partnering with the team of specialists at PPS who can work with you on your retirement portfolio to strike the right balance, manage the potential downsides and make the necessary recommendations for your individual circumstances, based on your specific needs and risk tolerance.

Retirement honeymoon 

Founding editor of Personal Finance and author of the Ultimate Guide to Retirement Bruce Cameron spoke about the various facets of retirement and provided useful tips, whether you are actively seeking a change in your retirement, or wanting to settle into a comfortable new normal.

While the initial stages of retirement are often described as the retirement honeymoon, most of retirement can be a honeymoon if the planning and saving is done properly and informed financial decisions are made and adhered to during retirement. 

He added that besides the financial side of things, staying medically fit is vital to enjoying and making the most of your retirement, and can also go a long way in saving on medical costs.

Always consider your partner, said Cameron, and be cautious when using your retirement savings to open a business. Depending on your skill set, consider doing locums or consulting, but don't risk your retirement capital.

The emotional peaks and troughs

After an interactive panel discussion where a variety of experts outlined the types of challenges clients face as they approach and enter retirement, clinical psychologist Dr Colinde Linda shared more about the transition from busy working days to a seemingly idle life which, for many, can be overwhelming.

Once the initial excitement of retirement begins to fade, feelings of loneliness, anxiety or even depression can follow.

Linda shared various tools and techniques to mentally prepare for retirement, and how to best work through these challenges to help you navigate the emotional peaks and troughs of retirement.

Pioneering new paths and possibilities

Joining from Texas in the US, leading futures strategist and author John Sanei delved into the seismic shifts reshaping the future.

He provided insights and tools to rethink and reimagine retirement for success, the need to make decisions with a calm heart, and how to deal with uncertainty and excitement with more ease.

He spoke about the technological advancements, geopolitical and economic cycles, and how these dynamic changes affect emotions and behaviour.

Using play, meditation, trauma, healing and getting our emotional states to a space that enables us to become naturally hopeful, naturally courageous and naturally adaptable is vital in a world that is constantly changing.

To conclude the day’s proceedings, Seboni reiterated PPS’s unique brand promise and defining factor — mutuality — where graduate professionals work together to protect every member’s financial future. 

Each year, when PPS declares their profits or losses, all operating profit that PPS makes after expenses and funds retained as per regulatory requirements, is redistributed to members into their notional PPS Profit-Share Account, irrespective of claims they may submit.

The ethos of mutuality is at the heart of and fundamental to the success of PPS, the only mutual financial services company in SA.

With financial stability, renewed purpose and optimism for the future, these professionals can focus on initiatives and priorities that are important to them now and into their retirement.

Discover more about the 2023 PPS Retirement Summit here.

About PPS

The Professional Provident Society is the largest SA company of its kind that provides financial services exclusively for graduate professionals.

PPS operates under the ethos of mutuality, which means it exists solely for the benefit of its members.

PPS membership provides access to a comprehensive suite of financial and healthcare solutions that are specifically tailored to meet the needs of graduate professionals including life insurance, short-term insurance, health professions indemnity, specialist support services, financial advisory, wealth advisory, investments and administers the Profmed Medical Scheme.

Members with qualifying products from PPS Insurance, PPS Investments, PPS Short-Term Insurance and Profmed share in the profits and losses of PPS Insurance annually through PPS’s unique Profit-Share Account.

After PPS has honoured all valid claims and covered the expenses of doing business, and set up reserves for future possible claims, PPS distributes what is left to members with qualifying products, together with investment growth, either as claims or as allocations to their Profit-Share Accounts.

So, the greater their contributions in these products, the greater their part of the annual Profit-Share.

Visit PPS for more information. 

^{PPS is a licensed insurer conducting life insurance business, a licensed controlling company and an authorised FSP.}

This article was sponsored by PPS.