Transcript FINANCIAL PLANNING AND WEALTH MANAGEMENT HOW CAN MY MONEY WORK FOR ME?

FINANCIAL PLANNING AND
WEALTH MANAGEMENT
HOW CAN MY MONEY WORK FOR ME?
ACTIVE INCOME
• Requires your presence, participation,
management
• Many years of preparation and skills.
• Quite affected by sickness, disability and
totally discontinued on death.
• Yet its very important to us because it
forms the basis of our passive income.
PASSIVE INCOME
• This is money working for you in your absence.
It brings income e.g rent, interest, dividends, and
on a smaller percentage business income.
• Some are paper assets(financial) or real estate
• The strategy you choose to convert your active
income to passive income is your current
financial status- where are you now?
PILLARS OF WEALTH
MANAGEMENT
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ACCUMULATION OF WEALTH
sacco
Banks
mortgages
Insurance policies
Offshore investment
Mutual Funds/ Unit trust
Real estate
Business
Shares
2.WEALTH PROTECTION
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What can eat my money?
Inflation
Sickness
Accident- personal, fire, burglary,riots etc
Poor planning
Peer pressure-entertainment
Air time-vision killer
3.WEALTH DISTRIBUTION
• writing a will
• Updating yearly the list of beneficiaries
• Mentoring.