Here’s his story.
Around 20 years ago, Traven started preparing for his golden years by taking up a Retirement Annuity (RA) with one of South Africa’s most reputable personal investment service providers, contributing a modest amount every month.
Things went relatively well for a number of years, but then Traven was hit with some financial difficulties and had to stop paying his contributions.
Thankfully, some time later, things started looking up for Traven. He immediately contacted his provider, but was advised that the status of the RA had become ‘paid up’. This meant that he couldn’t reinstate his monthly payment. Instead, he would need to leave this RA as is, and start a new one if he wanted to continue building a retirement plan.
Of course, this was not ideal for Traven because he wanted a single growing investment. So, he put the whole issue out of his mind…
That was until he saw a television commercial for OUTvest, focusing on the benefits of the revolutionary ONEfee. He popped an SMS to the number featured at the end of the ad and was called back a short while later.
To his relief, Traven was assured that his existing ‘paid up’ RA could be transferred to OUTvest, easily. Better yet, assuming his previous RA was charging 3% a year in fees, he would now enjoy a 45% fee saving, which could boost his retirement outcome by up to 23% - all thanks to the ONEfee model. Plus, he now stood a chance to win R100 000 in the #RetireWithARaise competition.
Before he knew it, the transfer process was underway, as well as the setup of a new monthly contribution. In short, Traven’s retirement dreams were back on track.
And then he received a call. Yes, he was the winner of R100 000, which was to be paid into his RA!
Traven told us, “I was already impressed with OUTvest. So much so, that I used the online platform to expand my investment portfolio, opening up an additional investment to provide for my child’s tertiary education. And then, I won the R100 000 in my RA. I couldn’t be happier!”
We wish Traven all the best going forward. And, of course, we’ll continue to help him track his investments to make sure he achieves his financial goals.
To everyone else, remember that an RA transfer to OUTvest can be very simple. We do all the hard work. You only have to sign a couple forms. Plus, you too will have the chance to win, because there’s another R100 000 up for grabs before the end of October 2020.
Here’s to a better retirement.
Need more information on retirement planning? Simply speak to one of our qualified financial advisors.