Ali Al Gwaiz, Chief Executive Officer of The Family Office International Investment Company, spoke to Argaam about the importance of financial planning for retirement to preserve your lifestyle and protect the financial future of your family. Below are the highlights of the interview:
The pension income is rarely enough to sustain the lifestyle that employees and their families had grown accustomed to. They will face financial difficulties and be forced to compromise and sacrifice a lot.
It is very important to have a plan to create wealth and an appropriately sized portfolio to serve as a source of additional income during retirement.
The earlier a practical and realistic plan for saving and investment is developed, the easier and more effective the implementation will be. Post-retirement financial planning requires a realistic mindset, a highly disciplined lifestyle, and prioritization of spending and savings to achieve the desired goal.
The type of assets one must include in a retirement portfolio depends on the person, their financial status, financial needs and investment objectives. For optimal results, seek the advice of a licensed investment firm that has the competence and ability to source the appropriate investments for the retirement portfolio and manage it effectively.
It is advisable to include illiquid alternative investments in the short term that are usually immune to market fluctuations, in addition to investments that are diversified across asset classes and geographical areas to balance the returns and risks.
An investment portfolio serves as a safety net for businessmen and self-employed people against losses or declining income from their business.
We invite you to watch the full interview to learn more about financial planning for retirement as well as the investment strategies adopted by our company to preserve and grow wealth.
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