You make up more than half the workforce in South Africa and typically stay in your job for less than three years.

Life Cover

• You need some basic life cover for debt

Disability

• You need proper disability cover. This cover is cheap at your age but can make a massive difference in your life should you become disabled

Critical Illness cover

• This covers diseases like cancer and heart attacks. The cover is cheap at your age and the chances of you getting them are slim.  However, should you ever have health issues in later life, at least you will have this cover in place.
• Side note: Most heart attacks happen in the early 40s which is when you will really need this cover.  It could be a good idea to get covered while you are young and healthy.

Retirement savings

• Most companies have a pension scheme of sorts. Make sure you choose a very aggressive portfolio.  You have 30 years before you will need that money so you can afford to ride out any stock market movements.
• Preserve your money when you change jobs.
• Unless you are earning a lot of money and have a high tax rate, look at investing in vehicles where the proceeds will be tax free rather than going for investments where you get a tax break on your contributions

Medical

• Until such time that you have dependents, a decent hospital plan with Gap cover should suffice

Investments

• Create an emergency fund for short term cash crises
• Pay off any debt before you invest in any fancy schemes

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You are starting to move up career wise and are starting to get on top of things financially.  You will probably have children and need to factor them into your planning.

Life Cover

• You will need a decent amount to cover any debt and to make provision for your family.

Disability

• You need cover to protect yourself and your family during these critical years.

Critical Illness cover 

• Most heart attacks happen in the early 40s. You need this cover to protect your family’s finances should you get cancer or have a heart attack.

Retirement savings

• You can still afford to be aggressive in your pension fund investments.
• Preserve your money when you change jobs.
• You should be getting into your higher earning years so look at the tax breaks from investing in a retirement annuity.

Medical

• You need a decent medical scheme with Gap cover.

Investments

• Create an emergency fund for short term cash crises.
• Pay off any debt before you invest in any fancy schemes .

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You are hitting your peak career wise and your earnings are starting to outstrip your expenditure.  You are starting to enjoy something you haven’t seen since your early 20s – disposable income.

Life Cover

• You will need a decent amount to cover any debt and to make provision for your family.

Disability

• You need cover to protect yourself and your family.

Critical Illness cover 

• If you haven’t had one, you will have had friends that have had a critical illness. You need this cover.

Retirement savings

• You need to start being less aggressive with your pension fund investments but must still look to be in growth assets.
• Preserve your money when you change jobs.
• You should invest as much as possible into retirement annuities as there are decent tax breaks and you can start maturing them from the age of 55.

Medical

• You need a decent medical scheme with Gap cover.

Investments

• Create an emergency fund for short term cash crises.
• Start considering estate planning when structuring your investments.

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You are in the last stretch career wise.  Your children have left home (and have probably returned).

You typically have to pay for tertiary education.  The reality of what you are going to live on in retirement is starting to loom large.

Life Cover

• You will need small amounts of cover to cover any debt and to make provision for estate duty.

Disability

• No longer a critical need.

 Critical Illness cover

• Probably the most important risk cover that you have.

 Retirement savings

• You need to start aligning your pension fund investments with the type of pension you want to choose.
• Preserve your money when you change jobs.
• You should invest as much as possible into retirement annuities. Speak to me about how to recycle money to maximise the tax breaks.

Medical

• You need a decent medical scheme with Gap cover.

Investments

• Create an emergency fund for short term cash crises.
• Estate planning is an important consideration.

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Medical bills are using up an increasing amounts of your pension as medical inflation outstrips your pension increases.  Post-retirement medical aid premiums along with medical costs cause headaches.

Have the children left home yet?

 Life Cover

• You will need small amounts of cover to cover any debt and to make provision for estate duty.

Disability

• No longer needed.

Critical Illness cover 

• Probably the most important risk cover that you have.

Medical

• You need a decent medical scheme with Gap cover.

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