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Unlock Your Dream Retirement with Sanlam's Cumulus Echo Retirement Plan

Saving for retirement is a crucial step towards securing a comfortable and fulfilling future. Whether you dream of maintaining your current lifestyle or have grand plans to explore the world, the Sanlam Cumulus Echo Retirement Plan is designed to reward your commitment to saving with its unique Wealth Bonus® feature. It boosts your retirement savings and paves the way for a worry-free retirement.

How the Cumulus Echo Retirement Plan works

    • You can either contribute a lump sum, or make regular monthly payments to the retirement annuity policy.
    • Retire at any time from the age of 55 and receive a Wealth Bonus to enhance your retirement savings.
    • Select from a diverse range of high-quality investment funds. Your payments are invested in the fund of your choice, and are expected to grow over time, based on its performance. Your Voorpos financial advisor will assist you in choosing the most suitable fund for your needs.
    • The longer and more you save, the higher your Wealth Bonus becomes. It could even exceed the policy's fund value.
    • Upon retirement, you can withdraw up to one-third of your retirement savings, including the Wealth Bonus, in cash.

Investment Options

Here is a breakdown of the investment options:

Core Product Option

  • Satrix Lifetime Investment Option

Comprehensive R28 Product Options

  • Satrix Lifetime Investment Option.
  • Diversified Lifetime Investment Option.
  • Diversified Lifetime Investment Option Plus.

The benefits of the Cumulus Echo Retirement Plan:

    • The Wealth Bonus makes this plan one of the most cost-effective savings options available today.
    • You have a selection of meticulously chosen investment funds for easier decision-making.
    • It offers the option to request a premium holiday during financial challenging times.
    • Contributions are tax-deductible, leading to reduced monthly income taxes. You also benefit from not having to pay taxes on interest, capital gains, or dividends earned.
    • The funds are accessible only from age 55, preventing misuse for non-retirement purposes.
    • Your retirement savings are secure, even from personal financial loss. It is generally also inaccessible to creditors.
    • You can switch freely between investment funds, offering flexibility as your needs change.
    • Aiming for maximum growth in the early years, your financial advisor will gradually transition to more stable funds as retirement approaches.
    • The plan’s optional waiver of premium benefit ensures contributions are paid in the event of disability, safeguarding your retirement goals.
    • The Cumulus Echo Retirement Plan offers financial support for your dependents' educational needs, should you pass away.
    • The plan adjusts your Wealth Bonus® with consideration for inflation, ensuring retirement savings maintain real value over time.
    • Your Voorpos Financial Advisor will keep you up to date on your investment performance and your Wealth Bonus® status. We will help you stay informed and proactive.
As you embark on the journey of planning for your retirement with the Sanlam Cumulus Echo Retirement Plan, it's essential to understand the profound impact of compound interest on your financial future. Saving money not only allows you to accumulate additional amounts over time but also enables you to earn interest on your savings, turning the principle of "earning money for doing nothing" into a reality.

The Cumulus Echo Retirement Plan leverages the power of compound interest, a force that works for you, not against you. The greatest advantage of saving lies in activating this invaluable wealth building principal. By earning interest on both the initial amount and the accumulated interest, your retirement savings experience exponential growth. This is a stark contrast to incurring debt, where compound interest would work against you.

After 20 years, the return on your savings is more than double the amount saved over the same period.

Remarkably, after 40 years, the return is an impressive 10 times greater than the initial savings amount.

Comparing scenarios:
Phindo vs. Peter

Consider two scenarios:

Phindo starts saving R500 per month from age 20, while Peter begins saving at age 35 with the same monthly payment. Peter, recognising the gap, makes an additional one-off payment of R90,000 to catch up.

The results are striking:

At age 55, Phindo has 77% more to either reinvest or draw an income from. Even if Peter adds a 10% annual payment growth, he still falls more than R300,000 short of Phindo.

The key takeaway is clear:

The best time to start saving was yesterday, but the second-best time is today!
*Source: Sanlam Intermediary article | April 2023 | Get the power of compound interest to work for your clients

Securing your children’s future:

The Cumulus Echo Retirement Plan recognises the challenges faced by the younger generation, with 58% unable to afford to save. However, starting early is emphasised as the eighth wonder of the world - compound interest. Time is a crucial factor, and the longer money is left to compound, the quicker it grows.

Why a Retirement Annuity (RA) is the solution:

  • Protection:
      • Your children cannot access the funds before 55.
      • The investment is protected from creditors.

  • Flexibility:
      • You can invest in a wide range of funds, risk-profiled solutions, and share portfolios.

  • Affordable:
      • The Cumulus Echo RA allows for a low starting point, with monthly payments as low as R200/R300.

  • Tax Benefits:
      • The government incentivises retirement savings by offering considerable benefits.
"Investing in your retirement is like planting a tree. The best time to start was yesterday, nurturing it with regular care and attention. The second-best time is today, where each contribution is a seed that grows into a flourishing future. With the Sanlam Cumulus Echo Retirement Plan, you not only harness the power of compound interest but also cultivate a garden of financial security, where dreams bloom into reality, and the fruits of your commitment ripen into a worry-free retirement."

- Chantelle Coetzee
Are you ready to start saving and reaching your financial goals?

Of course you are!
Ready, steady, go!