Financial planning is a process that helps you to plan how your money will be spent, save for the future and invest to meet your goals. It’s important to find a qualified financial planner who can help you decide about such things as:

Achieving specific financial goals;

Paying off debt;

Protecting against risks such as illness, disability or death; and investing for income (e.g. pension) or growth (e.g. shares).

How much do financial planners earn in Namibia?

The average salary for a financial planner in Namibia is R48,000. This is slightly higher than the average annual income per person in Namibia (which currently stands at R34,000). The average salary for a financial planner in South Africa is R85,000. The average salary for a financial planner in the US is US$75,000 (this figure includes both senior and junior planners).

What is the role of a financial planner?

Financial planners help their clients make better decisions about their finances. They can help you plan for retirement, save money and make more money, and plan for the future. A financial planner can also assist you in putting together a budget or developing a financial plan that helps you reach your goals.

How do I become a financial planner in Namibia?

Financial planning is a dynamic and exciting career path that requires a high level of commitment, passion, and integrity.

To become a financial planner in Namibia you can:

• Study for an Honours degree or diploma in financial planning at the University of Namibia (UNAM). There are four-year undergraduate programmes available on campus as well as three-year post graduate diplomas.
• Seek accreditation from the South African Institute of Financial Planners (SAIFP). The SAIFP offers certification courses for those who already have additional qualifications such as an honours degree or diploma but want to develop their knowledge further by passing exams set by SAIFP. Once certified you will apply for membership with SAIFP which allows you to use their professional designation.

What are the six basic steps of financial planning?

• Identify your goals
• Create a budget
• Investigate your insurance needs
• Review your investments and get recommendations on how to tailor them to meet your goals and tolerance for risk
• Prepare for retirement (shouldn’t take too long if you’ve already done steps 1-4!)
• Review the estate plan you’ve already established and consider changes based on any new goals or changes in circumstances since initial planning (marriage, divorce, children)