“Gone Fishing with Retirement Savings Account”

Retired career public servant, Hau’ofa Sailasa has embraced his love for the sea and has gone fishing with his Nambawan Super Retirement Savings Account (RSA).

With his RSA, Hau’ofa Sailasa travels often from Alotau to Misima Island where he hails from, on fishing expeditions, enjoying also the company of his relatives.

“I enjoy fishing, and now I can continue to do this in retirement. You can see the benefits of saving more while you work and opening an RSA with Nambawan Super when you retire. You don’t have to be tied down with little to no finance.”

When you meet this man from Misima Island in the Milne Bay Province, his calm and respectful demeanor sets you at ease. However, he leaves ‘no stone unturned’ when it comes to encouraging others to take charge of their finances for a comfortable retirement.

“When I was nearing retirement, I thought about how everyone else would be on the payroll, except for me. I thought about what would happen should I run out of money. If you are in the same situation, it’s important to think about it constructively, so you can resist the temptation to use up all your hard earned savings in one go.”

Mr Sailasa said he observed how carelessly his former colleagues withdrew their entire retirement savings and had run out within months and even heard of those that were pulled into losing their retirement savings to fast moneymaking schemes that offered a quick turnaround of profit in a short space of time.

This smart retiree knows what a Nambawan RSA can do for you,“You can avoid a financial crisis in retirement by opening an RSA and getting the financial support and advice you need from Nambawan Super. I felt apprehensive when I was in the process of retiring, but the concept of having an RSA eased my concerns. It made sense to get fortnightly payments so I would have something for my living expenses. Then, the remainder of my RSA balance would continue to be invested so I could make more money through the interest I was earning.”

He advised that it was important to be wise and careful, and to set limitations on use, especially with money.

“So if you find it hard to do this, an RSA with Nambawan Super can help you with that. I have been an RSA Member with Nambawan Super since I retired in 2017. Unlike other funds, Nambawan Super has a proven track record, and was one that I knew I could trust.”

Mr Sailasa said that even after opening an RSA you have to think ahead and the pressures of spending towards family and children going to school can get you to spend all your retirement savings.

“That is why we also need to save towards an emergency fund that can complement our Nambawan Super retirement savings. The best time to do this is when you start working. When the time comes, you know you won’t have to depend completely on your RSA, which will become the main source of income, much later in retirement.”

He encouraged young people where he helps them at the Alotau United Church to gain confidence through financial literacy and money management. He advised them that by joining a fund like Nambawan Super they would be saving for the long term and would be grateful for it when they retire.

“My upbringing taught me not to rely on my parents, but on what little I had, and to make it last. If you can set a financial goal, and do this, you might just achieve financial freedom.”

Carol Kidu