Retirement Planning

  • What you need to know to secure the biggest income possible at retirement
  • On 18 July 2018, I told readers that buying an annuity at retirement was a more secure way to ensure you don't run out of money. Rather than taking a lump sum and managing it yourself. Following this article, I received the following letter from G: “Francois, I read your email regarding retiring with R5.5 million and receiving a monthly income of R46,777 guaranteed for life. I just d... ››› more
  • [25 July 2018]
  • How would you like R5.5 million at retirement?
  • What would you prefer? A pay out of R5.5 million the day you retire, or lifetime guaranteed income of R46,772 per month every month till you pass away. If you started saving R300 per month towards your retirement in 1978 (roughly 7.5% of the average household income back then) you'd sit with exactly that choice today… So what's the best choice? How do you ensure that your money lasts you a... ››› more
  • [18 July 2018]
  • Why you need to think differently for retirement planning
  • It's never too early to start planning for retirement. And this means thinking somewhat differently about retirement planning for your later years. Have you ever stopped and asked yourself these questions? 1. How much will I need to save for retirement in order to live comfortably? 2. What are my retirement goals? 3. When should I start? 4. What should I do? 5. What costs might I... ››› more
  • [21 September 2017]
  • Eight reasons you won't have enough to retire - Here's what you need to do right now!
  • You won't have enough money to retire. I know I sound like the harbinger of doom, but it's a reality that you and most South Africans need to face up to. Now you might be asking, why am I saying this about you? Well, I am only looking at the statistics. The Financial Planning Institute of South Africa says less than a quarter of South Africans can afford to retire. If you think that's ... ››› more
  • [11 August 2016]
  • How to avoid the 20 most common retirement planning mistakes
  • There are so many things you need to consider when planning for your retirement. Of course, there's the obvious retirement planning concerns, like how much you earn and how much debt you have but there are other factors that could leave you scrambling around trying desperately to build up your retirement savings. To help you prepare for your retirement, I've found 20 of the most common ret... ››› more
  • [02 June 2016]
  • Two pitfalls that most retirees never see coming
  • Have you ever asked yourself, “Will you live as well as your parents did when you retire?” That's a question thousands of South Africans ask themselves everyday when they reach retirement. The sad truth is, the answer is probably always, “No, I won't” And, it's no surprise... You know the statistics that say, only a quarter of South Africans will retire comfortably. The rest wi... ››› more
  • [23 May 2016]
  • How to set up your very own DIY retirement fund
  • If you know just a few simple tricks you can take control of your own retirement back from your financial advisor - and save a small fortune in fees at the same time. Today, Aiden Sookdin speaks to the experts and explains exactly how to set up your own fool-proof retirement savings plan - DIY style. It's a lot easier than you may think. Just follow this simple four-step plan and you'll be well on... ››› more
  • [17 May 2016]
  • Planning for your retirement? Here's what a retirement annuity offers you…
  • Planning for retirement isn't an easy thing to do. There are so many choices about how you can save and invest for your future. One option you have is to contribute to a retirement annuity. So what exactly is a retirement annuity? And how do they work? Read on to find out more… What is a retirement annuity? A retirement annuity is a way to save for your retirement. You can... ››› more
  • [27 January 2016]
  • Book review: Start Poor, Retire Rich
  • If you're anything like me, not having enough money for retirement is something you worry about. I feel I'm running out of time and don't have enough put aside so that I can look forward to a comfortable retirement. So in searching for a way to ensure that I have enough put away for my later years, I came across a book called Start Poor, Retire Rich. From reading this book, I feel I know ... ››› more
  • [27 January 2016]
  • How to prepare for retirement
  • When you retire, you want to be in a financially secure position. This means taking the time now to plan and ensure that you stick to specific retirement planning goals so you achieve this end goal. Read on to find out more… What you need to do before you hit retirement You need to take steps now to ensure that retirement isn’t a time when you’re worrying about money. To do th... ››› more
  • [21 December 2015]
  • A guide to planning for retirement through the ages
  • You most likely already know that the earlier you start preparing for retirement, the better. From when you start work until you reach retirement age, there are certain things you should focus on in terms of planning for your retirement. Let's take a closer look… Planning for retirement in your 20s In your 20s, retirement planning isn’t likely to be top of mind, but this is whe... ››› more
  • [21 October 2015]
  • Planning for your retirement? Here are five options to consider…
  • Planning for your later years is no easy task. There are so many decisions to make. You know you need to make provisions and save for retirement, but what are your options? Read on to find out more about five ways you can fund or top up your retirement savings… How to plan for your retirement Planning for retirement is a time consuming task. Of course, the earlier you start the be... ››› more
  • [19 October 2015]
  • Retirement planning: Using endowments to help fund your retirement
  • Endowments, also known as endowment policies or endowment plans, are essentially savings vehicles provided by life assurance companies. Endowments can be a good option for you to consider for providing additional income once you reach retirement if you sit in a higher tax bracket. Let's take a closer look at endowments… What are endowments? Endowments are targeted savings plans. T... ››› more
  • [16 October 2015]
  • How to make your retirement comfortable
  • You no doubt know that planning for retirement from a young age gives you the best chance of achieving your financial goals for when you get there. To really prepare adequately for retirement, you need to spend time now making some decisions. This will help you plan more effectively. Let's take a closer look… Work out your retirement budget When you retire, the expenses you have n... ››› more
  • [14 October 2015]
  • How to begin planning your pension
  • It's never too early to start planning for retirement. And this means thinking about a pension or another way of investing for your later years. So what should you consider when it comes to finding the best pension solution for you? Read on to find out… The earlier you start planning for retirement, the better Read anything about retirement planning and you’ll no doubt come acro... ››› more
  • [01 October 2015]
  • How best to prepare for retirement
  • It's probably not a surprise to learn that many South Africans haven't adequately prepared for retirement and have little or no savings. Saving for retirement is something that you need to do. How else are you going to support yourself when you're older? You may think you don't have enough money to save towards retirement, but chances are you do. Read on to find out more… Stop was... ››› more
  • [03 September 2015]
  • Retirement savings: When it's ok to start spending your principal
  • When you're saving for retirement (or other goal), the one rule you should never break is never touch your principal amount. If you touch your principal amount, you're going to damage your future gains. But once you get a bit older, there will come a time when you can break this rule. So how do you know when it's time? Read on to find out… If you’re nearing or in retirement W... ››› more
  • [21 August 2015]
  • Four risks you need to be aware of with your retirement investments
  • When you put money to work for your retirement, you face investment risk. This investment risk will depend on what assets you invest in. It's easy to ignore risk and focus on how much your investments for retirement could return. For example, if you invest in a unit trusts that's shown good performance over the years, there's no guarantee this will continue. So what risks face your retire... ››› more
  • [01 July 2015]
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