Trying to plan for your retirement can be a minefield. There are lots of decisions to make and the worry that you might not have enough money to tide you over.
One popular option (and depending on your retirement planning, a must) is to buy an annuity at retirement. Whilst this does have its downfalls, it also has many upsides.
Let's take a closer look at why buying an annuity at retirement ... ››› more
As you get older, the consensus is that you should start to lower your exposure to stocks and put more money into ‘safer' investments like bonds and hold more cash.
But with retirees expected to live longer than they ever have before, is this still the case?
Let's take a closer look…
The classic retirement investment portfolio
Once you retire, you’re more likely to hold more c... ››› more
Can you afford to retire comfortably? Most people nearing retirement are haunted by this question.
When it comes to retirement planning, it's important to take time to familiarize yourself with what this period will mean for you, financially speaking.
After all those years you've dedicated time and energy into your work, retirement is the time to finally enjoy a comfortable, stress-free lif... ››› more
Retiring early is every busy worker's dream. You may love your job, but that doesn't mean you can't secretly dream of retiring early.
The biggest concern when it comes to retiring early is saving up enough money. Since we all have plenty of financial problems on a daily basis and we hardly ever have any money to spare, most often saving for retirement is not one of our priorities.
Don’t let... ››› more
How much should you save for retirement? This question is on everyone's mind sooner or later.
You should perform a reality check on a regular basis before retirement, to make sure you are on the right track.
Most financial experts recommend that you save between 10 and 15 percent of your current income for retirement.
It’s important to set certain targets and milestones when to reasse... ››› more
Depending on how close you are to retirement and what you wish to do during the golden years, you can be on the right track or not.
Planning for retirement means looking out for yourself. You can't rely on state pensions and employer benefits if you want to live comfortably during retirement. You need to take charge of your retirement by saving regularly and investing at your own comfort level... ››› more
If retirement is quickly approaching and you know that there is no more time to waste, then it's time to get more organized and determined in your planning.
Here is a checklist of things you should do before and during retirement, to ensure that you have everything under control.
1. Make sure you can afford to retire. You may want to retire when the time is right, but can you actually afford ... ››› more
When you're approaching retirement and have to consider all your options, it's possible to think about retiring abroad.
The decision to move abroad is not an easy one, and it should be treated with a lot of responsibility. Before making such an important decision, ask yourself a few questions.
Regarding health care
Health care is one of the biggest concerns for retirees looking to retir... ››› more
Is retirement knocking at your door? If you have only a few years or months to go until retirement, you should take care of certain issues first.
Here are five things you should do before you retire.
1. Determine how much money you will need each month
You may a rough idea of how much money you spend each month, but it’s time to get a more accurate view of your expenses. Determine a re... ››› more
Are you starting the countdown to retirement? Then you've got some serious planning to attend to.
Planning for retirement is an important part adult life. Before you enter the golden age, make sure you consider the following pre-retirement issues.
1. Pay off your debts
Going into retirement with credit card debt, car loans, or mortgages can seriously affect your budget. Make it a priori... ››› more
Are you knowingly neglecting saving for retirement? Do you often feel guilty about it, but your behavior remains the same?
If you find yourself with almost no retirement savings whatsoever and feel that time is not on your side, then it's time to analyze your behavior and stop the excuses that are keeping you from saving.
How do you justify your lack of effort? You may find that the followin... ››› more
You've made it well into your 50s and you're generally satisfied with your life, except for one small part: your retirement savings are almost insignificant.
What can you do to quickly catch up on your savings and make up for the lost time? Although you may have to stretch your limits, you can still manage to save enough.
Here is how.
Selling your home and moving to a small... ››› more
Retirement is a process that requires adequate planning. For many, retirement planning is not a priority, especially not in their younger years. But failure to plan ahead and, more importantly, save enough for retirement can cost you dearly.
Soon-to-be retirees cannot afford to make any mistakes when it comes to planning for their future since time is not on their side.
To avoid feeling overw... ››› more
You know what they say: the sooner you start saving for retirement, the better off you will be in your golden years.
What happens when you feel like you are running out of time when it comes to saving for retirement?
When time is not on your side, you have to take immediate action.
You may need to rethink your entire retirement planning. For instance, if you had planned on retiring at ag... ››› more
When you reach retirement, saving is not a priority anymore. After all, that's what you've been doing until now, right? Why should you be required to save more?
By the time you retire, you should have a clear picture of your spending habits and how much you can afford to save each month. This will help you establish a budget and spend less during retirement.
What happens if you can’t live c... ››› more
Disclaimer Note that FSP Invest, a division of Fleet Street Publications (Pty) Ltd, is a research house and not a registered broker, financial advisor or financial service provider. Our editors and customer services teams also do not give personal investment advice. The advice in this website is general advice only and may not be appropriate to your particular investment objectives, financial situation or particular needs, so before investing or if in any doubt about your personal situation, you should seek professional advice from a stockbroker or independent financial adviser authorised by the Financial Services Board.
We research our recommendations and articles thoroughly, but disclaim all liability for any inaccuracies or omissions found in this publication.
Remember: Never invest more than you can afford to spare and that the value of any investment, and the income derived from it, can go down as well as up. The past is not necessarily a guide to future performance.
Editors or contributors may have an interest in investments commented on in this newsletter. However they have signed restraints to prevent the abuse of their position as contributors to this publication.