I recently sat down with a family friend, W, that's nearing retirement. He has 12 years to go.
W will pay off his house by the end of this year.
Both his and his wife's cars are paid off.
But W doesn't have ANY provision made for retirement.
As we sat and discussed his options I realised W had to ask himself ONE question before we could continue - and this question would turn out to a R1... ››› more
Are you considering consolidating your retirement accounts but don't know why you should do it?
You can consolidate retirement accounts and transfer the money from several accounts into a single account in order to save time, energy, and stay organized and on top of your finances.
Here are a few reasons why you should consolidate your retirement accounts.
You pay less in fees
It’... ››› more
Retirement planning is a process that should be started as early as possible. Hiring or consulting a financial planner is often a good idea, because a professional can help you avoid certain costly mistakes.
Since you have decades to plan for retirement, you have enough time to prevent certain mistakes that may cost you dearly down the road.
Here are some of the most common retirement mistak... ››› more
When you've only got a few years to go until retirement, every rand counts. Your main priority should be to increase those retirement savings.
What is unfortunate is that most retirees run out of money ahead of time, especially if they keep their preretirement lifestyles.
The best way to survive retirement without running out of money is learning how to stretch out your savings and how to m... ››› more
Are you considering relocating after you retire? Many soon-to-be retirees consider this option, either because they want to live on less, either because they want to change the scenery.
Before you make such an important decision, however, you must carefully assess all the pros and cons of relocating. Maybe you haven't taken all aspects into consideration, so it's time you should.
Here are fiv... ››› more
There comes a time in everyone's life when one starts thinking more seriously about retirement.
Whether retirement is quickly approaching and you feel that you are falling behind on your savings, or you want to make sure your retirement savings strategy is on the right track, it's recommended that you get in touch with a financial advisor who can help you choose the most suitable saving and in... ››› more
If you're in your thirties, chances are that retirement planning is not one of your priorities. If that is the case, it's time to change your perspective a bit.
Why? Because it's never too early to start saving for retirement. Actually, the sooner you start, the better.
How do you get started?
First of all, it’s completely understandable if you’re still uncertain when it comes to your... ››› more
Have you asked yourself if you are ready to retire?
Retirement doesn't ask before it comes knocking at your door, so you must be prepared.
Determining whether you have enough money to retire comfortably is the first step. After that, if you still have to catch up on your retirement savings, it's time to take action.
When trying to determine how much you need to retire and how much you hav... ››› more
When you turn 60, retirement seems just around the corner. Although that may be true, it's never too late to prepare for retirement, not even in your 60s.
There are plenty of things to consider once you've reached 60, including how much money you still need to save.
The main question on everyone’s mind once they’ve turned 60 is: do I have enough saved up for retirement?
In order to ... ››› more
Planning for retirement can become quite frustrating at times, especially if you start saving late or can't afford to save enough each month.
However, you can always play catch up on your savings and you can make sure you don't make the following five mistakes that could ruin your retirement plan.
Retirement mistake #1: Withdrawing money from your retirement account
If you’re in despe... ››› more
When it comes to retirement planning, women should be extremely careful. Since they generally work for fewer years and earn less than men do, they need to plan ahead and budget their money even more carefully.
Women can prepare for retirement by doing the following.
Retirement planning tip #1: Understand your retirement needs
Before you start saving for retirement, you need to understand... ››› more
Are you excited about retirement? We all want to retire comfortably and be able to afford to do everything our heart desires, but not all of us have this privilege.
Retirement should be the time when you finally get to do whatever you want, when you should feel free and on top of the world.
Whether you have been planning for retirement for a long time or you’re still uncertain what you wan... ››› more
If you're in your 40's, you probably know by now that you should be saving for retirement. Ideally, you should also have a decent amount saved up already for this period.
Many 40-year-olds have a poorly-defined retirement strategy. Perhaps they have been busy making other plans or simply haven't had the time and resources to properly plan for retirement. But if you're already in your 40's, savi... ››› more
Everyone wants to retire comfortably, but many people get stuck somewhere along the way.
Saving enough for retirement takes time, discipline, and sacrifice.
Once you've managed to save enough to live comfortably during retirement, another problem emerges: being able to stretch out your retirement savings so you don't run out of money.
Many retirees are faced with a dilemma: how much of t... ››› more
If you want to live comfortably during retirement, you need to start planning early - the sooner, the better.
Smart investments are crucial in retirement, in order to guarantee a higher income during your golden years.
When building your retirement portfolio, make sure to consider the following four retirement investments.
Retirement investment #1: Safe investments
You always want to... ››› more
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