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
According to biomedical gerontologist, Dr Aubrey De Grey, the next person to live to the ripe old age of 150 has already been born.
What if that's you?
What if you live till 80 or 100? Will you have enough money to last you that long after you retire?
Ten or twenty years ago, collecting your last paycheque at the age of 65 was a reasonable expectation. But as life expectancy and the co... ››› more
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
“The rand could hit R60 to the dollar by 2019: Chris Hart” - Business Tech
“Chris Hart: Nothing can prevent SA's slide to junk” - Fin24
I spoke to Chris about his recession and junk status predictions at the South African Investor member meeting on 24 May 2016. I asked him if he was misquoted in the media. However, he was adamant that he is right about these predictions.
One of the... ››› more
Do you know your magic number?
It's the number you need to retire one day or simply to live the lifestyle you want in say, the next 10 years?
It's a fact that by the time a person reaches retirement, sixty percent will not have enough money to live on.
If you're like me, I'm sure you don't want to be part of this statistic and even if retirement seems a long way off, maybe you're more ... ››› more
Every day I meet new people who continuously worry about the markets trampling on their investments. People feel anxious that investing won't give them enough to survive.
You see, retirement plays on most people's minds. And in today's times, the sad thing is, a retirement annuity isn't enough to retire comfortably and support your family.
What it really comes down to is answering these two ... ››› more
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
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
Not having enough money for retirement is a worry many people have.
Do you feel you don't have enough money put away? Or have you not even started making any contributions towards your retirement?
Whatever your worries about having enough money for a comfortable retirement, you can sort it out within ten years.
So how is this possible?
Read on to find out…
You just need ten ye... ››› more
Your financial aspirations may differ from your friends or family. But one thing you'll no doubt have in common is you want to build a solid financial backing, especially by the time you reach retirement.
Having a solid financial backing gives you independence and peace of mind.
So how can you achieve financial freedom by the time you retire?
Read on to find out…
How much you need... ››› more
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
Once you know how much money you need in your retirement savings when you stop work, have you checked if you're going to achieve it?
And what is the best way of checking?
Read on to find out…
Are you saving enough for retirement?
Once you know how much money you need in your retirement savings (read this article if you don’t), it’s vital to check you’ll achieve this goal.
... ››› more
If you don't spend time now calculating how much money you'll need when you retire, you may end up living a poorer retirement than you thought.
It's worth taking the time now to see how much you need so you can work towards having enough money when you get to retirement age.
The longer you leave it, the harder it will be to achieve.
So how can you calculate how much money you need in your... ››› more
Ensuring that you save enough for retirement isn't easy to achieve.
The last thing you want is to get to retirement age and not have enough money to keep you going through your later years.
So what can you do now to help you achieve your retirement savings goals?
There are two ways you can go about it.
Read on to find out what these strategies are…
Boost your retirement saving... ››› 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
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
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
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
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
How do you know if you're saving enough for retirement? That's a tough question to answer. Because no one can tell you how much you need to save - it largerly depends on your lifestyle, current income, and on your future plans for retirement.
One thing is for sure: most people postpone saving for retirement, thinking they will have plenty of time to save later, and instead focus on living well ... ››› 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.