Long-term Investing: Retirement
Did you know that only 4% of South Africans are able to retire? And up to 70% of South Africans have little to no retirement plan? Unless you’re expecting an inheritance or other windfall to show up before you reach your retirement years, it’s your responsibility to work hard, and save hard to achieve the retirement age and lifestyle you desire! Like any big expense or financial decision, retirement takes important planning and discipline. That doesn’t mean we need to be scared of it or overwhelmed, but we need to come to grips with what retirement really means and what we need to do to adequately prepare ourselves for the inevitable!
Chapter 1 : The Best Time to Start Was Yesterday
Albert Einstein coined the famous phrase : “compound interest is the eighth wonder of the world” and we fully agree! Let’s discuss how getting an early start to investing can mean so much more at retirement.
Chapter 2 : What investment vehicles should you use
We have traditional retirement investment vehicles such as the retirement annuity or a provident or pension fund through an employer, but let’s not forget there are various investment vehicles to make use of.
Chapter 3 : How much should you save
We have set out a few objectives to reach when it comes to saving for retirement, over time the more objectives you reach the more tax benefits and growth will be seen in your retirement investment.
Chapter 4 : How long do we need to plan for
With medical advancements being developed in leaps and bounds, we could very well live past 100, how does this affect not only your preferred retirement age, but how long do we need to ensure an income for.
Chapter 5 : Tax
Let’s learn about tax deductibility for registered retirement investment vehicles, tax implications upon access at your desired retirement age and how tax on the growth of your retirement fund works.
Registered retirement vehicles are bound by regulation 28 which restricts exposure to certain asset classes, another key aspect to understand is investment fees and how this affects your retirement amount over the long run.
Course Curated By:
Director and content/strategy advisor
Waseem has been in financial services for 13 years in various roles. From consulting and dealing with 300 IFA practices, setting up alternative distribution models, managing the national footprint for one of SA’s largest asset managers and developing B2B strategy with one of SA’s largest leading banks.
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