Q&A: How do I save enough for retirement?

The definition of retirement is different for everyone. Picture: 123RF/ANDRIY POPOV

Most “retirees” continue to remain engaged and active after formal retirement age and generally only slow down when they choose to. Determining how long you plan to work for yourself, as you now are, is a key date in your financial planning and a financial planner can help you calculate how much money you are likely to need to fund your retirement.

Consider a second income to top up your earnings — something you can do or be involved in outside your current business commitments. Reflect on your interests and hobbies, teaching a critical skill or mentoring someone. Could you convert this into a source of income?

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Q&A: How do I save enough for retirement?Savings in a bank account need to be supplemented with equity investments
Source: BDliveSA - 🏆 12. / 63 Read more »

Personal Finance Q&A: Where to invest my rental incomePersonal Finance Q&A | When I reach retirement age, must I invest my provident fund in an annuity or can I just build a unit trust portfolio and draw a yearly “salary” of not more than 4%?
Source: City_Press - 🏆 7. / 72 Read more »

Final suspect arrested for Stella Londt retirement home murdersEastern Cape police have arrested the final suspect for the brutal murders of two elderly people at the Stella Londt Retirement Centre These murders happened on the 10th of October 2019, not the 10th of September
Source: TimesLIVE - 🏆 28. / 59 Read more »

Approval ratings drop shows French have had enough of MacronPresident remains unpopular even after striking a compromise with France’s biggest trade union to ease the gridlock on public transport Are they for real? Or have they explored other supplies ?
Source: BDliveSA - 🏆 12. / 63 Read more »

Approval ratings drop shows French have had enough of MacronPresident remains unpopular even after striking a compromise with France’s biggest trade union to ease the gridlock on public transport
Source: BDliveSA - 🏆 12. / 63 Read more »

Water-saving tips for summer gardeningIf you’re planting vegetables and plants, it’s a good idea to group those with similar watering requirements together.
Source: TheCitizen_News - 🏆 6. / 75 Read more »