Importance of Retirement Planning
Planning for retirement is planning to achieve financial freedom and independence at the earliest possible age so you can do the things you don’t have time for during your working life and enjoy your golden years.
Most people simply do not effectively plan for retirement during their working lives and assume that they are okay. It is a fact that less than 10% of South Africans are able to retire financially independent.
Start Early
The success of your retirement plan is largely dependant on how early in life you start. More time to plan, means you have a longer period during which you can contribute towards your retirement fund. In most cases, your pension is dependant on the size of your nest egg.
Build Your Own Retirement Portfolio
After we’ve crunched the numbers, you have a number of options to invest in.
This includes Retirement Annuities, Endowments, Unit Trusts and Share Portfolios.
All of these will form part of your own retirement portfolio.
Please see the section on investment planning for more info on investment options within a retirement plan.