A secure retirement
As previously discussed, it is vitally important to plan a route of wealth-building that can ensure a comfortable retirement.
Even if you are a contributing member of a company retirement fund, it is never a certainty that you will be able to cope financially during retirement.
It is strongly recommended to also have an alternative retirement savings plan that can be utilised as a means of subsidising one’s pension income during retirement.
This can really make an enormous difference during one’s retirement years.
During my many years as a financial planner, I can assure you that I have never come across even one person who complained that they had “too much money” for their retirement,
However, I have come across hundreds of people who have complained bitterly that they did not have sufficient funds to make ends meet during their retirement years.
How does one know how much one’s desired monthly income should amount to during retirement?
To arrive at a fairly accurate figure unfortunately calls for numerous and extremely complicated calculations.
To arrive at a figure most certainly cannot be achieved by any novice.
It certainly needs to be calculated by a properly qualified professional retirement planner.
There are numerous factors that should be considered when these complicated calculations are done.
I want to strongly advise that one should consult with an experienced retirement planner to obtain accurate advice to ensure a comfortable retirement for you and your loved ones.
Even if it is thought to be too late to start with a savings plan, it is certainly better to still gather a few thousand Rands than to sit and see how you slide further and further into a desperate situation.
A small amount saved at a late stage of life is certainly a lot better than to have nothing at all.
For many years one of the most secured retirement plans was the Government Employees Pension Fund (GEPF).
All GEPF members were afforded the luxury of a secure retirement, but unfortunately there has lately been lots of rather scary information that became public knowledge.
Although the GEPF stands at a total value of R1.8-trillion, we should take serious cognisance of the fact that the government of the day is transferring billions of Rand from the GEPF to try and rescue bankrupt stateowned enterprises (SOEs) from closing their doors.
With deep concern, Eskom has been bailed out with more than R90bn of GEPF funds.
Adding to that, one should refer to the many billions already owed by SAA, SABC, Denel and others.
We are being misled that these multi-billions were “invested” in these bankrupt SOEs.
One does not need to be a “rocket-scientist” to realise that an investment is made with the expectance to earn some growth, but in these instances, I am absolutely certain that the chances of these so-called investments ever materialising into positive returns, is ZERO.
For expert financial advice and retirement planning, offered with passion and careful consideration, feel free to phone my office on 087-805-7712 for a confidential appointment.
Our offices are situated at 20 Southwell Road, on the corner of Becker Street, Port Alfred.
We offer ample, free offstreet parking, as well as a ramp for easy wheelchair access.