Retirement Planning

Retirement Planning

Statistics show that approximately only 8% of South Africans can afford to retire. For the majority of people that reach retirement age, they are in the unfortunate position that they either need to continue to work into retirement, or are financially dependent on family members.

Will you have enough money to retire?

The three key drivers of achieving your retirement goal are:

  1. how much you save
  2. how long you save for and
  3. The return you earn on your investment.

Therefore the sooner you start saving, the less you need contribute and it is important to start as soon as possible with retirement savings. You also need to choose the most appropriate retirement vehicles to achieve your goals.

A Retirement Annuity is just one of the vehicles that you can use to save for retirement. The premiums are tax deductible within certain limits, accumulative funds are protected from creditors and proceeds do not attract estate duty.

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