If you know you are behind with your retirement savings, the worst thing you can do is nothing.
If you find yourself lagging in retirement savings, the prospect of bridging the gap – especially as retirement draws near – can seem daunting, even insurmountable.
Reducing expenditure: Be ruthless with your discretionary expenditure and find ways to cut back on any costs that could otherwise be channelled towards your retirement funding. Where line items have held space in your budget for some time, it’s easy to overlook them as essential expenses, so be intentional about looking at your budget with a fresh set of eyes.
Generating additional income: The development of the ‘gig economy’ has given rise to a number of innovative ways to generate additional income with very little in the way of start-up costs. Dog-walking, house-sitting, child-minding, and tutoring are excellent ways to generate additional income, with a number of online portals available to register your services and generate leads.
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.
Financing Africa's sustainable growth: strategies and outlookInsights into improving Africa's attractiveness for investment through governance, education and sustainable trade
Read more »
Navigating Business Fundraising: Our Custom CFO StrategiesSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
Empowering future generations: Strategies for raising financially confident childrenNurturing financially confident children requires intentionality, patience, and a commitment to imparting lifelong financial wisdom.
Read more »
Challenges and Strategies for Local Investors in Volatile MarketsFedgroup's Michael Field discusses the biggest challenges facing local investors and provides strategies for mitigating risk in volatile markets. He also emphasizes the importance of diversification and the role of financial advisors in navigating market volatility.
Read more »
Phone Makers Intensify IOT and IOE Strategies in SAPhone makers are diversifying their product offerings and opening up new revenue streams by intensifying their Internet of things (IOT) and Internet of everything (IOE) strategies in SA. They are looking to transform their businesses and gain a competitive edge by taking advantage of opportunities in the local IOT and IOE space.
Read more »
Timing is Key: The Golden Path – Strategies for Successful Gold TradingGold has always been highly regarded as a valuable and desirable asset, drawing in traders and investors who want to take advantage of its stability and profit potential.
Read more »