SPONSORED: When it’s time to retire, will you be ready? Find out how you can plan for a financially secure retirement with the help of an accredited financial adviser. | OldMutualSA
Add to this the fact that you could live to your nineties thanks to medical advancements. If your retirement age is 65, this means you need to secure yourself a retirement income that will beat inflation and cover all your living costs and medical expenses for at least 25 years.
. Rather discuss your needs and options with your financial adviser. It's not easy to resuscitate a retirement fund that has suffered large cash withdrawals. and explore ways of saving money and stretching your budget. Consider tracking your spending and managing your money with a helpfulIn addition to finding ways to spend less, discover ways to earn more. Be creative when considering. If cultivating succulents, herbs and vegetables isn't your thing, what about “flipping” furniture . Or think of offering language, IT, art, music, dance or yoga lessons.
No tax on interest income is imposed on retirement funds. This benefits you if you're a taxpayer and belong to a retirement fund. Your adviser will be able to advise you on other tax breaks and how to manage your finances in the most tax-efficient way.Old Mutual Max Investments Optimal Retirement Plan
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