Retirement questions

Rebooting retirement planning post Covid-19

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In a recent survey to assess the impact of Covid-19 on retirement planning*, 66% of respondents stated that the lockdown had affected them financially. Among the steps they had to take to stay afloat were: Finding another source of income Making special arrangements with creditors to pay their bills Asking family and friends for financial assistance. Over one-third of respondents dipped into their retirement savings. While some saw this as ‘borrowing’, a quarter of those who used their savings believe it is a permanent disinvestment or loss – which doesn’t […]

Retirement savings

Fast forward to what your life could be like after retirement

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Thanks to the sudden and widespread financial insecurity triggered by Covid-19 and the national lockdown, many of us have been brought face to face with the reality of our financial vulnerability. With no guarantee of a paycheck at the end of the month, we belatedly realise the importance of having saved for that ‘rainy day’. Those with healthy savings have a much better chance of weathering the Covid-19 storm, while those who put off this vital aspect of planning for the future – or worse, have been overspending on credit […]

Older businesswoman

When is the right time to retire?

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By virtue of her age, 65 year old Susan is entitled to pensioners’ discount at her supermarket. “But I’m not a pensioner,” she says, “And I’m certainly not old! “I’m still running my own successful business and keeping up a punishing schedule. I’m also still running – literally – although I’m not, and never have been, Comrades material.” Susan is typical of today’s ‘young-old’ generation (those aged between 65 and 75 years), who are challenging the stereotype of retired people pottering round the garden in their slippers, or baking cookies […]