A little more now, goes a long way later…
Retirement isn’t for everyone – and in fact – many more people around the globe are choosing to continue working because it gives them a reason to keep going, keeps the mind stimulated, and decreases depression.
However, it’s not a guarantee that you could continue working. Often health challenges and old age eventually catches up. If you aren’t able to continue supporting your lifestyle without working, you’ll have to either live on far less than you’ve been used to – or rely on family members.
A whopping 94% of South Africans don’t have a choice of retirement. According to the 10X Investment Retirement Reality Report (2020), just 6% of South Africans can afford retire. The past couple years has probably compounded this reality even further.
At BFC, we are actively working against the “no-choice” scenario. We don’t want you to be struggling in your final years, and nor do we want you to be a burden on children or family.
This is why we are encouraging clients to take a hard look at your monthly expenses (we are happy to help you through this exercise), to see where you might be able to cut cost in order to put a little extra into your Tax Free Savings, Investments, or Retirement Annuity.
“Instead of getting my nails done every fortnight, I now put that R900 a month into my savings instead.”
Bianca, age 31