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A retirement fund, if smartly invested ensures that old age is provided for and that quality of life is maintained.
The reality is however, that more than half of today’s pensioners have not done enough to ensure this.
Recent industry studies indicate that only six percent of South Africans have accumulated enough savings to retire comfortably.
Mirroring global trends, South Africans are living to be older and as a result need to work longer or save more in order to maintain their standard of living.
Judging by these statistics, there is a serious need for South Africans to protect their income whilst in retirement – this includes you!
It’s a fact that traditionally, women have left retirement savings to men. Women took up the roles of wives and caregivers of children. They were not in pursuit of active careers. Nor were they proactive in planning for retirement.
Thankfully times have changed. Because women now have active careers, they have taken on the joint responsibility of saving for retirement.
But, retirement is not only about money, it’s about living. And living through retirement will no doubt turn your lifestyle upside down.
You spend approximately thirty eight years working. When you retire, your day-to-day activities automatically decrease.
Removed from the rat race, you often go from having no free time to do anything, to having all the time in the world.
Adding to the stress of nothing to do is the fact that all of a sudden, you share every minute of every day with your spouse.
Rewind thirty years to your honeymoon days and this may seem like a great idea. But after thirty years together, it may actually seem like work.
Changes like these means that you cannot only prepare for the financial aspect of retirement. You need to prepare for the emotional changes as well. This includes the effect that retiring will have on your well-being, your friendships and your relationships.
Steps to follow for a happy retirement:
Step 1:
Women should save for retirement in their own right and take out annuity income when they retire. Consult with a financial advisor to put a plan in place to save for retirement.
Step 2:
Don’t wait for retirement to find interests that make you feel good about yourself and that you are passionate about.
Step 3:
Work on your relationship with your spouse and cement strong friendships before retirement. This way, you can go through the imminent changes of retirement together!
I have learnt that we never stop learning in our lives and that change is constant. Retirement is just another aspect of our lives that we can prepare for. Preparing for retirement will enable you to continue living your life to the fullest.
Follow Women24 on Twitter also, like us on Facebook.
The reality is however, that more than half of today’s pensioners have not done enough to ensure this.
Recent industry studies indicate that only six percent of South Africans have accumulated enough savings to retire comfortably.
Mirroring global trends, South Africans are living to be older and as a result need to work longer or save more in order to maintain their standard of living.
Judging by these statistics, there is a serious need for South Africans to protect their income whilst in retirement – this includes you!
It’s a fact that traditionally, women have left retirement savings to men. Women took up the roles of wives and caregivers of children. They were not in pursuit of active careers. Nor were they proactive in planning for retirement.
Thankfully times have changed. Because women now have active careers, they have taken on the joint responsibility of saving for retirement.
But, retirement is not only about money, it’s about living. And living through retirement will no doubt turn your lifestyle upside down.
You spend approximately thirty eight years working. When you retire, your day-to-day activities automatically decrease.
Removed from the rat race, you often go from having no free time to do anything, to having all the time in the world.
Adding to the stress of nothing to do is the fact that all of a sudden, you share every minute of every day with your spouse.
Rewind thirty years to your honeymoon days and this may seem like a great idea. But after thirty years together, it may actually seem like work.
Changes like these means that you cannot only prepare for the financial aspect of retirement. You need to prepare for the emotional changes as well. This includes the effect that retiring will have on your well-being, your friendships and your relationships.
Steps to follow for a happy retirement:
Step 1:
Women should save for retirement in their own right and take out annuity income when they retire. Consult with a financial advisor to put a plan in place to save for retirement.
Step 2:
Don’t wait for retirement to find interests that make you feel good about yourself and that you are passionate about.
Step 3:
Work on your relationship with your spouse and cement strong friendships before retirement. This way, you can go through the imminent changes of retirement together!
I have learnt that we never stop learning in our lives and that change is constant. Retirement is just another aspect of our lives that we can prepare for. Preparing for retirement will enable you to continue living your life to the fullest.
Follow Women24 on Twitter also, like us on Facebook.
