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How much is enough to retire on? The Retirement Expo has the answers!

29 August 2013 The Retirement Expo

If you’re 45 and older, you’ll know that life in the 45 plus lane is anything but boring! But do you know that the Retirement Expo 2013, with presenting sponsor Efficient Group, is designed for you and about you, now and in the future? That’s right, healt

Diarise the third annual Retirement Expo from 25-27 October 2013 at the Coca-Cola dome in Johannesburg, for a thoroughly entertaining day out exploring lifestyle options for the here and now, along with strategies to boost your retirement planning and lifestyle for the future. Come learn how to Live. Plan. Play!

Consider this: 15% of South Africans don’t plan on ever retiring, while another 15% plan to retire but don’t save for it and 41% believe they’ll have to work after the age of 65. These thought provoking statistics were revealed in the Visa Wealth Worries 2013 survey and challenge us, as a nation, to put more focus and effort on planning for retirement.

When it comes to retirement, the most asked question is: How much do I need to retire?

Of course the answer is neither easy nor straightforward, but Retirement Expo media partner, You’ve Earned It (YEI), provides a succinct and simplified answer to this complex question.

YEI advises that, assuming you are debt-free when you retire, savings of 12 times your annual salary, will likely buy you a comfortable retirement and the ability to maintain your standard of living. If you’re the main breadwinner and need to support your spouse, you should work on a multiple of 15. Soundly invested, this capital should yield an annual real return of 3%. So if you earn R1-million a year now and retire with R12 million in savings, you can expect a monthly income of R30,000 a month, before tax.

So how do you achieve this goal and ensure a comfortable retirement? What other factors might influence the numbers you should aim for? What indeed are the financial milestones to aim for in the course of your planning? Is it true that the world’s population is aging and that countries around the world are either doing away with an official retirement age or increasing it? At what age should you retire? What can you look forward to in retirement? How do retirees fill their days?

You’ll find answers to all these questions and more at the Retirement Expo, where knowledgeable exhibitors are standing by to fulfill your needs and bona fide experts will offer deep insights and compelling information at our FREE workshops on retirement and lifestyle topics.

Aimed at everyone aged 45 or older, the expo will also present retirement planning products; lifestyle, health, financial and other services; travel destinations and options; health products and services; home, hobbies and fitness products; retirement and holiday properties; as well as security and care products and services.

For more information visit www.retirementexpo.co.za and to engage with exhibitors and start getting the answers you seek, follow @retirementexpo on Twitter and find us on Facebook!

Quick Polls

QUESTION

The South African authorities are hard at work to ensure the country is removed from the global Financial Action Task Force grey-list by February or June 2025. What do you think about their ongoing efforts?

ANSWER

But what about the BRICS?
Compliance burden remains, grey-list or not.
End-2025 exit is too optimistic.
Grey-list is the new normal.
Too little, too late.
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