Explore the Category
Get out of the sandwich trap. New pressures are making it harder than ever to plan for a financially secure retirement, but it remains critical. Understanding the problem is the first step.
A few weeks have passed since the political drama that unfolded which caused South Africa’s sovereign risk downgrades to junk status by key ratings agencies, S&P and Fitch. It is clear that tough economic times lie ahead; so what retirement strategies should South Africans consider to navigate their finances amidst the storm?
Millions of South Africans face a future of working well past the retirement age in order to shore up their finances. Inadequate financial planning means many face running huge shortfalls on what they would actually need, in order to retire contentedly.
The recent decision by Standard & Poor’s (S&P Global) to downgrade South Africa’s sovereign credit rating to “junk status” has caused panic among retirement fund members. Importantly though, one should consider how this impacts on one’s plan to retire comfortably.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?