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Let’s say you’re 28 years old, earning R30 000 a month and you have R70 000 in retirement savings. Now let’s look at the difference between contributing 5% and 10% of your monthly salary to your retirement fund from here on.
The Finance Minister’s 2019 Budget had its central focus on the issue of Eskom’s dire financial position and how it would be funded and restructured. The Budget contained few surprises, which was probably to be expected in an election year.
Working out how much is JustEnough to save for retirement is sometimes not a priority when simply making ends meet is a struggle. But realistic retirement planning is important if we want our retirement income to match what we expect it will be.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?