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What is the cost of your retirement? Knowing this number is a critical part of the retirement planning process. If you don’t find out, then you will not be able draw a savings plan that has a high probability of meeting this target, or to monitor your progress, and take corrective action when necessary.
A recent retirement study has revealed that 84% of respondents dismissed a comfortable retirement as nothing more than a romantic fantasy. A possible reason for this view is that the retirement industry has so frequently broadcast the message that fund members won’t have enough money to retire on, that many no longer try to save.
The advent of increasingly sophisticated online financial calculators and tools is proving to be a welcome reality check for many South Africans planning for retirement. The tools help to empower them with the information and knowledge needed to take more responsibility for themselves and effectively address any issues that could prevent them from maintaining their lifestyles during their retirement years.
The retirement industry has been receiving a lot of press lately, largely due to the current state of the retirement industry in the country and the number of people that are able to retire comfortably in the country.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?