Retirement income planning

Inflation is like rust on a car. At first, you might not notice it. Over time, it slowly spreads, and by the time you see it, the damage is more extensive than you realised. Just like rust, inflation can creep up on you, causing significant issues if not addressed early.

While assumptions are a necessary part of retirement planning, do pay attention to them and consider how your circumstances might evolve over time and whether they are, in fact, ‘best guesses’. 

Achieving a comfortable retirement requires careful consideration, financial planning, and informed decision-making. And there’s no better time to start preparing than February, also known as retirement season. But where do you start?

If you are approaching retirement, we hope you consider using some quality time with family and loved ones to connect and discuss your future retirement plans with them.

This is the fifth article in a series on planning for retirement, which looks at late retirement and the often opposing goals of having a lasting income and leaving a legacy. Our first article looked at pre-retirement planning considerations, the second looked at navigating the transition phase of retirement, and the third explored the active or ‘go-go’ phase. In the fourth article, we looked at the passive phase of retirement.

World Alzheimer's Day on 21 September marks a good opportunity to think about the future and how to plan for the potential challenges of Alzheimer’s in retirement while you, or your loved ones, still can.

The fourth article in a series on planning for retirement, looks at the passive phase of retirement and making sure your retirement funding goes the distance. Our first article looked at pre-retirement planning considerations, the second looked at navigating the transition phase of retirement, and the third explored the active phase.

Providing enough resources for your children while, at the same time, taking care of your own financial future can be a difficult balancing act. And while many parents would like to leave an inheritance, this might not always be feasible, especially during uncertain economic times where finances are stretched.

Retirement is a time that many people may look forward to, envisioning a golden phase of life filled with relaxation, pursuing hobbies, and spending quality time with friends and family. However, wishful thinking about affording retirement can create significant challenges down the line.

Podcast: Maya Fisher-French speaks to Deane Moore, CEO of Just SA about how to use a guaranteed annuity to boost your retirement income, even if you are already in retirement.