MyMoney Online, Make Money Mondays

Why you must see an advisor 5 years prior to retirement (and 5 years thereafter)

(Click here for more personal finance articles.)

How much of your pension should you “draw down”?

Guaranteed or living annuity?

You need to box clever in the years before and after retirement.

The Money Show's Bruce Whitfield interviewed independent financial advisor Peter Calitz for his weekly “Make Money Mondays” feature.

Calitz discussed the vital five years prior to retirement and the equally important five years after.

Scroll down for quotes from the audio below.

I’m not a fan of guaranteed annuities at all.

Peter Calitz, independent financial advisor

If you’re drawing only 5% you’ll be fine.

Peter Calitz, independent financial advisor

You have to save 17% of your salary from the age of 25 if you want to retire at 65 and draw 4% of your capital each year.

Peter Calitz, independent financial advisor

Don’t be too conservative!

Peter Calitz, independent financial advisor

The default options are too conservative

Peter Calitz, independent financial advisor

Subscribe to our Business Wrap Newsletter

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to successfully pass a business from one generation to the next

How to successfully pass a business from one generation to the next

Succession in a family business often fails. Aurik Business Accelerator’s Pavlo Phitidis on how to make it work…

The value of scrounging (or going into debt) to afford private school

The value of scrounging (or going into debt) to afford private school

The Money Show’s Bruce Whitfield interviews Veritas Wealth Certified Financial Planner Barry O'Mahony.

What happens to your Retirement Annuity if your fund manager goes bust?

What happens to your Retirement Annuity if your fund manager goes bust?

Fund managers do from time to time go bankrupt. Here’s what’ll happen to your Retirement Annuity if yours does…

10 reasons why this is BY FAR the best way to save for retirement

10 reasons why this is BY FAR the best way to save for retirement

Is there a single best way to build your wealth so you can retire with dignity? Yes, there is, despite costs and limitations.

How much you should save for retirement

How much you should save for retirement

You know you should save for retirement, but do you know how much? Financial planner Claude Hannah breaks it down in simple terms.

Why you need a pension fund (or retirement annuity) even if you own a house

Why you need a pension fund (or retirement annuity) even if you own a house

Many people falsely believe they do not have to save for retirement because they own the home they live in.

Popular articles
Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

Opinion: Laying equal blame on parents in Spur spat is wrong says Eusebius

He believes it's a moral cop-out to say the only thing going on in the video is two adults behaving badly in front of the kids.

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

[LISTEN] Eldorado Park activist's eyewitness account of fatal mob attack

Community Activist Dereleen James says there has been a surge of drug related crimes in the area, leading to a series of deaths.

Is Uber dying? Stuff’s editor explains…

Is Uber dying? Stuff’s editor explains…

High ranking employees are resigning en masse as crisis upon crisis pummel lossmaking Uber.

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO: Man's pic will be up at restaurants and he is not welcome

Spur CEO says staff aren't equipped for this kind of customer confrontation and he will consider reviewing their training manual.

WATCH: Spur bans man after heated spat caught on camera

WATCH: Spur bans man after heated spat caught on camera

A man has been banned from Spur after threatening a woman during a heated argument which was captured on video and has gone viral.

Spur tightens its belt as 'two for the price of one' Monday burger special ends

Spur tightens its belt as 'two for the price of one' Monday burger special ends

The CEO of Spur says food inflation has played a big role in making this difficult decision.

3 JSE shares you should invest right now (by Momentum)

3 JSE shares you should invest right now (by Momentum)

Looking for a hot tip, or three? Here’s what Momentum Head of Investments and Savings Steven Schultz is buying...

He was a loving family man - Joe Mafela’s niece

He was a loving family man - Joe Mafela’s niece

Legendary actor, Joe Mafela popularly known as Sdumo passed away on Saturday following a car accident.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…