Retirement...fact or fallacy?

It’s crazy how our retirement age of 65 is laid down for us.

It's an outdated concept which dictates to us when we should give up working and be put out to pasture.

Over the past century we have improved our life span dramatically, making 65 year olds feel a lot younger age than they used to.

The Queen of England celebrates her 90 birthday this year, the wartime sweet heart singer Vera Lynn turns 99 and Nelson Mandela lived to 95. At 92, Harriet Thompson became the oldest woman to finish a marathon.

Think of how many more people you know and hear about that are 90 plus. They say that the first person to reach age 150 is already born!

All this points to the fact that we are living longer and need to take a reality check on our concept of retirement.

Over the past decades technologies in the medical field and awareness of health issues have boosted our longevity. Yet we still have the mentality of retiring at age 65. Why? Because your pension fund says so?

90% of South Africans at age 65 do not have enough savings to see them through retirement. The reality is that they will need to continue to work for as long as possible. This places huge importance on staying healthy to keep on earning an income, and in turn leaving your investment nest alone for longer.

Working longer has many benefits.

You have longer to save, allowing your investments more time to compound their way to a much bigger amount.

Most importantly, you will have a sense of purpose and fulfillment. A reason to get out of bed in the morning. Work tends to define us, so you will have the opportunity to redefine yourself and do something that you really enjoy that’s generates an income.

So 65 as a retirement age is a fallacy. Don’t let an outdated concept rob you convince you that you are over the hill.

If you didn’t know when you were born, “ How old would you be?”

Listen to the audio below for more information...

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
"Maybe it's time WC took over the transporting of tourists to Robben Island"

"Maybe it's time WC took over the transporting of tourists to Robben Island"

The DA's Beverley Schafer says the ferrying of tourists to Robben Island has to run properly without risking any lives.

Clarity provided for what sparked Hout Bay violent protest

Clarity provided for what sparked Hout Bay violent protest

Department of Agriculture, Forestry and Fisheries says these protests seems to be more about service delivery than fishing quotas.

Distraught family member recounts how Ocean View boy (9) shot in gang crossfire

Distraught family member recounts how Ocean View boy (9) shot in gang crossfire

Little Aqeel Davids’s distraught aunt Misqah Davids relived the tragic event which left her nine-year-old nephew dead.

People find their courage closer to the ANC elective conference- Siya Khumalo

People find their courage closer to the ANC elective conference- Siya Khumalo

Siya Khumalo, author, social and political commentator chats with Africa Melane about Cyril Ramaphosa and Nkosazana Dlamini-Zuma.

Being a man and depressed is nothing to feel shameful about

Being a man and depressed is nothing to feel shameful about

Founder of the Men’s Foundation says men should find themselves safe spaces to open up about their mental health issues.

Paraplegic man surfs Cape waves, starts inspiring project to get others on board

Paraplegic man surfs Cape waves, starts inspiring project to get others on board

David Nhlapo was left wheelchair-bound after he jumped in front of a bullet to save his pregnant partner and their unborn child.

Popular articles
Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?