MyMoney Online, Business Wrap

5 things you must do now if you plan on retiring in roughly 10 years

(Click here for more personal finance articles.)

The Money Show's Bruce Whitfield interviewed Warren Ingram, Financial Advisor at Galileo Capital, who has these tips for anyone wishing to retire a decade or so from now:

  1. Check that you are saving enough. You will need between 12 and 20 times your annual salary to retire safely at age 65. Do you have enough?

  2. Consider retiring at different times, if you are married.

  3. Make sure you have enough money invested in shares (Read “4 beliefs about shares that keep you from growing wealthy”).

  4. Accelerate your monthly repayments - check your home loan.

  5. Don't ignore your career. If you have 10 years to go, you need to keep yourself current and valuable to your company and colleagues. Don’t become a dinosaur.

Also read the following related articles:

How much you should save for retirement

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

How to protect your wealth when the JSE is falling

4 beliefs about shares that keep you from growing wealthy

Listen to the audio for more detail.

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