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.

(Click here for more personal finance articles.)

Subscribe to our Business Wrap Newsletter


Recommended

by THE NEWSROOM

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
Danny K answers decidedly personal questions about his money

Danny K answers decidedly personal questions about his money

The Money Show’s Bruce Whitfield interviews K about his attitude to money (hopes and fears, successes and failures, etc.)

Tony Robbins on how to make money when others panic

Tony Robbins on how to make money when others panic

Feroz Basa (Old Mutual Investment Group) reviews “Unshakeable: Your Financial Freedom Playbook” by Tony Robbins.

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.

How to protect your wealth when the JSE is falling

How to protect your wealth when the JSE is falling

How to protect your wealth should the JSE start to weaken...

4 beliefs about shares that keep you from growing wealthy

4 beliefs about shares that keep you from growing wealthy

4 popular, yet patently false, beliefs about stock market investing that's holding you back.

Popular articles
Dr Viwe Mtwesi is South Africa's youngest black female cardiologist

Dr Viwe Mtwesi is South Africa's youngest black female cardiologist

Dr Viwe Mtwesi spoke to Relebogile Mabotja about her achievements and commitment to serving people through her work.

Sygnia offers Gupta whistle-blower Bianca Goodson a job

Sygnia offers Gupta whistle-blower Bianca Goodson a job

The Money Show’s Bruce Whitfield interviews Sygnia Asset Management CEO Magda Wierzycka.

Soulful Sundays Playlist: Sunday 11 June 2017

Soulful Sundays Playlist: Sunday 11 June 2017

Favourites to feed your soul on Sunday.

How Free State's Ace Magashule's family linked to Gupta companies #GuptaLeaks

How Free State's Ace Magashule's family linked to Gupta companies #GuptaLeaks

Revelations published today show how the premier's sons and Free State govt appear heavily involved in the Gupta-owned companies.

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?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.