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Make your retirement savings last longer
Over the last five years, the average balanced unit trust – which is where most retirement money in South Africa is invested – delivered about 4% per year.
Over the last five years, listed property lost about 13% per year.
Most of those losses occurred in the last 18 months.
Know this: the next five years will almost certainly not look like the past five years, says personal finance advisor Warren Ingram (Galileo Capital) in an interview with The Money Show’s Bruce Whitfield.
Related articles:
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Renting vs buying property pros and cons, and how to move from renting to buying
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You may have to cash in your retirement savings – but read this first
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How to secure your retirement - Bruce Cameron (retired editor, Personal Finance)
What to do, and what not to do
Don’t move to cash. It has such a horrible return at the moment. You’re lucky to get 3% to 5%… It’ll prove to be a very poor decision…
Warren Ingram, Personal Financial Advisor - Galileo Capital
Markets move in cycles… Don’t jump out of your balanced fund… That’s how you get exposure to shares… You can only get the recovery if you stay invested…
Warren Ingram, Personal Financial Advisor - Galileo Capital
You have to spread your investments across all asset classes (cash, bonds, property, shares), says Ingram.
Look at trimming your position in listed property…
Warren Ingram, Personal Financial Advisor - Galileo Capital
How much to withdraw from your pension fund, at most
Don’t increase the amount of money you draw from your retirement fund by too much, warns Ingram.
At most, withdraw 5% to 7%... If you withdraw 8% or 9%, you’re sure to deplete your capital…
Warren Ingram, Personal Financial Advisor - Galileo Capital
It [5%] is the maximum amount you can withdraw safely so that the capital can still grow and beat inflation while providing you with an income…
Warren Ingram, Personal Financial Advisor - Galileo Capital
For more detail, listen to the interview in the audio below.
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Highlights