How to plan for retirement during the Covid-19 crisis
The SA economy is in so much trouble, the vast majority of us fear we are going to be dragged to the bottom.
We're talking about planning for retirement in a crisis when all of us are feeling gloomy.
Warren Ingram, financial adviser, has some practical advice.
I think it's one of those decades where the whole of the financial structure of people's saving, the way they spend, borrow money for property, all changes and turns on its head and I think the longer lockdown carries on, the longer it takes for us to get on the road again.Warren Ingram, financial adviser, wealth planner
I think the first step to take is investors are going to need to increase the allocation to shares over the next while - I'm not saying listen to the show and load up your share allocation tomorrow but I think temptation to avoid risk by being in cash in these times will be real.Warren Ingram, wealth planner
The problem I think by the end of this year getting a five per cent return on a money market account will be a brilliant return and the likelihood is it is going to be less than that...getting four of five per cent for your money is not going to help you get out of the hole.Warren Ingram, wealth planner
Don't do it one shot - take three to six months to do it - the pandemic that caused the crisis will take a long time to play out but I think the pressure on investors to find returns means that the stock market and potentially the property market is going to benefit from lower interest rates.Warren Ingram, financial adviser, wealth planner
Listen to the interview below.
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.
An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.Read More
Bruce Whitfield asks personal finance advisor Warren Ingram to explain in detail the new laws affecting provident funds.Read More
You can buy R1 (or even one cent) worth of shares. "The key to getting started is to get started," says Charles Savage.Read More
Need new wheels? WesBank’s Lebogang Goaaketse discusses a popular method for making repayments more affordable.Read More
Personal finance advisor Warren Ingram on ensuring you don’t run out of money before you run out of life.Read More
There's also a magic number beyond which more money doesn't equate to more happiness, says personal finance guru Warren Ingram.Read More
Low interest rates and plenty of deals on offer - personal finance guru Warren Ingram points out the pitfalls on The Money Show.Read More
Warren Ingram explores the options, focusing on case study of guest house owner whose investments equal outstanding bond amount.Read More
Bruce Whitfield and personal finance expert Warren Ingram get to grips with why perhaps you shouldn't, if you didn't...Read More
On The Money Show, finance expert Warren Ingram explains why he believes the pros of the regulation outweigh the cons.Read More