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Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

(Click here for more articles on retirement and personal finance.)

Ray White interviewed Erhard Theunissen, Corporate Consultant at Old Mutual Corporate Consultants, on The Money Show.

Theunissen discussed five reasons to use you your retirement fund to boost retirement savings:

  • It’s very tax efficient.

  • The growth on retirement investments is tax free.

  • It’s cost effective.

  • There’s no estate duty on retirement investments.

  • Retirement fund savings can’t be touched by creditors.

Scroll down for quotes from the audio below.

If you earn R10 000 you can contribute R2750 and only get taxed on R7250.

Erhard Theunissen

There are no hidden costs in retirement funds.

Erhard Theunissen

Your creditors can’t touch your retirement fund savings.

Erhard Theunissen

You’ll never retire comfortably if you’re too conservative.

Erhard Theunissen

You should save at least 15% of your salary every month for 40 years.

Erhard Theunissen

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This article first appeared on 702 : Want to be rich in retirement? Why it's a no-brainer to use a retirement fund


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