Streaming issues? Report here
money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 19:00
volume_up
volume_mute

Up Next: SportsTalk with Buhle Madulini
See full line-up
The Money Show with Bruce Whitfield
18:00 - 19:00
Home
arrow_forward
Lifestyle

Ditch the idea that you must retire at 65, says financial guru Paul Roelofse

6 October 2019 10:52 AM
Tags:
Retirement
Paul Roelofse
old age
saving
financial planner
Certified financial planner Paul Roelofse says the concept of retirement age needs to be redefined.

Less than 10% of South Africans have enough money to retire when they hit 65 years of age.

Certified financial planner Paul Roelofse says the idea that 65 must be the official retirement age is outdated.

Although he still advises all adults to save money, Roelofse says saving should be aimed at financial independence, and not necessarily for retirement.

He believes that all people should be allowed to continue working past 65 if they are fit and able to do so.

I'm thinking away from conventional wisdom, to say why don't we look at the real side of retirement and don't retire... Carry on working for as long as your health commits you too.

Paul Roelofse, Certified Financial Planner

Let's take away the idea of saving for retirement and make it saving for financial independence.

Paul Roelofse, Certified Financial Planner

Roelofse says many South African pensioners become financially dependent on their family and offspring for support.

Others look to the state for relief in the form of a social grant, which Roelofse says is not enough to survive on.

There are many more options that are a lot more real and take away that the time has placed upon us.

Paul Roelofse, Certified Financial Planner

Listen to the discussion on Weekend Breakfast with Refiloe Mpakanyane:


This article first appeared on 702 : Ditch the idea that you must retire at 65, says financial guru Paul Roelofse


6 October 2019 10:52 AM
Tags:
Retirement
Paul Roelofse
old age
saving
financial planner

More from Lifestyle

BOOKS pexels-photo-264635jpeg

John Maytham's Weekly Book Review: 18 October 2019

18 October 2019 5:06 PM

Book-a-holic and CapeTalk host John Maytham shares his top book picks for the week.

Share this:
Read More arrow_forward

Divorce

Considering divorce? How to avoid getting poorer in the process

17 October 2019 2:43 PM

Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.

Share this:
Read More arrow_forward

basetsana-kumalojpg

'We discuss stocks and options with our children at the dinner table'

17 October 2019 1:51 PM

Bruce Whitfield interviews Basetsana Kumalo about her attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward

bsnvjpg

Hit dating reality show to feature first gay farmer on Thursday

17 October 2019 10:20 AM

'Boer Soek 'n Vrou' producer Roelof Storm explains why it took twelve seasons to feature a farmer looking for a same-sex soulmate.

Share this:
Read More arrow_forward

yves-saint-laurent-condomjpg

Yves Saint Laurent starts selling designer condoms for R95 a pop

16 October 2019 2:51 PM

Some things in life just don’t need a “designer” counterpart, reckons branding and advertising expert Andy Rice.

Share this:
Read More arrow_forward

man-plays-message-from-gravepng

[WATCH] Irish prankster sends a message to his mates from the grave

16 October 2019 10:30 AM

Shay Bradley's dying wish was to play a recorded message from his grave and his daughter Andrea obliged.

Share this:
Read More arrow_forward

islandjpeg

How to save and buy an island (you need only R2000 per month)

15 October 2019 3:36 PM

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

Share this:
Read More arrow_forward

Parenting.jpg

The warning signs of parental alienation

15 October 2019 3:29 PM

Parental alienation is now officially recognised by the World Health Organisation as a ‘caregiver-child relationship problem.’

Share this:
Read More arrow_forward

stethoscope-doctor-medical-healthjpg

Cardiologist warns of conditions and diseases linked to obesity

15 October 2019 12:04 PM

The heart doctor explains how obesity can negatively impact on people's health.

Share this:
Read More arrow_forward

black-man-identity-cellphone-fitnessjpg

3 tips to avoid viruses on your phone

15 October 2019 7:30 AM

Beware of downloading little-known free apps as they may harbour viruses and malware says tech expert Alistair Fairweather.

Share this:
Read More arrow_forward