Streaming issues? Report here
Africa Melane 2019 1500 BW Africa Melane 2019 1500 BW
Early Breakfast with Africa Melane
04:00 - 06:00
volume_up
volume_mute

Up Next: Breakfast with Refilwe Moloto
See full line-up
Early Breakfast with Africa Melane
04:00 - 06:00
Home
arrow_forward
Business

How to plan for retirement during the Covid-19 crisis

28 May 2020 7:47 PM
Tags:
Lockdown
COVID-19

The Covid-19 pandemic and the economic destruction in its wake has left some of us wondering if we'll ever be able to retire.

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.


This article first appeared on 702 : How to plan for retirement during the Covid-19 crisis


28 May 2020 7:47 PM
Tags:
Lockdown
COVID-19

Recommended

More from Personal Finance with Warren Ingram

edit - equity-market - image from JSE-dot-co-dot-za.jpg

Personal Finance Feature - Equity fund vs index investing

2 July 2020 8:43 PM

Personal financial adviser Warren Ingram says active fund managers in South Africa have had a terrible time.

Share this:
Read More arrow_forward

invest.JPG

Scared that you may lose your life savings?

25 June 2020 8:07 PM

Warren Ingram, wealth creator, answers listeners' questions about safe investing in anxious times.

Share this:
Read More arrow_forward

Contract

No guarantee that your nominated beneficiary will get your money when you die

18 June 2020 7:58 PM

Did you know that the Trustees of retirement funds don’t have to pay it out to your nominated beneficiary?

Share this:
Read More arrow_forward

covid-19 coronavirus economy 123rfbusiness 123rflifestyle 123rf recession

Personal Finance Feature: Timing the market

11 June 2020 7:52 PM

What is the concept of "market timing" and how can it help investors?

Share this:
Read More arrow_forward

Old house abandoned namibia 123rfbusiness 123rflifestyle 123rf

What will become of South Africa's property market and industry after lockdown?

30 April 2020 7:52 PM

Personal finance expert Warren Ingram shares his concerns and offers a few pointers.

Share this:
Read More arrow_forward

piggy-bank-coins-money-budget-savings-personal-finance-123rf

Earn up to 11.5% interest on one of the safest investments around

16 April 2020 7:33 PM

Personal finance guru Warren Ingram on why you should consider this risk-free investment, especially if you live off interest.

Share this:
Read More arrow_forward

Piggy bank mask covid-19 coronavirus 123rfbusiness 123rflifestyle 123rf

'If you still have a job, get rid of your debt as fast as you can'

2 April 2020 8:04 PM

Personal finance expert Warren Ingram has advice on how to survive – or even thrive – amidst the Covid-19 outbreak.

Share this:
Read More arrow_forward

household-bills-debt-expenses-money-finances-black-young-couple-worried-123rf

Struggling to pay a debt? Your options: credit insurance vs debt relief holiday

1 April 2020 6:29 PM

Personal Finance expert Maya Fischer-French on the pros/cons of dipping into credit insurance vs opting for a debt relief holiday.

Share this:
Read More arrow_forward

piggy-bank-coins-money-budget-savings-personal-finance-123rf

Market crashes - what happens to investor money afterwards?

12 March 2020 8:43 PM

Warren Ingram, wealth planner, has sensible advice for investors in gloomy times.

Share this:
Read More arrow_forward

COVID-19 virus coronavirus outbreak blood sample test tube 123rfpolitics 123rf

How to invest and manage your money when the world gets 'flu'

5 March 2020 8:05 PM

Markets are in turmoil in the wake of the coronavirus. How can you ''quarantine" your funds in a safe space?

Share this:
Read More arrow_forward