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How to make your retirement savings last as long as possible

1 October 2021 11:19 AM
Tags:
Warren Ingram
The Money Show
Retirement
Bruce Whitfield
Personal finance
Galileo Capital
investing

The Money Show’s Bruce Whitfield interviews Warren Ingram, a personal finance advisor at Galileo Capital.

Seventy-five is the new 60 when it comes to retirement, said The Money Show's Bruce Whitfield rather pessimistically.

Making retirement savings last is an exercise in psychology and fear management, suggested personal finance advisor Warren Ingram (scroll up to listen).

Retirees, in the first two or three years, might need financial advice, but they probably need a psychologist equally.

Warren Ingram, Personal Financial Advisor - Galileo Capital
© deagreez/123rf.com

RELATED: 5 retirement saving tips for those who left it late


With life expectancies increasing, some people will be retired for as long as they’ve worked, warns Ingram.

In other words, you can’t stop being a long-term investor upon retirement.

Taking no stock market risk… and putting all your money in cash to avoid risk is just not a sensible idea… The biggest enemy to a good retirement is… inflation, a slow poison…

Warren Ingram, Personal Financial Advisor - Galileo Capital

One good proxy to use to determine a realistic post-retirement inflation rate is the cost of medical aid and how it rises over time, probably about 8% to 9% per year…

Warren Ingram, Personal Financial Advisor - Galileo Capital

RELATED: How much you need to retire: Stellenbosch University devises a new formula


The best protection against inflation will always be productive assets such as shares in companies listed on the stock exchange, and property companies listed on the stock exchange.

They [shares] come with a rollercoaster ride… But it doesn’t change the fact that it’s where you need to be…

Warren Ingram, Personal Financial Advisor - Galileo Capital

RELATED: Retirement annuities – here’s what happens if your fund manager goes bankrupt


Ingram suggests having at least half, but even as much as 75% of your investments in shares and listed property.

The balance you can conservatively put in cash and government bonds.

Warren Ingram, Personal Financial Advisor - Galileo Capital

Be prepared for the rollercoaster… and pay someone for advice for an hour or two…

Warren Ingram, Personal Financial Advisor - Galileo Capital

RELATED: 'Your financial advisor probably earns a commission. That’s a huge problem'





1 October 2021 11:19 AM
Tags:
Warren Ingram
The Money Show
Retirement
Bruce Whitfield
Personal finance
Galileo Capital
investing

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