5 retirement saving tips for those who left it late
It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.
If you’re in your 30s, 40s or 50s – and you don’t have much or any investments – there’s still lots you can do to ensure a comfortable retirement.
(Note: Marais is with Momentum Metropolitan Life Limited. When the interview took place, she was with Allan Gray.)
How to save for retirement when you’ve left it late (in the tiniest of nutshells):
The biggest problem is when people leave jobs without preserving their retirement savings.Jeanette Marais
If you start at 40 you must save 40% of your income to make up for the lost time.Jeanette Marais
Delaying retirement by five years will make a huge difference.Jeanette Marais
Do not be too conservative! You must have equity exposure.Jeanette Marais
Merely putting your money in the bank guarantees the loss of buying power.Jeanette Marais
For more detail, listen to the interview in the audio below.
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