I think that's your biggest issue - buying cash?!
You'd probably need a bit of financial counselling
Unfortunately, at the age of 60+, when you go on pension, you need to have access to that cash and a boat load of it too, for a large number of reasons, one of which is that banks are likely not going to grant you any type of long-term finance or loan or bond.
Your cars you bought at R200k 5 years ago will no longer be R200k in future, at least not in SA. So, if you do not want to downgrade to a pauper lifestyle and want to replace your vehicle in the next 30-40 years, you will need to have the cash to spend on whatever price they are asking for it.
If your children are living abroad and you need R50k to spend on a trip to visit them, you will likely need to have the cash for that too. Especially if there are more than one child living in different countries, unless of course if you want to downgrade to a pauper and decide not to see them unless they come here.
Or you could be like my previous neighbour. Bought his house 30 years ago, he retired. Insurance did not value his cover correct and he had a fire a year ago. Even though the house was covered at R1.5m the insurance money was not enough to rebuild the house at today's costs in SA (even though the market value of the house is correct, the building costs ensured that he could not even rebuild 60% of the house last year) and he did not have enough cash to cover the rest. He had to use the money to buy a smaller place and move eventually. Many people do not even realize this, with increasing costs and inflation, your R1m house may cost you probably around R2.5m to be rebuilt today if something happens. You need to cover this in your insurance, at least every 6 months as inflation keeps killing us.
Life is all about choices....
