How much is enough for retirement?

rvZA said:
In South Africa, at least R35m in a savings account so you can live off the interest. Over and above what you have in fixed investments for the day you run out of money and start using your actual savings. Unfortunately, if you can survive on less, you will live a meagre life counting and turning your Rands and Cents with not a lot to look forward to.
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Sure, so you'd invest in a balanced fund, not savings.

And using the 4% rule, if you want R116 000 a month then R35 million is what you want.
 
rvZA said:
Because, at best, today, after taxes, you should earn around R140k in interest every month. This will be more than enough for a comfortable lifestyle. Perhaps even a trip this month to visit your grandchildren in the US this month, and those in the UK next month and those in Australia the month thereafter. At least, this amount will allow you to travel and visit without the need of worrying about a collapsing Rand. Should also leave you in a comfortable position to save up more money for this massive increasing living costs, inflation the whole world is facing - in addition to leaving you with the option of emigrating and settling abroad in 15 years from now, should you ever decide to do so.

Without this amount, your options gets limited tremendously.
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A savings account? You sure you want to keep R
Pegasus said:
Sure, so you'd invest in a balanced fund, not savings.

And using the 4% rule, if you want R116 000 a month then R35 million is what you want.
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this is exactly what I was questining.
A savings account. That’s just dumb
 
A kid with a house, then I can go stay with him and he must look after me the same way I looked after him.
 
MaisonP said:
A savings account? You sure you want to keep R

this is exactly what I was questining.
A savings account. That’s just dumb
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You want access to your funds without the need of giving 30 days, 60 days or 90 days notice. Simply because if you plan something tomorrow which will cost you R2m, you can do it. This is the reason why I said R34m is not enough. You still need a similar amount tied into investments and markets that would fill the gap you are about to experience in 10 years after retirement.
 
Pegasus said:
Sure, so you'd invest in a balanced fund, not savings.

And using the 4% rule, if you want R116 000 a month then R35 million is what you want.
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Not really what I referred to, but this is the portion you currently do not want to have invested. Instead living off interest. Perhaps a similar invested additional fund may ensure you live a comfortable retirement and also leave something worthy to your children. If you ONLY have R34m to retire on, you may run into a bit of problems if you do not die fast enough.
 
rvZA said:
You want access to your funds without the need of giving 30 days, 60 days or 90 days notice. Simply because if you plan something tomorrow which will cost you R2m, you can do it. This is the reason why I said R34m is not enough. You still need a similar amount tied into investments and markets that would fill the gap you are about to experience in 10 years after retirement.
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So you don’t think it’s best to keep R2M in a savings account and the rest in a high interest bearing account? Doesn’t that make more sense?
 
rvZA said:
Dude, good luck with your R5m, R7m or even R10m pension fund! When the times come, hope you do not have to lower your living standards, count your cents before you need to buy something, or perhaps even worse... running out of it before you die.
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Dude, stop talking nonsense.

Your post showed you are clueless.
 
rvZA said:
If you plan carefully, you can actually start living when you go on pension. A lot of countries to see. A lot of world tours you can take. Friends and family you could visit.
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you want to travel when you are old? ....eeeuww

as for friends and family, thats another LOL
 
BuckRogers said:
Its just ill informed.
Quite simply - you need a mixture of income producing and growth assets.
The ratio depends on your risk appetite and age.
For most ordinary folk a balanced fund from one of the CIA asset managers will do fine.
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Yeah, that is pretty much why these funds exist.
 
rvZA said:
With current world events, looming food shortages, collapsing economies, war, world order changes, all previous investing, savings, economic rules are out the window. People are in for a rude awakening. None of this is temporary. None of it is transitory. These events, inflation, increasing living costs will outlive anyone alive today.
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You may be right. We might be in for a couple nasty surprises and some may be permanent. If the general caliber of man I encounter these days is anything to go by, it's going to be a soy boy slaughter. I'm not into the doomsaying though. In that case your R35m is not going to do it. You're in guns, water and pumpkin seed territory.
 
Maurice Kitching said:
You may be right. We might be in for a couple nasty surprises and some may be permanent. If the general caliber of man I encounter these days is anything to go by, it's going to be a soy boy slaughter. I'm not into the doomsaying though. In that case your R35m is not going to do it. You're in guns, water and pumpkin seed territory.
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Oh dear, another doomsday conspiracy theorist adds their pearls of wisdom...

Most probably an Eks clone though :)
 
Splinter said:
Oh dear, another doomsday conspiracy theorist adds their pearls of wisdom...

Most probably an Eks clone though :)
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Also 2 okes with no chance of ever accumulatingthat sort of money from work.

Anyway, If they had 35 million, they'd be living in the Bahamas.
 
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