When did you start saving for your retirement?

[DrJohnZoidberg]

I made the mistake of only starting my 30's. If you are still in your 20's and you haven't started saving for retirement, do so now! Future you will thank you.

Same, but I was broke as fook in my 20s.

 

[backstreetboy]

thats not savings

Still an investment.

 

[saturnz]

Still an investment.

savings is not investment

and buying a car from someone else is a transfer of ownership, not investment, and so is selling the car

keep trying

 

[Solitude]

Same, but I was broke as fook in my 20s.

Same. Oh well. It's the way things go.

 

[backstreetboy]

savings is not investment

and buying a car from someone else is a transfer of ownership, not investment, and so is selling the car

keep trying

So you never sold it for 3 times it's actually worth?

 

[saturnz]

So you never sold it for 3 times it's actually worth?

this deflection has nothing to do with savings or investment

but keep trying

 

[Nuke]

Never started, never will.

The whole pension/retirement is a lie that started after WW2.

Maybe it could have worked if we had a gold backed monetary system, but that ship sailed in 1933 when they did the first revaluation of gold.

I fully believe you should have investments and businesses. But I don't care about any of the official retirement options.

 

[bwana]

Many (many, many) moons ago, when I first started working, the UK government decided to start helping itself to some of my paycheque.

 

[chrisc]

Bought some houses and flats in my 30s and 40s. The values are between 15 and 20 times what I paid, plus have had rental income

Paid cash for all, no mortgage bond. Big saving there

 

[HartsockZA]

According to the 10X Investments Retirement Reality Report, most South Africans have still not formally planned for retirement.

Furthermore, franchise principal and financial adviser Marnus Mostert recently outlined how much easier it is to save for retirement if you begin early. Read more here.

With this in mind, have you started saving for retirement, and if so, when did you begin?

Built my own company and grew it like a champ. Stuff RA's they are all a lie

 

[Foxhound5366]

If you started saving up in the 1970's you can retire today. But, with current inflation and collapsing of the economy, you are bound to run out of savings in the next decade or so and at the age of 80 or 90 you will need to find employment to sustain yourself.

For those who started saving after 2000, you are in serious trouble. You will never retire. Every cent paid to your retirement fund will just decline in future.

Imagine going onto LinkedIn in your 90s to find a job rofl

 

[SauRoNZA]

From my very first pay cheque at age 19/20.

 

[Foxhound5366]

I never saved a single cent for my retirement

and I'm retired for over ten years now

I just have one question: does the dog food with the chunks or without the chunks taste better?

 

[Sensorei]

If you started saving up in the 1970's you can retire today.

Retiring when you're already on death's doorstep. W̶i̶n̶n̶i̶n̶g̶!̶

 

[ld13]

Other option: Started too late

 

[Rumple4skin]

Having every thing you own in Rands is not the best idea either even though SA markets are doing better than most others.

???

 

[LazyLion]

Fortunately for me, my Dad actually started an investment account for me and my brother when we were born... so kudos to him.
He instilled a good investment mindset in us.... and found and used good brokers to make the best decisions for us.
So by the time he passed on, we already had a good portfolio to carry on with.
He literally came from nothing (a destitute family of 7 with no father) and started with nothing... put himself through UNISA... to support his mom. He is my hero still to this day.

 

[Scary_Turtle]

???

In terms of investments yes, most markets are flat and SA markets give a better return in general atleast over the last year.

 

[Rumple4skin]

In terms of investments yes, most markets are flat and SA markets give a better return in general atleast over the last year.

The Best Country ETFs (1 Year)

Top country ETFs over 1 Year period at a glance. Best performer are currently ETFs on South Korea, Taiwan, Austria.

www.justetf.com

We are ranked 22nd for 1-year and 25th for 3-year performance out of 31 countries. Majority of markets are beating us. US market up 49% in 3 years while we are actually in the red by 6%.

 

[Jules7]

From my very first 'appy' paycheck, aged 18. Was R158 in 1980.