When did you start saving for your retirement?

When did you start saving for your retirement?

  • In my 20s

    Votes: 134 49.3%

  • In my 30s

    Votes: 60 22.1%

  • In my 40s

    Votes: 20 7.4%

  • In my 50s

    Votes: 4 1.5%

  • In my 60s

    Votes: 1 0.4%

  • I have not started saving for my retirement

    Votes: 40 14.7%

  • Other

    Votes: 13 4.8%
  • Total voters
    272
saturnz said:
reality is not dictated by what laymen call things

there is no obligation on me to change how laymen think

you know very little about what I did. If you know what I did or am doing, please feel free to provide the evidence to substantiate your claim, otherwise its not knowledge, but simple conjecture on your part

and who is this "we all"

you speaking on behalf of who exactly?
Click to expand...

We all is everyone around here + reality. If you didn't invest/save to generate a passive income that is enough for you to retire on, you are not homeless, you are not being sponsored by some then you didn't really retire and you are working in some manner. You are welcome to explain if there is a fifth option.
 
A very rich friend (worth R150m) has his kids hovering about dropping hints about sharing part of his wealth. Two of his daughters are useless oxygen thieves and try and sponge off him

He has already bought them cars. The one sold the car the week after he gave it to her, so now he has the car registered with his trust so she cannot do this again

Her latest scam is to forge a medical bill to get R80k out of him
 
chrisc said:
A very rich friend (worth R150m) has his kids hovering about dropping hints about sharing part of his wealth. Two of his daughters are useless oxygen thieves and try and sponge off him

He has already bought them cars. The one sold the car the week after he gave it to her, so now he has the car registered with his trust so she cannot do this again
Click to expand...

This is on the parents. especially oxygen thieves. wealth is relative. you can have some middle class/working class kids being oxygen thieves too wanting the latest pair of nikes
 
On a serious note I see ~12% of people polled here did not save for retirement.

If you cannot or do no want to Save toward retirement, you need to start to learn from now how to loot and steal properly Comrades.
 
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Aghori said:
On a serious note I see ~12% of people polled here did not save for retirement.

If you cannot or do no want to Save toward retirement, you need to start to learn from now how to loot and steal properly Comrades.
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Most of SA cant afford to live day by day, saving is super low on their "able to do list" ... so 12% isnt bad
 
supersunbird said:
We all is everyone around here + reality. If you didn't invest/save to generate a passive income that is enough for you to retire on, you are not homeless, you are not being sponsored by some then you didn't really retire and you are working in some manner. You are welcome to explain if there is a fifth option.
Click to expand...

how is buying a car investment or saving?

this is how the issue arose if thats how you define "everyone"

I have already given you a fifth option, you dismissed it as being pedantic
 
rvZA said:
The biggest favour you can do for the new generation is to leave them with absolutely nothing. Even our older generation, the majority of us used to get nothing with the exception for R10k here, a house being sold and profits split between 5 family members, etc.
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That's your experience coming from a lower income background probably.
rvZA said:
The new generation should learn that people inheriting millions was a myth. Very, very few people in this country were that lucky in the past. Most wealth in this country was generated by honest, hard-working people who started up businesses with no money, or helped other businesses to grow, create jobs and grow the economy. Easy as that.
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Not sure how this is that relevant to should save for retirement. Yes, majority of people do not inherit millions, especially when a majority of South Africans don't even have a million rand in wealth.
rvZA said:
In the US, if you started contributing towards your 401K after leaving school, you could retire comfortably in your early 40's. Most people I knew living there also did so. But, times have changed. The world is under siege. Capitalism is being eradicated globally. What awaits the new generation is terrible.
Click to expand...
That's definitely wrong:
1718437174578.png

The average 401(k) balance by age

See average and median 401(k) balances by age using 2025 Empower data, plus 2025 contribution and catch-up limits and a savings growth illustration.
www.empower.com www.empower.com
40s is where you start maxing contributions usually, that's why you see that jump to 50's (and US allows catch-up payments in one's 50s), and you'll see that most South Africans do the same in their RA contributions.

$150k in your 40s as median, and you're going to have people living in e.g. California, that's not going to get you far.
 
saturnz said:
how is buying a car investment or saving?

this is how the issue arose if thats how you define "everyone"

I have already given you a fifth option, you dismissed it as being pedantic
Click to expand...

I wasn't the one who talked about the car, you need to take that up with that poster.

I do recall you have some investment property's (maybe even some rental parking spaces if I recall correctly) and that is thus your retirement savings if that is right. I didn't see the fifth path mentioned here, I will read through the thread again.
 
supersunbird said:
I wasn't the one who talked about the car, you need to take that up with that poster.

I do recall you have some investment property's (maybe even some rental parking spaces if I recall correctly) and that is thus your retirement savings if that is right. I didn't see the fifth path mentioned here, I will read through the thread again.
Click to expand...

but you are speaking on behalf of everybody here...

maybe review the thread and see how the issue arose instead of being all over the place
 
chrisc said:
A very rich friend (worth R150m) has his kids hovering about dropping hints about sharing part of his wealth. Two of his daughters are useless oxygen thieves and try and sponge off him

He has already bought them cars. The one sold the car the week after he gave it to her, so now he has the car registered with his trust so she cannot do this again

Her latest scam is to forge a medical bill to get R80k out of him
Click to expand...

One suggestion for rich parents is set up a trust that matches what the person earns via a career. So even if the kids works at a McDonalds, it will match what they are earning so they will have double the amount. Some even set up that certain jobs (being a teacher or police person or fire fighter or similar) mean the income is matched 200% by the trust.
 
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supersunbird said:
One suggestion for rich parents is set up a trust that matches what the person earns via a career. So even if the kids works at a McDonalds, it will match what they are earning so they will have double the amount. Some even set up that certain jobs (being a teacher or police person or fire fighter or similar) mean the income is matched 200% by the trust.
Click to expand...

Trust me, you do not want to be an Educator in any public school nowadays here.
 
supersunbird said:
That is correct, I am very happy I didn't follow that career path opportunity.
Click to expand...

I did so for a few years. It was exciting for the first few months, then it went downhill real quick once the enthusiasm wore off.

Then I realised that parents don't give a flying fk about their kids education, the Dept of Edu wants to naaai you every chance if you not in SADTU, learners that swear at you for asking them to pay attention when you are teaching, Educators having no authority to discipline, the dismal R17k salary after tax, shitty GEMS medical,, the workload that took away my weekends...etc
 
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