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
rvZA said:
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.
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this is completely inaccurate.
 
saturnz said:
theres a 77 year old lawyer in my building who still has to come to work, after having two heart operations in the past year as well

and he charges R4000/hour
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He is just greedy. Many people just want more and more and will never be satisfied.
 
Recently had a chat with a financial advisor. He reckons I'll need 65 mil when I retire. And should aim to put 25% of my salary into my RA. And I started saving in my early 20s! FML
 
Bill Clitnon said:
I’m confused because that article is contradicting what you are saying. It even clearly states “The strong outperformance of the S&P 500 began in 2013 and has continued since.” in the 4th paragraph.

Just take any S&P 500 chart vs a JSE all share chart to see the significant difference in performance. The JSE has gained only 54% in the last 10 years while the S&P 500 gained 176%.

That 18% vs 13% might be confusing. Makes it sound like the SA/ZAR market has performed better, but all I read in it is that the Rand lost value over the years, so if you invested in the SA market in Rand terms then you would have been even worse off when compared to USD instruments.
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The article is from 2019

It compares 2009 to 2019.
 
Pegging said:
The article is from 2019

It compares 2009 to 2019.
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I know, but that's beside the point. Let's look what happened since 2019 then: JSE all share gained around 35% in the last 5 years while the S&P500 gained around 88%. So the US market has been vastly outperforming SA for a long time, especially when factoring in Rand depreciation. Hence why I am confused about what he is saying.
 
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Bill Clitnon said:
I know, but that's beside the point. Let's look what happened since 2019 then: JSE all share gained around 35% in the last 5 years while the S&P500 gained around 88%. So the US market has been outperforming SA for a long time.
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Yeah I know what happened. The article was cherry picked to make a point.
It this were 2019, it would be an interesting point.
 
schuits said:
Recently had a chat with a financial advisor. He reckons I'll need 65 mil when I retire. And should aim to put 25% of my salary into my RA. And I started saving in my early 20s! FML
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My question is where did you save? One of these Life Insurers (Liberty, Old Mutual, Momentum and such) with high fees or with an investment company?
 
I told my kids to start contributing to my insurance policy when they start working. It’s the cheapest and most lucrative investment they will make.
Any savings or investments I have I will liquidate and spend till I die.
If I run out before I die I will threaten my kids that I will cancel the policy unless they contribute to my livelihood
 
Where and how did my retirement journey start ?

I bought a house, and started to prepay it (learning how a flexi/access bond can benefit you). I called it investing in myself.

In 2010 debt free, reviewing all my investments, started buying property.

And I have a motto, start something new every year, and with a 10% increase yearly, and leave it for 5 years before reviewing it.

Start committing into things, invest in yourself, and try and save 20% of your salary from day 1!

And lastly, I love liquidity (not having everything locked in)
 
supersunbird said:
My question is where did you save? One of these Life Insurers (Liberty, Old Mutual, Momentum and such) with high fees or with an investment company?
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Ye therein lies the rub, as mentioned in another thread I was with Sanlam.....and they were ripping me a new one. So I've now moved but have a big gap in my savings.
 
**puts down the Pina Colada while on a quick weekend pop to a Greek island while on business in Europe..**

You guys are saving for retirement??
 
saturnz said:
theres a 77 year old lawyer in my building who still has to come to work, after having two heart operations in the past year as well

and he charges R4000/hour
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Hah, met a few doctors like that as well. Endos are regularly in the R4000 per consult lol.

Sadly I don't really foresee me being able to provide everything my kid needs and being able to retire.
 
zerocool2009 said:
Where and how did my retirement journey start ?

I bought a house, and started to prepay it (learning how a flexi/access bond can benefit you). I called it investing in myself.

In 2010 debt free, reviewing all my investments, started buying property.

And I have a motto, start something new every year, and with a 10% increase yearly, and leave it for 5 years before reviewing it.

Start committing into things, invest in yourself, and try and save 20% of your salary from day 1!

And lastly, I love liquidity (not having everything locked in)
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Fsck this, I'm just going to take out a life policy on my dad.
 
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