It is crucial to start saving towards your retirement as early as possible.
“While many of us look forward to the day we are able to retire, retirement is not always as easy as we imagine it to be,” says Fedgroup Life chief executive Walter van der Merwe.
“When you retire, you often suffer a loss or reduction of income but daily expenses remain and grow with yearly inflation and economic turmoil,” he says.
Van der Merwe says it is never too early to start making provision for retirement. To maintain your standard of living, a proper retirement plan will help to ensure sufficient income once permanent employment is no longer an option.