So how much is enough - to retire?
The Internet is full of ways to prepare for retirement.
Save as much money as possible during your working life. Invest in retirement annuities.
Buy houses. Second hand cars. Pay cash for everything. Don't get heavily into debt.
And so on and so on.
All very sensible, but extremely difficult. We want to enjoy our lives while we're young, don't we?
To say nothing of the expenses involved. Marriage. Kids and all their requirements.
Family problems. Health issues. How does one save for tomorrow?
And, more importantly, how much is enough?
The value of money in 20 or 30 years' is going to be worth a fraction of what it is worth today.
Just inflation will take care of that. Even at the lowest possible rate.
Everything just gets more expensive. Every year.
Especially if we want to maintain the standards we have set today.
Very few of us already over the age of 60 can survive on our retirement savings.
Even if we have been saving since our thirties.
Most of us have to find a way or two to supplement our income.
Unfortunately, some of us are desperate enough to be caught in investment scams. Ponzi schemes, I believe they are called.
Huge promises of a fantastic return which will never come to fruition. Because we are desperate, or greedy.
If it sounds too good to be true it usually is.
Fingers will be burnt and fortunes lost. Some very large.
So how much is enough?
Very difficult to arrive at a figure as we are all different.
What may be enough for one will be nowhere near enough for many others.
We each have to look at her own situation, and make our decisions accordingly.
Many of us find our retirement fund or savings is barely enough to cover the monthly medical aid costs.
That is if you can afford to have a medical aid.
As we get older it is no longer a luxury but a necessity.
So, what can we do?
We need to keep up with technology.
I don't mean a the latest "app" which promises great wealth, easily.
Or a win on the lottery. In fact the lottery is probably the biggest waste of money. What are the chances? One in forty million? Not good odds.
So what is one to do?
It's quite simple, really. Not easy, but simple.
Perhaps start a business while you still have an income.
Turn a hobby into a business? Could you start a small business?
We have to think of something, before it's too late.
It's never too late, of course. We can't roll over and play dead.
Joan Baez said: "We all know we are going to die, but how many of us know how to live."
Or words to that effect. Very true for a lot of us.
We don't want to be a burden on our families. Or the government for that matter.
The old age pension doesn't go far, if you can get one.
So, how much is enough? I don't know.
But I'm Learning
in South Africa.
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