Page 33 - Waterfall City July Issue 2023
P. 33
NINE RULES OF THUMB
FOR YOUNG INVESTORS
By Adriaan Pask, Chief Investment Officer: PSG Wealth
“The best
preparation for
tomorrow is
doing your best
today.”
A n early start is at the heart lifespan increasing by about three
of achieving sufficient
years for every 10 years that pass. By
financial resources for
the time a person turns 85, they will
the lifestyle you desire
for yourself and your family. It therefore require additional savings
to survive until the age of 105.
gives your investments more However, the current pension system
time to compound and grow. and retirement age in South Africa
Here are nine rules of thumb for means that people tend to have less
younger investors who want to time to save enough for a longer
secure a strong financial future. retirement. The World Economic
Forum expects a massive shortfall
Rule 1: Plan to reach your (US$80 trillion) in retirement funding
100th birthday among retirees globally by 2025
Many studies have found that because many are underestimating
advances in medicine, technology Adriaan Pask, how long they will live and how
and overall quality of life have Chief Investment Officer: much money they will really need in
resulted in the average person’s PSG Wealth retirement.
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