People reaching retirement age urged to make sound financial decisions
They are urged to think long term and to check out there investment portfolios.
|
Many South Africans who reach pension age are suddenly faced with a
substantial nest egg and the desire to do everything they ever dreamed of with
the money.
However, financial experts warn retirees to avoid common mistakes and deal
with their funds wisely so that their golden years can be without any financial
worries.
One of the most common mistakes made by those reaching retirement age
is that they tend to think short term.
Since a retirement period can extend for up to 30 years, it is wise to make
sure that one has enough money to cover minimum requirements for that whole time
period. This can be done by investing in blue chip stock, for example.
Another mistake often made is that retirees do not anticipate inflation to
keep their nest egg growing with the times, so to speak.
Investments, therefore, should be made based on the growth of inflation long
term.
Retirees are strongly recommended to keep their investment portfolios up to
date by having professional financial service providers look them over on a
regular basis
Portfolios should be checked to ensure that they are working 100% for the
customer, and should be tweaked to accommodate any changes in terms of
investment, insurance and so forth.
Email
Print
