Many people lost large portions of the retirement savings by investing in the Sharemax scheme which has highlighted the position you may find yourself in as you enter retirement age. The sharemax scheme may have been a monumental blunder by regulators and the NPA when it came down to prosecuting the perpetrators but the fact remains, the returns were unrealistic and unwitting investors were quick to ihand over their hard earned cash to these fast talking salesmen and women. Naboomspruit was partiularly hard hit by Sharemax but was certainly not the only part of South Africa. There have been an alarming number of criminal schemes that have cost many hard working South Africans the comfortable retirements they deserve. South African savings data shows that only about 6% of South Africans have sufficient savings to afford them a satisfactory retirement.
If you find yourself in a position where you do not have enough to comfortably retire due to bad investments or simply due in part by not investing well or sufficient amounts during your working life.
Family wealth Custodians provide some very simple, actionable methods and ideas to increase your income before and after retirement as well as great ideas on how to increase you savings by making simple changes.
Often, when nearing retirment age and assessing your ability to sustain yourself into retirement, people come to the stark realisation that they have not saved enough and begin to seek out better returns. This is an incredibly dangerous mindset. There are unscrupulous operators out there that prey on that feeling of insecurity by offering unrealistic returns into schemes which are unregulated and make promises of unrealistic returns. Insecurity, desperation and greed often factor into poor decision making and these schemes are highly unlikely to return anything but heartbreak and misery.
Sit down, take out a pen and pad and listen to this video, it may just be the best 13 minutes of your time you have ever spent.
Video by Family Wealth Custodians
