Stepping into a new chapter

How do you know you are ready to retire? It is no longer a question of how old you are, but of how much you have saved to ensure you can have a comfortable retirement.

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Siphamandla Buthelezi, head of platforms at advisory firm NMG Benefits, says there is a moment in every career when you should stop asking, "How much have I saved for my retirement?" and start asking, "What now?"

"Retirement is not the end of your financial journey but the beginning of a new one," he says.

"While most of us spend decades building up our retirement savings, far fewer take the time to understand how to turn our savings into a reliable income, navigate new tax realities and properly plan our estate.