How to plan for the 3 phases of retirement

AS SOUTH Africa's population ages and life expectancy increases, retirement is becoming a phased, multi-decade journey that demands thoughtful planning, emotional preparedness, and strategic financial insight.

- JOHN KENNEDY

Here is how retirees can live meaningfully in the “last third” of life - by having the freedom to choose how they want to live, independently, while creating a legacy that truly reflects their values.

Your children need your independence

According to recent research, 43% of SA adults financially support their parents while raising their own families, creating multi-generational financial strain. This highlights the importance of retirees needing to be financially independent, not just for their own peace of mind, but for the well-being of their families.

Your children need your independence more than they need your money or an inheritance. They want to enjoy their time with you.

The dual responsibility of the “sandwich generation”, which places significant financial and emotional strain on families, often leads to delayed retirement savings, increased debt, and heightened stress levels. This is where comprehensive financial planning can be very helpful in navigating these challenges and ensuring long-term financial stability for all generations involved.

Rethinking retirement: from destination to a new beginning