What I learnt about pension
I turned 55 in January and i learnt some hard facts about pension
.takes long to cash in
.all companies informs Sars that you are retiring and if you owe taxes Sars takes their portion and you get bal
.first 500 000.00 is tax free and above that you pay tax
. The company where you invested eat into your investments via fees
.saving is not enough one needs other sources of income and finding this fact at retirement will be devastating
Lesson
Be debt free as early as possible and put away more earlier
Increase sources of passive income
Check your lifestyle costs
There wont be a chance to dust off your cv and go looking for job after 65
We as DNIPRENEURS know these
DNI Business challenging the status quo