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A Fin24 user wonders whether he would be able to retire at 51. He writes:
Is it possible to take retirement at age 51 and survive comfortably with a pension of R3m? Am I able to buy a lifestyle annuity at this age?
Lloyd Buthelezi of Nedbank Wealth anwers:
South African legislation prescribes a minimum of 55 years before one can benefit from retirement annuities.
And with regards to whether R3mil is sufficient or not, it largely depends on the income requirements of an individual.
It may be useful for to see a financial planner to do an analysis based on your comprehensive needs and situation.
This will give a clear answer based on facts.
- Fin24
Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.
Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.
Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.
Is it possible to take retirement at age 51 and survive comfortably with a pension of R3m? Am I able to buy a lifestyle annuity at this age?
Lloyd Buthelezi of Nedbank Wealth anwers:
South African legislation prescribes a minimum of 55 years before one can benefit from retirement annuities.
And with regards to whether R3mil is sufficient or not, it largely depends on the income requirements of an individual.
It may be useful for to see a financial planner to do an analysis based on your comprehensive needs and situation.
This will give a clear answer based on facts.
- Fin24
Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.
Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.
Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.
