Retirement Planning/Investing

[Dave A]

There are patches where some pretty sharp practices crept in. Maybe I'll make a post on that when I've got some time.

...but that would make you really old lol...

I've been around long enough to discover that the meaning of "really old" is very much a relative thing

[sykotik]

Hmm, stumbled across this topic thought i might ask a few questions, Im 25 have been with my employer for 5 years and contribute 9% to a provident fund, as far as i know that will never be sufficient at retirement. To be specific in my 5 years of employment i have only managed too accumulate about 15k... what other avenues should i be looking at in order for a trouble free retirement in the "distant" future??

[Nickolai Naydenov]

Well for this tax year we can look at what your RFI and NRFI is we can then calculate the maximum tax deductable amount, but I suggest you get a full financial needs analysis for retirement just so you know where you stand. From next year one will be able to deduct 22.5% of their total income for retirement tax deductable t the maximum of R250 000 everything over and above that will be yaxed but on retirement the money will be tax free.

Also don't forget that from next tax year the comany contributions will be subject to fringe benefit tax thereore all retirement funds and salaries should be restructured.

I hope that helps, feel free to pm me if you have any queries.

[Houses4Rent]

Since the thread links Retirement with Investing I am looking for some answers here.

Are there properties available to buy in retirement estates which can then be let to pensioners instead of being moved in by the buyer now, maybe never or at least at a much later stage when buyer hits that age.

I can see the not just local problem of people getting older then before and they all need to live somewhere with or without care facilities, but still it must suit certain needs. I believe there is a shortage of retirement housing already and it will get bigger. So I want to invest in buy to let in this sector.

The few things I looked at were all not suitable to this model. Any leads are welcome.

[Dave A]

The few things I looked at were all not suitable to this model.

That sounds like your requirements are more than just "retirement housing".
What are your other criteria that you need met, Marc?

[Houses4Rent]

Here is another reason why I believe policies are an utter waste of time.

http://www.moneyweb.co.za/moneyweb-financial/sanlam-pays-r175m-to-settle-pension-scam

Dave A: Other criteria like return of investment are secondary for now. Primarily I need to find schemes first which allow investor, non resident buyers.