Retirement is a day in time we’re all looking forward to – the luxury to stop working and to start taking it easy…
However, given the era in which we’re living – the temptations, the pace and the opportunities – very few of us can afford to hang up our gloves at age 55.
This magic day – to start doing nothing – is the making of the insurance companies. It’s the generic date they’ve determined for policyholders to cash-in their retirement investments.
South Africans living and working abroad, however, are far better off because they’re allowed to retire and cash-in their policies when it best suits them – no need to wait on their 55 birthdays.
Long-term affordability, successful living and to better protect their future retirement income from a compounding depreciating South African Rand are but three good reasons for early retirement with the view to transferring the proceeds abroad for investment in their new home countries.
The earlier the better! This form of early retirement does not mean sitting back and taking it easy, it simply means taking control of one’s own financial destiny.
Because when the clock strikes 55 the mandatory one-third ZAR lump sum and monthly pension converted to local currency starts flowing at whoever knows what rate of exchange. Too little too late!
That’s the reason why SA expats can afford to retire early – so they can plan better for the day they decide to really hang up the gloves!
To find out what policy values you can transfer from South Africa we provide a free, no obligation and personal financial report to help make an important decision.