3 June 2021
Hence, a strategy is to offer employees who are a few years away from retirement, the opportunity to retire early, possibly without the usual penalties imposed for cashing in their retirement funds prematurely. If you are an employee in your mid-50s, this may be an attractive option.
You’ve worked hard for many years and the thought of having more free time may be quite appealing. Be careful not to make an uninformed decision though, says Dinash Pillay, National Business Development Manager at Glacier by Sanlam, as there is much for you to consider before you hand in your early retirement notice.
Most people don’t think about their retirement before they are already in it. Planning is of paramount importance and financial planning is central to the big decision that you’re facing. Here are some questions to answer, long before you exit your workplace for good:
We know that people live longer now than in previous generations, so there is the likelihood that you will live beyond 80. Dinash says that the most important question for people facing retirement, arguably is: will my retirement savings last as long as me? Before you make any life- or finance-changing decisions, the answers to these questions will inform your decision-making.