Thursday, 26 March 2020

Care and Planning for a financially stable retirement

New statistics from The Association for the Aged (TAFTA) show that only 6% of all South Africans are able to retire completely independently of others. In fact, an estimated 47% of South Africans are said to rely on family and/or friends for financial support, while 15% rely solely on their state pensions.

Taking proper care of yourself plays a role in planning for a financially stable retirement

This data is indicative of just how important it is to start planning for your retirement early. Most experts recommend putting a retirement plan into place and starting to save for this purpose when you’re still in your twenties!

However, planning for a financially stable retirement is about more than simply putting enough money away. It is also about taking better care of yourself to stave off the need for home help as long as you possibly can. The healthier you are, the less care you will require as you age, and the further you'll be able to stretch your savings. Here are some tips.

Get enough sleep

Quality sleep, and getting enough of it, is always important – and even more so the older you get. Unfortunately, a number of people will struggle with sleep-related issues as they age, such as insomnia or battling to remain asleep for long periods of time. Ideally, you should be striving for seven – eight hours of sleep every night.

If you do suffer from sleep issues, visit a medical professional who can help you to address them. Often, a better approach to stress release is enough to resolve most problems.

Eat well

There have been various studies that have demonstrated that dietary adjustments are required by seniors as they age. There has been evidence to suggest that increasing your consumption of fruit and vegetables, as well as protein-rich food, and cereals and grains may play a role in warding off memory loss, diabetes, and heart disease, and could reduce your risk of developing Alzheimer's. 

Exercise

Often, age brings with it stiffness and rapidly declining energy reserves, but that doesn’t mean that you should give into the temptation to spend more time in bed or on the couch. In order to hold onto your mobility, you need to embrace it every chance you get! Think low impact, gentle exercise in the form of yoga, Tai Chi, Pilates, swimming, walking etc.

Remember, to get your finances in order in conjunction with your health and wellbeing, it is always worthwhile to consult with a financial expert for assistance and total peace of mind.

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