This is an important question to ask. By setting a target and sticking to it, you'll be in a position to enjoy your retirement at the age you've selected.
This topic deals with the next 2 questions on the list - What age do you want to retire at, and how much money do you want at retirement.
Remember that it's never too late to start saving, and if your monthly premiums become a cost that you don't think you can afford, rather reduce them, than stop them completely. Let the power of compounding work in your favour. If you don't think you'll hit your goal at your desired retirement age, there are 3 options......
As a rough rule, for every R4000 of income you want at retirement, you need to have saved R1 000 000.
There are many great calculators on the market to work out exactly what you should be saving - including www.liberty.co.za/
Speak to your financial adviser to put a retirement plan in place now and retire comfortably at the age you would like.
I'm a Life-First financial adviser looking to develop long term relationships with my clients.