HOW TO SAVE MONEY FOR YOUR RETIREMENT DAYS

In the world of personal finance, there are few decisions that have as significant an impact on our future as those concerning our retirement savings. Retirement savers will have to decide whether to withdraw the money that will become available in their savings pot in case of an emergency or leave it to keep growing for years to come.

“While the temptation to access these funds under the two-pot retirement system may be strong, especially in today’s challenging economic climate, the long-term benefits of patience and disciplined saving far outweigh the immediate gratification of withdrawing the money now.

He says you should think of your retirement savings as a forest of trees. “Each contribution you make to your retirement fund is like planting a new seedling. Over time, these trees grow and produce more seeds, expanding your forest so that you will eventually have enough financial ‘timber’ to live off once you retire. The two-pot retirement system essentially gives you the option to harvest some of that wood before retirement age.”

Start saving today.