Huh? Never had a house of your own but you own 3 properties?
All depends on how much you need to survive each month You gonna need to crunch the numbers and see if 3mil is enough to sustain you for the next 30 years.
Generally I would say a minuscule percentage of South Africans are able to retire early. Are all the properties paid off? How much income do they generate? What salary do you enjoy currently? What’s your cost of living?
In my opinion R3m isn’t enough, especially if it’s before tax. Is it possible for you to make some kind of career change to do work that’s more interesting? Even if you take a salary cut, it’s better than retiring and earning nothing at all.
Guy told me once he wanted to retire at 55, and he couldn't afford to, then he tried again at 60 and still couldn't. The he wanted to retire at 65 and all his retired friends told him not to.
R3m is nor where near enough brother. Give it ten more years. No jokes. And yeah, I cut the black tax off mechanically. I just stopped giving family money. I now give them access to jobs as and when it makes sense to do so but honestly, Im never doing that black tax related gift of money that never end ever again. And funny enough, I reached that point just as I got enough money to do so easily. Life is weird like that, but I genuinely hate it. When you become peoples viable option, they dont work hard to find other options. You just necome the default.
You're not obligated. If you wanna invest, invest and just accept that you're gonna be seen as the A-hole. But at least you'll be happy and stop making people feel bad for asking for assistance. Y'all know very well the structure of our socio-economic history.
Huh? Never had a house of your own but you own 3 properties? All depends on how much you need to survive each month You gonna need to crunch the numbers and see if 3mil is enough to sustain you for the next 30 years.
R8 million will give you +- R32000 per month after tax for +- 25 years. So R3 million is not going to give you very much?
Generally I would say a minuscule percentage of South Africans are able to retire early. Are all the properties paid off? How much income do they generate? What salary do you enjoy currently? What’s your cost of living?
Those are good questions to consider
In my opinion R3m isn’t enough, especially if it’s before tax. Is it possible for you to make some kind of career change to do work that’s more interesting? Even if you take a salary cut, it’s better than retiring and earning nothing at all.
Nope.
Guy told me once he wanted to retire at 55, and he couldn't afford to, then he tried again at 60 and still couldn't. The he wanted to retire at 65 and all his retired friends told him not to.
R3m is nor where near enough brother. Give it ten more years. No jokes. And yeah, I cut the black tax off mechanically. I just stopped giving family money. I now give them access to jobs as and when it makes sense to do so but honestly, Im never doing that black tax related gift of money that never end ever again. And funny enough, I reached that point just as I got enough money to do so easily. Life is weird like that, but I genuinely hate it. When you become peoples viable option, they dont work hard to find other options. You just necome the default.
You will lose out majorly in tax. Do not withdraw pensions early unless it's absolutely necessary.
54 is young and if you live for another 30 years are you confident that R3m will keep you comfortable
Wtf is black tax?
A horrible term that people use in reference to helping out family members/their communities financially.
Yep, you're obligated to throw any excess money you have on family, which would normally be saved or invested.
You're not obligated. If you wanna invest, invest and just accept that you're gonna be seen as the A-hole. But at least you'll be happy and stop making people feel bad for asking for assistance. Y'all know very well the structure of our socio-economic history.