What Does Your Retirement Plan Look Like? What does your retirement plan look like? Are you preparing yourself for life post employment age (65 years in SA)?

Are you preparing for life after retirement? While this might seem like a distant future, it’s a reality we’ll all face eventually. The question is: Are you intentionally laying the groundwork today to maintain a quality life when employment is no longer an option?

For many young professionals, this question is particularly personal. Many of us are grappling with the challenge of Black Tax—a responsibility often brought on because our parents lack retirement funds to fall back on. Understandably, we don’t want our children to face the same burden in the future. But avoiding this requires action today.

Living your best life—but for how long?

As a working professional, you might currently enjoy the perks of your income:

• Private healthcare

• A stylish home or apartment

• The car of your dreams

• The ability to provide for your needs and indulge your wants

  
  

Essentially, you’re living your best life, as you should. However, here’s the question: Can you sustain this quality of life post-retirement? For most of us, our skills might not be deemed scarce enough to retain employment after 65. If your income stops tomorrow, will your current lifestyle collapse? And if so, how can you ensure your quality of life doesn’t diminish when you’re older, frailer, and financially dependent on savings or loved ones?

What are you really investing in?

Think about how you spend your money today:

• Will the designer clothes you buy now serve you when you’re retired?

• Are those bi-weekly themed parties or luxury purchases truly investments?

• Will the expensive car you drive now hold enough value to bail you out of a financial emergency years from now?

  
  

Here’s a tough truth: the things we often prioritize today—clothes, cars, and parties, won’t support us when we need them most.

The retirement reality check

Imagine this:

• Today, you enjoy private healthcare. Will you have to rely on public healthcare when you’re retired?

• Today, you drive an expensive car. Will you end up walking in your older years?

• Today, you shop at high-end stores. Will you need someone to top up your grocery bill later?

• Today, you dress to impress. Will someone notice your slippers are torn when you’re older and help you replace them?

  
  

It’s a sobering thought, but one worth considering.

Are you preparing for future you?

The reality is this: your current consumption habits can harm your future quality of life if you’re not deliberate about saving and investing. Even if you have a workplace retirement fund, it’s worth noting that the new 2-pot retirement system and tax implications may shrink what you’ll eventually have access to. Are you actively investing in anything today that will mature and provide for you when you’re older? Or are you leaving your future self vulnerable, hoping someone else will step in to fill the gaps?

It’s not too late to start

This isn’t meant to cause unnecessary stress or anxiety—it’s a call to action. The good news is that it’s never too late to start. Whether it’s revisiting your budget, learning more about investment options, or even starting small with consistent saving habits, every step matters.

Empower yourself today to safeguard the future you envision. Your older, frailer self deserves the same level of care and quality of life you enjoy now. The best time to start preparing for your retirement was yesterday, but the second-best time is today.

Remember: When you fail to plan, you plan to fail. However, with intentional action, you can rewrite the story of your retirement. Future you will thank you.