{"id":2118,"date":"2018-10-03T08:48:25","date_gmt":"2018-10-03T08:48:25","guid":{"rendered":"https:\/\/littleloans.co.za\/blog\/?p=2118"},"modified":"2018-07-28T08:50:16","modified_gmt":"2018-07-28T08:50:16","slug":"9-genius-ways-save-retirement","status":"publish","type":"post","link":"https:\/\/littleloans.co.za\/blog\/9-genius-ways-save-retirement\/","title":{"rendered":"9 Genius Ways to Save for Retirement"},"content":{"rendered":"

The most common ways to save for retirement are through pensions and provident funds, but for many South Africans, this just isn’t enough<\/a>.<\/p>\n

If you want to live well after retirement, then you have to start saving as much money as you can as soon as possible. It’s never too early to begin!<\/p>\n

These genius ways will help you maximize your retirement savings so you can thoroughly enjoy your golden years.<\/p>\n

Keep reading to find out what you can do to save more money for retirement.<\/p>\n

1. Do the Math<\/h2>\n

Before you go any further, you need to take a minute and figure out exactly how much money you’re going to need during retirement and how much you need to start saving now to make it happen.<\/p>\n

2. Make a Budget<\/h2>\n

Once you know how much you need to be saving, you can use that to make a budget. And, most importantly, follow that budget<\/a>. Then, anything extra can go towards retirement.<\/p>\n

3. Save Your Raises<\/h2>\n

When you get a raise, don’t increase your budget. Instead, consider that extra retirement money every month!<\/p>\n

4. Start with 1%<\/h2>\n

You don’t have to jump into saving 15% or more every month for retirement if it’s too hard. Just start by saving 1% more than what you’re already putting away. Every year, increase it by another 1%.<\/p>\n

5. Diversify Your Portfolio<\/h2>\n

Make sure your money is going into different accounts, locations, and industries. That’s the best way to ensure that you’ll have something to fall back on should one of them fail to return on your investment.<\/p>\n

6. Invest<\/h2>\n

Speaking of investing, you don’t want to save for retirement by shoving all of your money under your mattress. Instead, invest it wisely.<\/p>\n

Then, you won’t be able to spend it in a moment of weakness and you’ll get extra money without extra effort.<\/p>\n

7. Start a Side Hustle<\/h2>\n

Find something you’re passionate about or good at, and use that to work on the side<\/a>. You could sell cupcakes to people at work or do some freelance graphic design. Whatever it is, put the profits towards retirement.<\/p>\n

8. Downsize<\/h2>\n

A surprising number of people have a bigger house and more stuff than they actually need. Consider moving to a smaller home or even just getting rid of things you don’t need.<\/p>\n

All of the money you make from selling your big house or extra things can help you enjoy your retirement more.<\/p>\n

9. Actually Save Money You Save<\/h2>\n

When you get a good deal on your groceries, figure out how much you saved and put that extra into your retirement portfolio.<\/p>\n

You won’t miss it from your budget since it normally would have been spent on food, and your future self will thank you.<\/p>\n

Looking for More Ways to Save for Retirement?<\/h2>\n

By doing all of these things, you’ll be able to have more than enough money saved by the time you retire to really enjoy your life.<\/p>\n

One of the best ways to save for retirement is to be your own financial planner<\/a>. Don’t forget to check out that blog post and more to find out more ways to save and make money!<\/p>\n","protected":false},"excerpt":{"rendered":"

The most common ways to save for retirement are through pensions and provident funds, but for many South Africans, this … <\/p>\n

Read more9 Genius Ways to Save for Retirement<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":2120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[46],"tags":[],"_links":{"self":[{"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/posts\/2118"}],"collection":[{"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/comments?post=2118"}],"version-history":[{"count":2,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/posts\/2118\/revisions"}],"predecessor-version":[{"id":2127,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/posts\/2118\/revisions\/2127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/media\/2120"}],"wp:attachment":[{"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/media?parent=2118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/categories?post=2118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/littleloans.co.za\/blog\/wp-json\/wp\/v2\/tags?post=2118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}