Graham Downs on Nostr: I just saw a post saying exactly what I said about this "Two Pot Retirement" thing ...
I just saw a post saying exactly what I said about this "Two Pot Retirement" thing back when they announced it all those months ago (in a very brief nutshell, it lets people draw out a certain percentage from their #retirement funds before they would normally be allowed to): People think, "Oh, it's fine. I can take out R30k now. It's only R30k, it'll be okay."
The thing is, it's NOT "only R30k". If you take out R30k now, your retirement payout won't just be R30k less -- which is nothing if your estimated payout is like R2 million or whatever -- it'll be (R30k plus 30 years worth of compound interest on R30k) less.
It's a bad idea. Be smart. Don't do it. #SouthAfrica
The thing is, it's NOT "only R30k". If you take out R30k now, your retirement payout won't just be R30k less -- which is nothing if your estimated payout is like R2 million or whatever -- it'll be (R30k plus 30 years worth of compound interest on R30k) less.
It's a bad idea. Be smart. Don't do it. #SouthAfrica