RETIREMENT felt reasonably comfortable that they had enough retirement savings had consulted with a financial planner. Of those who were unsure that their retirement savings would be sufficient, 75% hadn’t consulted with a financial planner. Most of the retirees were concerned that the cost of living was rising but their income was not. The impact of inflation, supporting one’s relatives and minimal state support were all key concerns. None of them wanted to be a financial burden to their children and a few were actually supporting their children and grandchildren. Those who had regrets usually lamented spending too lavishly and not saving enough when they were younger. Interestingly, 75% of the sample were aware they should reinvest the lump sum they received on retiring. Almost all were aware of the need to continue planning and making smart decisions to ensure they were financially secure and could maintain their lifestyles. Five top tips for making your money last as long as you do: 1. Draw up a retirement budget in collaboration with a financial adviser. This should include selecting the right investments to provide you with a sustainable income throughout retirement 2. Consider taking on part-time work or jumping into the ‘gig’ economy to supplement your income 3. Diversify your investments and review them regularly to make sure your returns are on track – don’t leave anything to chance 4. Review how you’re spending your income regularly and get your financial adviser to assist you with identifying and cutting out unnecessary expenses 5. If a lump sum payout is part of your plan, consider how you’ll reinvest this. INGREDIENT 2 GOOD HEALTH ‘Health is worth more than wealth, any day.’ Staying in good physical and mental health is pivotal to enjoying retirement to the fullest. Almost all the retirees cited health as their primary concern. Gene Cohen, director of George Washington University’s Center of Aging and author of The Mature Mind: The Positive Power Of The Aging Brain, says exercising the brain will help it form new connections necessary to ward off dementia. Additionally, it’s important to eat healthily and incorporate a daily exercise regime, since the latter releases endorphins – also known as ‘happy hormones’. Top tips for staying in good health: 1. Make sure you’re financially prepared for every eventuality. An unexpected health crisis can throw off retirement savings, so ensure you have medical aid, dread disease and other cover in place 2. Think about the future and settle somewhere with care facilities close by 3. Stay busy – draw up a daily schedule and try to stick to it. An idle body and mind can lead to depression and declining fitness 4. Find a stimulating activity that you enjoy such as learning to play an instrument or reading 5. Avoid stress, which can damage your immune system. INGREDIENT 3 STAYING CONNECTED ‘I feel very good when I’m able to give back.’ One of the best parts of following a recipe is being able to share the result.