You actually have two salaries. The one you have now, and the one you have when you will retire…
July was national savings month and the government (and financial services industry) are trying to create awareness amongst people- young and old to save more. We as South Africans in particular, performs very bad when it comes to saving, and yet we excel at spending.
Sanlam- Glacier conducted a social experiment to find out if the idea of a perfect life matched the life you’ll be able to afford once you’ve retired.
They started by asking a question:
If you could visualise your perfect life in the future,
surely you would be motivated to save enough to make it a reality?
Three subjects with great careers and lifestyles were offered the opportunity to live the life they’d always imagined if they never had to work again.
Once we revealed this chosen perfect life to them on screen,
we gave them a salary to make it a reality.
However, the salary we offered them was far below
what they actually needed to live their perfect life.
Why? Because it was the amount calculated from their actual retirement savings in today’s money. Needless to say, they declined the offer. But even though it was bad news, it was revealed early enough for them to do something about it.
They are all now actively planning to put away the right amount of money to live the kind of retirement they dream of.
Most people only discover their retirement salary just before they retire.
Click here to see the video… and make sure that you are on your way to “your perfect life”