Without a proper retirement savings plan, most South Africans will not be able to sustain their accustomed living standard in retirement. Steven Nathan, CEO of 10X Investments , is particularly concerned about the current generation of people entering the job market. “The Millennial Generation has a different outlook on life, which often manifests in worse savings habits than previous generations. Ideally, people should start saving for retirement from their first pay cheque but few follow this advice.” People may well work longer in the future, but they will still have to retire at some point, so it is important to plan for this, says Nathan. For individuals, a retirement annuity fund is the optimal way to save, as this presents significant tax benefits. For an optimal outcome, he advocates you follow these 4 golden retirement rules: Rule 1: Save 15% of your salary Nathan recommends that all employees save at least 15% of income towards their retirement. “So, for every R100 of your ...