In South Africa, only about seven to eight million of the general population has put measures in place for their retirement.
The South African National Treasury also indicates that only around 6% of the population will have enough money to retire comfortably, without having to change their standard of living.
One of the major contributing factors is that people simply do not know enough about the retirement products they are investing in.
Before choosing to invest in any retirement product, make sure you know how your money is being invested, what your asset allocation is and, most importantly, how much you are paying in fees.
10X Investments is a licensed Retirement Fund Administrator and Investment Manager, which provides a full range of services and products to investors. Instead of a plethora of investment options, 10X has one easy-to-understand investment strategy.
When investing with 10X, your investment strategy is designed to take your time horizon into account. Your portfolio will track the index, avoiding the pitfalls of active management, while the asset allocation is optimised depending on how close you are to retirement. By adopting this strategy, 10X is able to charge you less in fees and ensure more of your money is invested.