Saving strategies post-retirement | Retirement planning

In this episode of Everything Counts, host Motheo Khoaripe is joined by Kate Robson (co-head of Investec My Investments) and Johan Loubser (head of adviser enablement) to unpack what happens after you retire: how to pace your spending, keep your income resilient and avoid treating your lump sum like a bonus.

What to do with your retirement lump sum

Your income pauses; your expenses don’t. That tempting lump sum is designed to fund decades − 20 to 30 years for many retirees. The first big call is often the hardest: resist clearing every last rand of debt if it leaves too little invested to generate income. Instead, look at restructuring and preserving capital so your money keeps working.

Retirement income planning: liquidity vs locked-in savings

It’s not only how much you’ve saved; it’s how it’s held. Liquidity matters. Know what’s accessible (discretionary funds), what’s locked up (retirement products), and how that blend supports real life − travel, home maintenance, helping family, or unexpected costs.

Do you need a financial adviser for retirement?

Friends mean well; professionals are accountable. A strong adviser relationship is built on listening, clarity and ongoing alignment with your goals, health and lifestyle. Good advice simplifies your financial world, saves you time, and gives you the confidence to stay the course. Importantly, the conversation shouldn’t stop at retirement − this is when guidance becomes critical as you shift from accumulating to drawing down.

Insurance for retirement: medical aid, gap cover and travel cover

Medical costs tend to rise faster than inflation. The team stresses maintaining robust medical aid, gap cover and critical illness protection so a single event doesn’t force you to raid long-term savings. If you travel, make sure you’re adequately insured too.

Supporting family in retirement: “black tax”, gifts and boundaries

It’s natural to want to celebrate or help loved ones − pay off a child’s debt, fund a grandchild’s studies, or support extended family. Build that into the plan. Set clear boundaries so generosity doesn’t jeopardise your own security.

Where to live in retirement: stay, downsize or retirement village?

Where will you live? Retirement villages and care can be expensive. Decide early whether you’ll stay put, downsize or live with family − and price the implications into your plan.

Key points to consider post-retirement:

1. Your partner isn’t a retirement plan. Your independence is.
2. Women typically live longer. Plan for longevity − your money should, too.
3. Start early, stay consistent. Small, steady contributions add up.
4. Stay invested and stay informed. Markets and regulations change; your plan should evolve.
5. Keep talking to your adviser. Pre-retirement and post-retirement decisions both need guidance.

Retirement should feel like freedom − not a cliff edge. With clear priorities, proper protection and the right adviser by your side, you can enjoy the life you’ve worked for − without second-guessing every move.