Paula Luckhoff14 May 2024 | 19:40

How to make sure you can retire with financial freedom (you need more than retirement funds)

Bruce Whitfield talks retirement investing with personal finance expert Warren Ingram.

How to make sure you can retire with financial freedom (you need more than retirement funds)

Picture: © deagreez/

Retiring without a worry in the world is a wonderful goal, but you have to PLAN for financial freedom.

The majority of people need to bolster their traditional retirement funds, whether it's a company pension or retirement annuity.

RELATED: How to invest for growth when you're approaching retirement

While your retirement fund is an excellent vehicle and you should not stop your contribution, it is NOT the only thing you need to have, emphasises personal finance expert Warren Ingram.

"Over almost 30 years I have come across EIGHT people who have got to retirement on just one investment - their pension, and all of them were unique in that they started their careers a long time ago and were with one company their entire working lives."
Warren Ingram, Executive Director - Galileo Capital

Other investment vehicles include things like flexible investment accounts, endowments, and tax-free savings accounts, Ingram says on The Money Show.

Benefits to having capital spread across different products:

Flexibility: In retirement, you want to have multiple sources of income. This will allow you to draw a tax-efficient income.

Diversification: Retirement funds are subject to Regulation 28. You can use other investment vehicles to increase your portfolio's allocation to equities and offshore investments.

Accessibility: If you've used up your emergency fund, you'll have the option to access a portion of your capital if a need arises that is beyond your control. (Covid, retrenchments, relocating abroad, etc.)

Listen to Ingram's detailed advice at the top of the article