YOU ARE EARNING

YOU ARE EARNING 60,000 RAND A MONTH RETIRE AND YOUR INCOME DROPS TO 26,000 RAND. THAT IS THE GEPF REALITY THAT NOBODY SAT YOU DOWN TO EXPLAIN. I'M ZOLA NGQISHA, CO FOUNDER OF SIYOLISE BLUESTAR. I'VE SPENT MORE THAN 15 YEARS HELPING PROFESSIONALS, BUSINESS OWNERS AND GOVERNMENT EMPLOYEES PLAN FOR THE LIFE THAT COMES AFTER RETIREMENT. AND THIS IS PART ONE OF A FIVE PART SERIES I'M CALLING THE GE PF INCOME DROP. WATCH ALL FIVE BECAUSE BY THE END OF THIS YOU WILL UNDERSTAND SOMETHING ABOUT YOUR RETIREMENT THAT MOST MEMBERS ONLY FIND OUT TOO LATE TO FIX. SO LET ME SHOW YOU THE NUMBER. IF YOU HAVE GIVEN THE GOVERNMENT A FULL CAREER, YOU MIGHT THINK YOU WALK AWAY ON MOST OF YOU RETIRE. YOU DON'T. MOST GEPF MEMBERS RETIRE ON LESS THAN 40% OF THEIR FINAL SALARY. EVEN IF YOU HAVE SERVED FOR OVER 30 YEARS, AT ROUGHLY HALF OF WHAT YOU USED TO EARN WHILE YOU WERE WORKING. SO TAKE 60,000 YOUR GROSS CAN FALL TO AROUND 26,000 RAND. THAT IS A 60% DROP IN WHAT HITS YOUR ACCOUNT. AND HERE IS THE PARTY THAT'S MOST CONCERNING. YOU DO NOT FEEL THIS COMING. WORKING, LIFE MAY SEEM FINE. THE CAR, THE HOUSE IN THE SUBURBS, YOU CAN AFFORD THE SCHOOL FEES. YOU CAN TAKE PEOPLE WHO DEPEND ON YOU SO YOU FEEL SECURE. THEN AT RETIREMENT, THE SALARY YOU BUILD YOUR WHOLE LIFE DISAPPEARS AND SOMETHING MUCH SMALLER TAKES ITS PLACE. I WANT YOU TO SIT WITH ONE QUESTION BEFORE THE NEXT VIDEO. IF YOUR INCOME WAS CUT IN HULF TOMORROW, WHILE YOUR BILLS STAYED EXACTLY THE SAME, WHAT WOULD YOU CUT FIRST? BECAUSE IN PART 2, I SHOW YOU THE SECOND HIT, THE ONE THAT COMES FOR YOUR HEALTH AT THE EXACT MOMENT YOU CAN LEAST AFFORD IT. AND MOST MEMBERS NEVER SEE IT COMING.