Planning for your future, especially old age can be unsettling. But, in all honesty, it is never too early to start planning ahead. The first step to a successful future is to start preparing when you’re young, and more importantly, when you have no relationship commitments tying you down. This will help you make clear decisions that will benefit you financially, emotionally and physically in the long run.  But since you are reading this article, you clearly are aware of the importance of starting young. Before we continue, it’s important to note that planning for old age while you’re single doesn’t mean you will always be a singleton. No, it is simply a time in your life where you can focus on yourself and bettering yourself.  Often when people are in relationships, they make decisions solely based on their partner’s needs. Although there is nothing wrong with that, it can sometimes stop you from making the best decisions for yourself. The decisions you make now can reduce your burden in the long run, and ensure that by the time you meet your life partner, you’ve already created a fruitful life for yourself. To find out how you can prepare for old age, read these tips below. 

Save up for your retirement

The first thing you need to do once you start working is to begin saving up for your retirement. There may be several excuses you keep making every month as to why you don't need to start saving for retirement. But the truth is, there is no excuse.  Saving up for your retirement at a young age can have several benefits for you in the long run. For example, you can have peace of mind in knowing that you don't have to rely on government grants once you retire. You won't be a burden on your family and children, as you will have the finances to sustain your lifestyle. Lastly, when you start saving while you're young, you can accumulate more money to live comfortably, without having to worry about finances. 

Join a company with benefits 

Working for a company which offers benefits is one of the best things you can do for your current and future self. Employee benefits help you to live a comfortable life throughout your career.  When starting a new job, there are a few benefits you should look out for. For instance, you should consider companies which have group cover for their employees; whether that’s group scheme with funeral cover, life insurance, medical aid or health insurance, and credit life cover.  Many businesses offer funeral group schemes in the Western Cape and other provinces in South Africa. A funeral plan ensures that you are protected should there be any accidental death. Sadly, unforeseen events won’t wait till you’re older. Instead, they can happen at any given moment, and this is why being with a company which has a funeral group scheme, or any other benefit, is so beneficial to you and your family members. Always remember that there is more to life than getting your monthly salary. You need to work for businesses which care about their staff and understand the need for group funeral cover and group life cover. 

Draw up a basic will 

Having a will is one of the wisest decisions you can make for yourself and your family. Because you’re only starting out, you may not have many assets, but your ‘will’ should specify who you wish to give your assets or prized possessions to. Although you are single now, you can leave your belongings with another family member. Once you grow older and have your own family, you can request to change your will to include your spouse and children. 

Final thoughts 

Planning for your future self is scary, but it’s an important thing to do. Planning ahead helps put your mind at ease, knowing that your future is secure. This is especially crucial if you are someone who usually stresses about the unknown, as this will help you have some sort of control. So, make the best decisions for yourself when you’re young, and allow yourself the pleasure of enjoying all your hard work when the time comes.  

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