How Much Do You Need to Retire in South Africa?

Replace net income, not gross

Retirement planning targets the expenses and tax you will actually pay after work stops — often 70–80% of pre-retirement net for comfortable lifestyles, less if bond-free and children independent.

Medical aid and gap cover usually rise in real terms after 65 — do not assume expenses halve automatically.

Capitalise the annual need

Divide annual net need by a sustainable draw rate — often 4–5% real in planning models — to get required capital. R600 000 per year at 4.5% needs roughly R13.3m, excluding state pension and existing annuities.

Add lump-sum goals: car replacement, home maintenance, helping grandchildren.

Model in today's money

MyGenie's Going on Retirement event projects fund value at retirement, annuitisation options and shortfall against your stated income need — using the same engine as your full household plan.

This article is illustrative and educational. It is not financial, tax, or legal advice. Figures are examples only — model your own situation in MyGenie or speak to a licensed financial adviser.