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COVID-19: What you should be doing about your retirement savings
Many people are expected to lose their jobs due to the economic pain the spread of the coronavirus is expected to bring. Now that South Africa has enforced a national 21 day shutdown, which many see many companies go bust, what should individuals that become unemployed, do with their pensions and retirement savings? Steven Nathan, CEO and Founder of 10X Investments joins CNBC Africa for more.
Tue, 24 Mar 2020 15:56:49 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The importance of finding a balance between accessing retirement funds and preserving long-term savings
- The significance of maintaining a long-term investment perspective despite market volatility
- The potential need for companies to consider temporary measures such as pension fund holidays to alleviate financial strain and preserve jobs
As the economic fallout from the global pandemic continues to unfold, many individuals are facing the harsh reality of potential job loss and financial instability. With South Africa now under a national 21-day shutdown, the prospect of even more companies going bust looms large. In this uncertain climate, the question of what to do with pensions and retirement savings has become a pressing concern for many. Steven Nathan, CEO and Founder of 10X Investments, recently joined CNBC Africa to offer insight and guidance on navigating these challenging times.
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