Pension funds are worth it
I took out a pension from the metal industries 18 months ago, it is 15% of my income. In 18 months after depositing R84,900 In contributions, the interest I earned from it was R14,500. It's now worth over R100,000. In little over a year.
I was quite happy with that, that's the highest return I have seen with my finances. I mean I was saving in a separate account about R9000 per month and that has saved R115,000 in the same amount of time, but the pension fund looks like it's gonna overtake my savings. I'm also 33 at the moment. And don't earn a huge amount, probably about R23,000 per month.
so in total I have saved R200k in 18 months from zero. but the pension earned so much of interest that in 5 years from now, I'll have over a million, and I'm not even close to retirement age. which means by the time I retire, I should be a multimillionaire.
What type of thing are you doing to grow your finances for your future? Is it working?