Plan for life after retirement

However, Premier Wealth financial planner, Martin Hoko, explains that simply waiting and believing that one can rely on their pension is unwise and carries high risks of frustration.Rather, Hoko says, people should develop life plans which entail what they want, when and how, for life after work.

"Assuming that you will decide after retirement is dangerous," he told participants at a retirement planning seminar last Tuesday."The reality is that people should avoid a situation where they will just wait and say they will decide to start a successful business after retirement."