The South African Reserve Bank’s Monetary Policy Committee (MPC) recently lowered interest rates in line with expectations but commented that they were now aiming for the lower end of the 3-6% target range for CPI, rather than the midpoint of 4.5%, as previously communicated. The finance minister cautioned against interpreting this as official policy, indicating that a formal agreement between the SARB and Treasury was still needed.

Retirement as we know it is barely 150 years old. Otto von Bismarck introduced the world’s first state pension in Germany in 1889, setting the retirement age at 70, an age that only a minority of the population actually reached. The concept was simple: work until you could no longer physically do so, and then society would care for you in your final years. That world no longer exists.

WHY CONNECTION MATTERS IN FINANCIAL PLANNING On the Camino (The Camino de Santiago, also known as the Way of St. James), you don’t just...