Saving for retirement monthly, is an excellent way to grow your retirement money. But, adding an extra once-off amount can give your retirement savings a significant boost and help you reach your financial goals much faster!<\/p>\n\n\n\n
We\u2019ll show you how your retirement savings <\/strong>will benefit from the extra money you have, added as a lump sum on top of your regular savings contributions. You can do this once or many times a year. Many people prefer to do it before the end of the tax year in February<\/strong>, in time for a tax refund equal to the tax rate they usually pay. The top limit of how much you can invest kicks in at a very high level. The product rules determine the minimum.<\/p>\n\n\n\n The secret ingredient at work is compound interest<\/strong> \u2013 when you not only earn interest on the money you invest, but also start earning interest on that interest. It has a multiplier-effect. In fact, our sums show that if you top up your retirement savings with an extra contribution from your 13th cheque every year, your retirement money will be more than 50% more in the end.<\/p>\n\n\n\n Introduce a game changer for your retirement savings. Using a bonus, 13th cheque, or unexpected windfall to top up your retirement savings can help your money grow exponentially over time, increase your chances of a comfortable retirement, and reduce how much you\u2019ll need to save later. When you add a single lump sum investment<\/a> to your Investo RA from Momentum Savings<\/a> before the tax year ends in February, you can score big on your retirement savings<\/strong>, and unlock valuable tax benefits that fuel long-term growth.<\/p>\n","protected":false},"excerpt":{"rendered":" Saving for retirement monthly, is an excellent way to grow your retirement money. But, adding an extra once-off amount can give your retirement savings a significant boost and help you reach your financial goals much faster! We\u2019ll show you how your retirement savings will benefit from the extra money you have, added as a lump sum on […]<\/p>\n","protected":false},"author":1,"featured_media":157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[7],"class_list":["post-81","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invest-save","tag-retirement"],"acf":[],"_links":{"self":[{"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/posts\/81","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/comments?post=81"}],"version-history":[{"count":0,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/posts\/81\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/media\/157"}],"wp:attachment":[{"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/media?parent=81"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/categories?post=81"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/live.21lab.co\/dofi\/wp-json\/wp\/v2\/tags?post=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How your retirement savings benefit from an extra once-off investment<\/h3>\n\n\n\n
\n
Here\u2019s why<\/h3>\n\n\n\n
\n
In a way, government ‘sponsors’ your investment<\/h3>\nPieter Albertyn<\/a>, Actuary at Momentum Savings<\/cite><\/blockquote>\n\n\n\n