With the current advances (not to mention future ones) in technology and medicine you can expect to live longer.
That means you’ll need to make provision for an additional 20 - 25 years if you are planning to retire at age 65. On the upside you should be debt-free i.e. you don’t have to worry about car or bond repayments and university fees. On the downside you do need to take care of your health. With ageing comes many unwanted ailments. Having enough medical cover to keep you comfortable is essential in South Africa. Now imagine reaching your retirement age without having saved adequately and ending up on a state pension of R1780 per month. From this amount, groceries, electricity, utilities and other expenses need to be paid.