the efforts of our government and our employers we have still found that many individuals are suffering financially as a result of the effects that the pandemic has had on the economy. There is generally less cash to go around and Batswana are struggling to cover monthly costs, make debt repayments and some may find that retirement savings is just a bridge to far.

One of the most important things I have learnt is that in order to get through Covid19 we need to take each day as it comes. We just can’t plan for the short term anymore and we don’t know what tomorrow will bring. Will we be able to go to work? Will we be able to see our families? Will we be able to celebrate special occasions? Will our children be able to go to school? And will we even get paid?

Some of the important things we have learnt this year:

• We can’t predict the short term
• Life can and does change continuously and we are inherently afraid of change
• Jobs and salaries are not a given
• Many of us can live with less than we thought possible
• Many of us find that living with less doesn’t make our lives worse
• We are more resilient than we knew
• School teachers are a gift sent to us directly from above

So how can you translate what we have learned during Covid into positive actions that can be taken to improve our long term financial position and help us retire well:

Look long term when investing for retirement.

• Although we can’t predict short term returns, returns become a lot more certain over the long term. Keep focused on the long term and ignore all noise in the marketplace.
• Ensure you are contributing to a portfolio which has an appropriate risk profile for you.
• Do whatever you can to continue making contributions

Less is more

• Try to embrace the simple things in life and find cheaper alternatives to luxury goods and non-essential spending.
• Spend more time focusing on the important things in life such as family and loved ones. Some of the best moments in life may be sharing a homemade be a cup of tea with a loved one
• By living with less you can save more and then then contribute the additional cash to your retirement fund

Don’t be afraid

• Although change can be absolutely terrifying, take the opportunity to learn more about your retirement fund.
• Rather than remaining afraid, take the opportunity to make changes to your financial mindset and spending and saving habits. By doing this you will ensure that even though times are tough now, you will be better off in the future thanks to the lessons you have learnt during Covid19.

Take responsibility for our own financial future

• Every one of us needs to understand that no one is responsible for our financial future but ourselves
• Understand where your retirement funds are invested and in which asset classes they are invested
• Take time to understand what you can do to improve your chances of retiring well. Your fund should be able to provide you with an indication of how you are doing as well as some ways in which you can improve your position.

Give you kids teacher a box of chocolates

• Learn to appreciate all the things you have in your life. This will make you happy and will help cultivate an abundant mentality. Although this is not financial advice, you are what you think and if you can start to look at everything that is good in your life you will keep accumulating more good.