Guiding consumers since 2009

Don’t wait until the well has run dry …

By 10X - Partner Content

With dam levels at record lows and severe water restrictions in places, few Capetonians could have escaped recent warnings that the pipes would soon run dry. A bit like older people and their money. And despite the ramping up of water restrictions to proper crisis levels and terror-induced action on water saving in the suburbs it seems we are still hurtling towards Day Zero. It seems the damage has been done and decades of wastefulness cannot be undone in a few weeks.

How we would love to go back to our wasteful old ways when there was lots of water; much like retirees who are nostalgic for those days of disposable income. But we can’t indulge those desires because we didn’t listen soon enough.

In fact, we are now told that warnings about impending and inevitable drought in the Cape had been writ large for a long time. The city council is accused of ignoring warnings about living on borrowed time for decades. Haven’t we heard the same accusations when it comes to planning for retirement?

We are human, and denial is part of our condition. Even long after middle class concerns about the roses dying and the gym closing the sauna were replaced with threats of environmental devastation, skyrocketing food prices and the dependence on water deliveries by truck, people were having a sneaky bath. Same way we keep on spending when we know we should be saving.

Preserving water in luscious wet times is a little like putting money aside for your retirement when you are young and feeling flush (and at least a little invincible).

Who wants to think about such a thing as old age when you are just getting a grip on the greasy pole to professional and financial success? It seems like nothing could go wrong, like you might just live forever. Well therein lies the rub! You might live for the human equivalent of forever and quite possibly outlive your savings.

What’s worse than having to depend on water trucks for deliveries?

Not being able to pay the water truck for deliveries.

There are ways to mitigate against these two possibilities:

1. Making being thoughtful and water-wise a lifestyle rather than an emergency measure is one.
2. Planning for your retirement is another.

10X Investments offers uncomplicated advice and a simple, low-fee product. Close the tap properly and ensure you have what you need in your Golden Years.

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