A R10k boost gets 10Xer closer to the retirement of her dreams

Pilka Lalloo is a lot more than an award-winning dreamer (although she is that too). After winning 10X's Dream Retirement competition, the 29-year-old financial manager added her R10k prize money to her investment portfolio rather than blowing it on some instant gratification because she is determined to make her dreams come true.

The Dream Retirement competition, which ran for August and September, had savers inspiring and amusing each other with their dreams and schemes as they shared a little about what their dream retirement looked like on 10X’s Instagram and Facebook pages.

10X received hundreds of entries about how retirement savers dream of travelling to exotic places, driving a classic aston martin (with bluetooth), or retiring on a farm and growing their own vegetables. Many said they looked forward to having the time to give back to others, whether that involved doing voluntary work or taking care of family members.

Our winner, Pilka, whose name was selected randomly from all qualifying entries (all of your dreams are equally meaningful to us), is one of those who dreams big. She wants to retire while she’s “still fit to travel”. She says: “With a deep love for wildlife photography, I would love to visit the Masai Mara reserve in Kenya someday and capture the wildebeest migration.”

She also has her eye on domestic bliss: “My goal is to retire in a picturesque coastal town, perhaps Simon’s Town, close to the cute African penguins.”

This would also allow her to pursue her passion for photography, she says. “I developed a love for photography from my early days of travel, finding joy in capturing beautiful landscapes, diverse cultures and candid moments.” 

Setting a goal

As a 10X client, Pilka knows all too well that achieving your dreams starts with setting a goal and designing a realistic plan to reach that goal. She has her retirement plan, which she has been saving towards since she started working. And now, thanks to her prize-winning submission, she is R10,000 closer to hitting the target.

The 29-year-old started mapping out her path to financial freedom from the beginning of her career and, even before she won the prize, she was on track to reach her savings target, which will hopefully allow her to retire when she wants to and live the retirement of her dreams.

Pilka encourages others to start early, or just get started. “If you haven't started making provisions for your retirement yet, take action now,” she says. “It is not too late." Plug some basic information about yourself into the 10X retirement saving calculator and build your own unique plan.

Some might say that Pilka had a bit of an unfair advantage having been introduced to 10X by her employer, Ascendis Health. To be fair, though, it is her engagement with the services and tools available to her that has brought her dreams within reach.

“10X has been fantastic. The low fees, the tools and calculators available online and retirement experts to chat to have all made it easier for me to plan for a comfortable retirement.”

She adds that she likes 10X’s commitment to transparency “when it comes to fees and their easy-to-interpret statements, which ensures I understand how I am tracking towards my retirement goal”.

As a Chartered Accountant, Pilka understands the power of compound growth, and is savvy about keeping costs down. These are two of the reasons she has decided to leave her prize money in the 10X unit trust fund, where she will watch it grow over the years ahead.

Working in the healthcare sector might be a reason that Pilka prioritises her health and wellbeing. Or perhaps it is just because she wants to live her best life, now and in retirement.

“I believe that it is very important to maintain a healthy lifestyle – such as eating healthy, exercising and maintaining peace of mind – to be able to realise these dreams.”

You make your own luck, as they say.

The views expressed in this interview are Pilka Lalloo’s opinion, based on her personal experience, and should not be construed as financial or tax advice. 10X is an authorized FSP

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