5 smart money strategies for South African seniors

As South Africa celebrates the International Day of Older Persons (IDOP) this October, it’s clear that retirement is no longer the final curtain but the start of a powerful second act. With rising living costs, longer life expectancy, and evolving career paths, many South Africans are embracing what’s known as “unretirement,” a phase where individuals over 60 continue to earn, contribute, and shape their futures with purpose.

According to recent FNB insights, nearly nine in 10 South Africans under 60 plan to keep working in some capacity beyond traditional retirement. And for good reason: Stats SA’s 2025 mid-year estimates show life expectancy has increased to 64 years for men and 69 for women, 12 years more than at the start of the century, proof that older South Africans are not just living longer, but doing so actively and ambitiously.

Working retirees are on the rise and are important participants in the economy. The working retiree has decades of experience, which is their strongest asset. This group isn’t retreating; they’re still earning, building, and mentoring the next generation at home and in the workplace, while still contributing to economic growth.

Working retirees need to seize the opportunity in this new chapter to live out the theme of this year’s theme for IDOP - Older Persons Driving Local and Global Action.

 If you’re still earning, this new season is an opportunity to be more strategic about your money. Many people of retirement age no longer have to worry about paying school fees or supporting children, but are still faced with ongoing living costs, so it pays to be savvy about money management.  Whether you’re powering a passion project, covering household costs, or investing in your legacy, here are five smart money moves for older South Africans who are far from finished.

 Know the why behind the buy

Before taking on any financial product, loan, credit, or investment, be clear about your reason. Are you upgrading your home, helping a grandchild with a school trip, or paying for a medical expense? A defined purpose gives every rand direction and makes sure credit is a stepping stone, not a stumbling block.

 Leverage your financial history

You’ve got decades of experience managing money, capitalise on that and use it! Take stock of your income (pension, side gig, rental, etc.), monthly expenses, and existing savings. This isn't just budgeting, it’s building a case for your financial credibility, whether for your own peace of mind or when speaking to a lender. A clean financial track record shows lenders you’re a low-risk, high-trust customer.

Choose the right tool and match the product to the plan

From microloans for short-term needs to structured loans for renovations, the right financial tool saves time, money, and stress. Understand the terms, repayment schedule, and total cost before signing anything. Remember that not all credit is bad, and regulated credit can be a powerful enabler.

Build your safety net and be ready for the unexpected

Even the best-laid plans can hit a bump: a medical bill, burst geyser, or family emergency. If possible, create a small emergency fund or keep a line of credit open with a trusted, regulated provider. Being financially prepared reduces stress and increases confidence. Life expectancy is rising, and longer lives mean more opportunities but also more curveballs. Preparation is peace of mind.

Partner with respect: Work with ethical, registered lenders

Avoid unregulated mashonisas or shady online lenders. These exploitative setups often trap borrowers with high interest rates, hidden fees, and unethical practices. Always check if your lender is registered with the National Credit Regulator (NCR). A regulated microlender must be transparent, fair, and compliant with the National Credit Act.

* Brett Caminsky is the director at Atlas Finance.

PERSONAL FINANCE