Investing
Remember, retirement annuities are government-incentivised funding structures, are designed to encourage individuals to save for retirement and, in doing so, alleviate the burden of the state. As a result, retirement annuity benefits must be distributed amongst one’s financial dependants in
With July being National Savings Month, now is a good time to review your various savings accounts. If you’re contributing towards a tax-free savings account, check your contributions and make sure that they fall within the annual limit of R36
Differing value systems when it comes to money can create enormous tension in your relationship, especially when children enter the mix. In preparing for marriage, use probing questions to explore your partner’s financial value system. What does financial freedom look
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
Endowments also offer tax benefits to investors with a marginal tax rate of more than 30% as it will reduce the tax payable on investment growth. However, it is important to bear in mind that endowments have restricted investment terms
Once you have a living annuity in place, you are permitted to make additional contributions towards your investment provided that the funds are from an approved retirement fund. For instance, if you later decide to retire from a retirement annuity,
Putting enough money away for a comfortable retirement is a daunting task and, while we all know that starting early is critical, the numbers are alarming. Statistics from the 2021 10X South African Retirement Reality Report which has just been
Don’t fall into the trap of assuming that the Consumer Protection Act affords you blanket protection when it comes to buying property. In reality, this piece of legislation only comes into play if the seller regularly sells property or markets
Most importantly, it is absolutely essential that the non-earning spouse remains actively involved in both the day-to-day management of the household finances as well as the longer-term planning. Not having a firm grip on your joint financial plan can leave
The transition from full-time work or employment to full-time retirement is a notoriously difficult one, with boredom, lack of fulfillment, and depression being common amongst retirees. Be realistic about what a ‘day in the life’ of your retirement will look
