Investing
Legislation permits that the owner of a living annuity can draw down between 2.5% and 17.5% of the value of his living annuity every year, with the option to review the draw down rate at the living annuity’s anniversary. Investors
Note that if your employer contributes to your retirement fund, their final contribution only needs to be paid by the seventh day of the following month in which you retire. Once the contribution reflects, which could take a couple of
During the course of your first meeting, your advisor should provide you with a disclosure letter that, amongst other things, sets out exactly how she will earn her fees and what you can expect in terms of costs going forward.
A single-income family naturally faces greater risk when it comes to job loss or retrenchment, and it is important to put plans in place to mitigate the risk as much as possible. An emergency fund sufficient to cover at least
Once you have converted your retirement funds into a life annuity, living annuity or a combination of the two, keep in mind that you will not be able to make lump sum withdrawals and it is, therefore, important to plan
If you intend to retire from the fund and begin drawing down from your investments, keep in mind that your options are essentially the same as when retiring from a retirement annuity in that you have the option to commute
Having a foreign executor appointed in a foreign will means that your local estate can be finalised without delays caused by obtaining recognition in a foreign jurisdiction. Further, a foreign will dealing with offshore assets will address specific requirements of
Some holiday resorts and/or complexes are very strict in terms of maintenance, upkeep and adhering to body corporate/resort specifications, so understand what you are signing up for before buying. Keep in mind that seaside homes in particular may require more
For a donation mortis causa to be effective, the donation must be in writing and must be signed by the donor, donee and two witnesses before the donor’s death. Being contingent on a future event, the donor is free to
Saving for retirement may feel like an impossibility for a single parent, especially when your children are younger and the continuous stream of expenses seems insurmountable. It may help to remind yourself that saving for retirement is a long-term process
