Lifestyle Financial Planning
The emotional impact of adult children emigrating from South Africa was brought starkly into the spotlight during last year’s hard lockdown where the plight of many isolated and lonely old people confined to retirement homes was noted. Many older people
Where the older spouse chooses to retire while the other spouse continues working, the couple will need to contemplate how to replace the lost income of the retired spouse without jeopardising their retirement capital. If the couple starts drawing down
From an income tax perspective, as a South African resident, you will have to pay tax on the interest and dividends earned on your foreign-domiciled investments. This is because South Africa uses a residency-based system to calculate tax, and South
Start your career the right way: by spending less than you earn and saving the rest. Before your first pay cheque lands in your account, prepare a budget taking into account any new line items as a result of your
In terms of the Mental Health Care Act, a ‘mental illness’ is defined as a positive diagnosis of a mental health related illness in terms of accepted diagnostic criteria made by a mental health care practitioner authorised to make such
The term ‘gifting circle’ is problematic and misleading because there is essentially no gift involved. The ‘gift’ is in reality an entrance fee which is paid to the member at the highest level or inner rung as a return on
If you intend becoming a stay-at-home spouse, think carefully about the consequences of losing your financial freedom at such a young age. Not only can not generating an income shift the dynamics of your relationship, it can also create feelings
Through indirect offshore investing, you effectively invest in a local unit trust portfolio that has a mandate to invest in foreign assets – a relatively simple, convenient, and cost-effective process. As an investor, you will invest your Rands with a
You are not able to appoint beneficiaries to your unit trust investments as, in the event of your death, the proceeds will fall within your estate and will be distributed in accordance with your wishes. Keep in mind that the
If you are awarded a share in your spouse’s pension interest as part of your divorce settlement, it is imperative to get sound financial advice in this regard. There are a number of options available to you, all of which
