Lifestyle Financial Planning
The tax benefits achieved by investing in a Tax-Free Savings Account are not realised early on which means that TFSAs do not make good emergency funds. The value of the tax benefit in the first five years is incredibly small,
On the downside, investing in a Regulation 28 compliant fund means that 70% of your assets must be invested in South African assets which, given the rate at which the number of listed companies on the JSE has shrunk over
Cashflow and liquidity are also important considerations when setting up an RA, keeping in mind that the funds housed in a retirement annuity may not be accessed before you reach age 55 – subject to a few exceptions. There is,
A multi-manager researches and analyses the funds offered by various asset managers and builds a portfolio from these funds in line with a specific investment objective. The multi-manager will invest in specialist portfolios managed by carefully selected managers, following specific
Being legally married in South Africa creates what is referred to as a reciprocal duty of support which means that each spouse owes to the other a reciprocal duty to provide for the other which can include accommodation, clothing, food,
If you set up as a sole proprietor, it is important to keep in mind that you have unlimited liability as the owner. Because you and your business are one and the same person, you will be legally liable for
It is up to the shareholders to decide what type of events would trigger a sale of shares. Generally speaking, buy & sell cover is taken out in the event of the death or disability of a shareholder. However, depending
A family trust is generally set up as a living trust to house and protect assets for the benefit of family members across multiple generations. As such, the trustees of family trusts are family members, as are the beneficiaries. It
If you have minor children and are the first-dying parent, the surviving parent will be the legal guardian to your children. In the absence of a living guardian, the Master will appoint a guardian for your children after taking into
To buffer against the risk of an early death, a guaranteed period life annuity provides for a pre-determined period (e.g. ten years) during which the insurer is obliged to continue paying the pensioner’s annuity income even if the pensioner dies
