Lifestyle Financial Planning
It’s been a rough year for everyone and it’s easy to convince yourself that you need spoiling. The reality, however, is that most South Africans are Covid-fatigued but now is not the time to make rash, emotional purchases in an
A revocation clause is a paragraph inserted in your Will which revokes all other Wills that you have ever drafted and declares the current Will to be your Last Will and Testament. Although a testator is not legally required to
For freelance workers who have multiple jobs or contracts in place, managing the various income streams can be complex especially where payment is erratic, or where companies make short or late payments. Freelance workers may find themselves overloaded with admin
Once you and employer have come to agreement on your severance benefit, keep in mind that the Income Tax Act allows more favourable tax treatment of these benefits. The first R500 000 of your severance pay, being a combination of
Interests rates are currently very low which could give you a false sense of security when it comes to repaying your home loan, car or credit card. However, interest rates are not likely to stay low this way indefinitely so
From a tax perspective, while the contributions paid towards your income protection policy are no longer a tax-deductible expense, the income paid from your policy should you qualify for a claim are free from tax.
As much as your financial plan should focus on building wealth, it also needs to include an estate plan that makes provision for the distribution of your wealth should you die, keeping in mind that tragedy can strike at any
Don’t hesitate to have those difficult financial conversations early on in your marriage. Is there a financial demanding ex-spouse or child that is causing tension in your relationship? What happens if you need to provide financial assistance to your elderly
Estate planning is an important exercise for coupled married with the accrual system to undertake to ensure that each spouse is adequately provided for in the event of tragedy. The accrual comes into effect when one spouse passes away which
Talking to family, friends and colleagues about your personal finances should really only be done with your partner’s consent. Finances are highly personal, and it is only understandable that a partner would feel aggrieved if the other partner discusses your
