Retirement Planning
As your adult children become financially independent and your net wealth grows, you may find that you can reduce your life cover to a certain extent.
If you’ve previously made a soft loan to a friend or family member, you may be regretting that decision and contemplating asking for the money back.
If the body corporate needs more money, they are further entitled to raise a special levy which can be used to cover the costs of necessary expenses which cannot wait until the next financial year.
Despite the fact that you may have nominated a beneficiary (or beneficiaries) to your retirement fund, it remains the function of the trustees to allocate and apportion these funds.
The risk of one’s annuity income not keeping pace with inflation is another major risk that retirees need to contemplate, especially as medical inflation continues to outstrip consumer inflation by around 4% year-on-year.
If you have not previously withdrawn from your preservation fund, you can then exercise your right to make a full or partial withdrawal before the minimum retirement age.
As opposed to an investment in property, life rights ownership is an investment in lifestyle, security and peace-of mind, but it is important to understand the legal and financial consequences of buying into such a scheme.
Because women generally live longer than men, there is a very real chance that women will find themselves living alone for a period in their retirement, and this needs to be accounted for in one’s retirement plan.
Buying branded clothing and shoes does not guarantee a better quality product, and spending your hard-earned money to prove to others that you can afford to buy branded clothing is counter-intuitive. If you’re wearing branded clothing but haven’t started saving,
Whether it’s dumping shares, stocking-piling toilet paper or sipping bleach, greed and fear can drive seemingly rational people to make irrational decisions, especially in times of crisis.
