Retirement Planning
Depending on the terms of the divorce order, you may need to move off your ex-spouse’s medical aid and register as the principal member of your own medical aid. This may be a good time to completely reassess your healthcare
It’s vital that you and your spouse set out clear guidelines for how the household finances will be managed. In the absence of an income of your own, you will be largely dependent on your spouse for money, so be
It is estimated that in the last five years of life, total healthcare spend for dementia patients is almost 60% greater than the costs associated with death from other diseases, including cancer and heart disease – although keep in mind
When retiring from a retirement fund, investors are required to use at least two-thirds of the fund proceeds to purchase an annuity. There are many factors that need to be taken into account when choosing the most appropriate annuity for
A civil marriage in terms of the Marriage Act of 1961 can only be entered into between a man and a woman and is the most common form of marriage in South Africa. When entering into a civil marriage, in
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.
Before retiring, it is important to carefully assess your capital needs – both at the point of retirement and into the future. Remember, you are not permitted to make lump sum withdrawals from a life annuity or living annuity, so
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
