emergency fund
If you’ve never had a retirement plan prepared and you don’t know whether you are putting away enough for retirement, this will undoubtedly be a source of stress for you. According to the 10X Retirement Reality Report, 67% of economically
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,
As a single parent, if you are unable to generate an income, you will not have a spouse or partner whose income you can fall back on. An income protection benefit is an excellent way of ensuring that you will
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
Crafting a sold financial plan involves undertaking careful scenario planning and then putting mechanisms in place to protect yourself from possible detours. Life’s ‘detours’ include events such as retrenchment or job loss, divorce, terminal illness, significant loss or damage to
Making financial decisions when stressed, worried and fearful for the future can result in poor decision-making. Remind yourself that this crisis is temporary and, if necessary, find yourself a financial advisor who will partner with you and guide you through
If your ex-spouse has maintenance obligations towards your children, it is advisable to protect these payments by ensuring that the maintenance payer has sufficient life cover and that your minor children are named as beneficiaries.
Being a single parent comes with a unique set of challenges that are sometimes difficult for those who are co-parenting to fully understand.
Not updating your Will after your divorce can have disastrous consequences and may result your spouse unintentionally inheriting from you.
