financial freedom
The 2023 10X Retirement Reality Report reveals that 71% of respondents are partially or strongly of the view that they will need to continue earning a living after their formal retirement date.
When leaving employment, many are tempted to cash in their pension or provident fund benefits. However, any withdrawals made from your long-term investments interrupt the process of compounding and effectively re-sets your wealth creation.
Upon marriage or entering into a long-term relationship, it is essential to reassess your life cover needs to reflect your new circumstances. If you and your spouse have acquired a home, your life cover should ideally match the value of
Avoid relying on your spouse to fund for your retirement. Investing towards a comfortable retirement requires careful planning, time, and a commitment to regular saving – and relying on one person to save sufficiently for two people’s retirement can be
A significant benefit of having a credit card is that it can be used internationally, providing travellers with a cashless option when making international transactions. However, before swiping your card abroad, make sure that you understand what international transaction fees
If you have been awarded capital as part of your divorce settlement, you’ll likely want to take steps to protect and grow this capital. If you’re awarded a portion of your spouse’s pension interest, you have the option to withdraw
Running a single-income household, single mothers know and understand the importance of careful budgeting. With only one person generating an income and managing outflows, budgeting for a single mother is easier to centralise and manage.
Avoid using your salary increase as a reason to live a more expensive lifestyle. While you may be tempted to buy a more expensive car or live a more lavish lifestyle, consider the lost opportunity costs of not investing the
Take intentional steps to ensure that you have your own financial profile independent from your spouse’s. To achieve this, ensure that you have a well-managed bank account in your own name and at least one credit facility in your name,
The wealth accumulation phase generally requires more robust and strategic financial planning as you intentionally work towards achieving financial freedom. With higher levels of income and a well-crafted financial plan, your financial goals should feel within reach, and you should
