financial independence
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.
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
Be sure that you are adequately protected against the risk of ill health or disability by putting appropriate disability and dread disease cover in place. If you enjoy group risk cover through your employment, be sure to understand what life
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,
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
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
Using debt to buy an appreciating asset such as a house or a business is sensible because your debt will reduce while the value of your asset rises over time.
It is never ideal to become financially dependent on someone else or to rely on another person to fund for your financial future, even if you believe that you and your partner or spouse have committed to being together forever.
When it comes to money, controlling your emotions is more than just resisting the need for instant gratification. Making good economic decisions is highly dependent on us being able to control our emotions, including the psychological and cognitive biases that
