financial plan
Saving for retirement may feel like an impossibility for a single parent, especially when your children are younger and the continuous stream of expenses seems insurmountable. It may help to remind yourself that saving for retirement is a long-term process
Portfolio management and the selection of underlying investments is a uniquely specialist field that requires an enormous amount of investment capability, research and skill. Rather than adopting a single manager approach, investigate the possibility of appointing a multi-manager to manage
Your future self will thank you for beginning your investment journey early in your career even if your retirement plans are unclear. The most tax-efficient way to achieve this is by investing towards an approved retirement fund and claiming the
Despite what many investors believe, there is no correlation between investment fees and returns, so don’t fall into the trap of thinking that by paying more, you’re guaranteed higher rates of return.
Once you’ve maximised your retirement fund contributions, consider enhancing your long-term savings by investing through a tax-free savings account (TFSA). Or, if you already have a TFSA in place, consider maximising your annual allowable contributions.
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
Tax-free savings accounts can take the form of money market or fixed-term bank accounts, a unit trust investment or a JSE-listed exchange-traded fund, and can be issued by banks, long-term insurers, unit trust managers, mutual banks, or cooperative banks.
A power of attorney is a formal document by which a person (the principal) authorises another (the agent) to conclude juristic acts on his behalf. By signing a power of attorney, the principal indicates to third parties that he will
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
