gap cover
If you intend becoming a stay-at-home spouse, think carefully about the consequences of losing your financial freedom at such a young age. Not only can not generating an income shift the dynamics of your relationship, it can also create feelings
Your severance package is separate from your retrenchment benefit (retirement fund benefits) and includes the one week’s pay for every year worked and all other monies owing by your employer as a consequence of your employment. From a tax perspective,
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
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
Don’t hesitate to have those difficult financial conversations early on in your marriage. Is there a financial demanding ex-spouse or child that is causing tension in your relationship? What happens if you need to provide financial assistance to your elderly
While you can only add your new baby to your medical aid and gap cover after the birth, do your medical aid and gap cover investigations now so that you are ready to add your child as a dependant straight
Many retirees hold onto the family home for sentimental reasons only to find themselves burdened with a large property, costly maintenance and upkeep which makes them feel overwhelmed, and an illiquid, risky asset. Moving home is always stressful, but particularly
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.
If a couple is living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
