medical aid
Look for creative ways to generate additional income. The gig economy has made it easier than ever to earn extra money through tutoring, freelance work, renting out a room, or offering pet-sitting or delivery services. Every bit of extra income
If you hold both discretionary and compulsory investments, structuring your withdrawals tax-efficiently is key to preserving your wealth. You must also manage drawdowns from your living annuity carefully to prevent premature depletion of your capital or future cashflow constraints.
The financial impact extends beyond lost income—it also includes the long-term consequences of missing career advancements, and the opportunity costs associated with stepping back from work.
We all know that children are expensive so start preparing your baby budget as soon as possible because costs add up quickly. Consider the costs involved in adapting or renovating your home to accommodate a small child. This could include
One of the most critical decisions you’ll need to make involves the money held in your employer’s pension or provident fund. If your retrenchment is due to operational requirements or your employer ceasing operations, your retirement lump sum is considered
Many retirees choose to hold on to the family home for sentimental reasons, even after their adult children have established their own households. However, if your long-term plan is to downscale to a more manageable property, it is worth considering
Paying more than the minimum required amount on your credit card and making payments before the due date can significantly reduce the interest paid over time. By doing so, you’ll pay off your balance faster and save money in the
While putting money away for your child’s education is important, do not neglect your retirement funding. Without adequate retirement funding in place, you could become a financial burden on your child later in life which should be avoided at all
In the past, severe illness cover terminated at age 65. However, most insurers now provide you with the option to select whole-of-life cover which means that your benefit continues for as long as you are alive and paying your premiums
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.
