medical aid
Taxpayers are afforded several ways to reduce their tax liabilities, and it is advisable to employ these mechanisms to your benefit. Leaving ‘free money’ on the table doesn’t make financial sense so be sure that tax planning forms part of
Single retirees also present a special set of estate planning requirements which retired couples do not face, specifically when it comes to distributing their wealth after death. While most couples tend to bequeath their respective estates to each other, single
As soon as you can, start putting money aside into a baby fund that is earmarked for costs such as baby, clothes, prams, car seats, nappies, formula and toiletries. Use a savings account, money market or fixed deposit to house
An application for interim maintenance can be brought quickly and cost-effectively so as to provide a spouse with financial relief pending the finalisation of the divorce. The spouse bringing the application must provide proof that she does not have sufficient
In the ‘Profile of older persons in SA’ prepared by Stats SA it was estimated that around 38% of South Africans over the age of 60 use chronic medication, around 20% use assistive devices such as spectacles, 10% wear hearing
Make funding for your own retirement a priority and resist the temptation to dip into your own savings. Don’t leave free money on the table by failing to use tax-efficient retirement funding vehicles. Before helping others and to ensure that
Income protection is a form of long-term insurance which is designed to replace your income if an illness or disability renders you unable to earn your income either temporarily or permanently. While many consider this type of cover to be
To ensure that any funds or assets intended for your minor children are not transferred to the Guardian’s Fund for administration, you can use your Will to set up a testamentary trust. This type of trust is automatically founded on
or many retirees, having companion animals is important to them and, thankfully, many modern retirement homes are making allowances for retirees to keep small pets such as cats and dogs. Pet food, vet care, medication, medical treatment and pet accessories
Ideally, avoid using rules of thumb when determining your post-retirement income needs, and consider your actual situation. Firstly, make a list of those expenses that are likely to fall away when you retire, such as bond and car repayments, long-term
