retirement fund
Trying to guess how long you will live is a dangerous game to play when developing your retirement plan, and our advice is to develop a range of retirement scenarios using varying longevity assumptions so that you have a clear
As an individual investor, you are free to construct a portfolio that is fully customised to your needs although you will be limited by the provisions of Regulation 28 as mentioned above. This piece of legislation is designed to protect
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.
Except in the case of ill-health or emigration, investors can only retire from a retirement annuity from age 55 onwards, although they are entitled to stop contributing towards their RA at any stage without fear of early termination fees or
Unless otherwise agreed upon, keep your joint financial affairs private and work hard to protect that privacy. Discussing your financial affairs with friends and family may be perceived as an open invitation for them to become involved in your finances,
One of the most significant advantages of a preservation fund is that you are permitted to make one full or partial withdrawal from the fund before age 55. If there is a likelihood that you may need access to your
While the general view is that trust property does not form part of the spouse’s estate for the purposes of determining the value of a divorce order, there are circumstances in which the courts will look through the veneer of
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
Upon the death of the member, the RA fund trustees are required to undertake an investigation to identify the dependants and nominees of the deceased, decide on an equitable distribution amongst those identified, and determine how the payment should be
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
