Planning Topics
From declines in home and vehicle ownership to global inflation and government spending, many of the trends of modern life reveal a new world that is emerging – one in which Western citizens by choice or by circumstance, increasingly do not own possessions or accumulate wealth. It’s the perfect…
Pick n Pay offers job opportunities for the disabled via its e-waste bins.Newly-designed bigger e-waste bins in selected Pick n Pay stores across Cape Town will help create meaningful employment for people with disabilities through specialised training in repairing, refurbishing, and recycling e-…
Today’s article is an extract from Chapter 10 of the book, “Pensions for Palookas 2024,” by Advocate Brett Ladouce which will be published in October, 2024.The Two Pot System, which will come into effect on September 1, 2024, will regulate access to retirement savings before the date of retirement.…
A while ago, I compared investment fees in retirement annuities, looking at their impact on a final retirement lump sum. This was prompted by the claim by Sygnia, contested by the Advertising Regulatory Board, that “you could be losing as much as 60% of your retirement savings to fees” (See “Words…
By Nicola MawsonTHERE are many misconceptions around two-pot – a new pension fund vehicle that comes into effect next week Sunday – including that it is free money that can be used to take that much longed for overseas trip.This, however, is not the case because the amount of cash that can be…
The number of working South Africans with retirement savings provision (income R8 000 – R119 000) who said they were likely to withdraw their savings has dropped significantly by 10%, from 62% in 2023 to 52% in 2024.Less than two weeks before the new two-pot retirement system launches, research…
By Kim PotgieterIt’s no secret that managing our finances has become increasingly challenging in today’s economic climate. With rising bond payments, school fees, and the ever-increasing cost of living, it can feel like we’re constantly trying to keep up. Incomes have remained stagnant while…
Don’t take your money offshore before considering the implications when it comes to the laws of overseas jurisdictions in terms of tax, ownership, and inheritance, among others.Rex Cowley, the director and co-founder of the specialist international pensions and fiduciary business Overseas Trust and…
Nonhlanhla Nxele, a beneficiary of the Old Mutual Black Distributors Trust (OMBDT), has been awarded the Financial Planning Institute’s (FPI) prestigious “It Starts With Me” award.This award recognises her outstanding contributions to the financial planning industry and her remarkable journey as a…
From false and padded claims to fraudsters swindling unsuspecting South Africans out of their vehicles, savings and personal belongings, scams have been wreaking havoc and causing a ripple effect of damage across the insurance landscape.Among the many scams occurring at the moment, insurers note an…
By Nico Theron and Hopolang MolloIncome tax season beckons and in line with what the doctor has ordered, a key consideration for individual taxpayers submitting their returns should be a prescription. Indeed, there is a three-year prescription rule.It is commonly accepted that an assessment…
Despite great strides being made towards shaping a more diverse and equitable future for the world of investment, many women still underestimate their abilities. A growing body of research, however, suggests that women’s natural traits may in fact put them at a significant advantage compared to…
Christmas might come a little early this year for financially-constrained South African consumers in the form of interest rates cut, the first one in four years, after consumer prices fell to a three-year low year on year in July.This comes as the consumer price inflation (CPI) sank below 5% in…
South African consumers continue to use loans to make ends meet as inflation’s cumulative effect together with persistently high interest rates erode their income, despite the fact that inflationary pressure somewhat was subsiding.The Debt Busters Debt Index for the second quarter of 2024 index…
By: Erica-Anne StrydomInvestment migration is a crucial strategy for high-net-worth individuals seeking to diversify their assets, reduce exposure to regional and global volatility, plan their succession, and gain citizenship or residency in a foreign country.Increased offshore exposure and the…
Life Insurer and Financial services provider Liberty has released a report, shedding light on the evolving dynamics of marriage and motherhood among South African women. As societal norms shift, this research seeks to understand the underlying factors influencing these changes and explores whether…
When one’s financial responsibilities can feel overwhelming, it may be tempting to cut corners and skimp on expenses where possible. One area where people often consider cutting their costs is short-term insurance. After all, insurance is something intangible, something you pay for but never…
Staff reporterWomen’s nurturing instincts often drive them to prioritise the needs of others over their own. This can, and often does, unintentionally hinder their success. A tendency to place others first is particularly evident among single mothers, women caring for elderly parents, and those…
Middle-class South Africans face a crisis of soaring living costs for essentials such as groceries, fuel, medicine, education, transport and electricity, while the unrelenting high interest rates mean that home and vehicle loans are drastically more expensive to service. The result is that more…
August is Women’s Month in South Africa, a time to celebrate the contributions of women across the nation. It is also an opportunity to address the challenges that many women face, including health and money concerns. One such challenge is fertility treatment, which can be a significant financial…