Category: Uncategorized

Q: I have just sold my house, and have a one-year-old. I want to put a lump sum away for her education. I am 41 years old, with a smallish retirement annuity, income protector and about two months’ emergency fund. What amount would you recommend as sufficient to put away for her education? I...

Even though it is difficult to deal with the loss of a spouse or family member, it is important to understand the taxes that will be due after death. Even you, as a taxpayer, should be aware of your post-death tax obligations in order to try to avoid unnecessary tax implications. Once a taxpayer...

Discretionary funds cannot be used to purchase a living annuity, but there are other options.   Q: I’m 36 years old and would to know if it is possible for someone my age to invest in a living annuity? I lost my job in April 2021 and have a lump sum of R5 million...

When it comes to smart financial management, there’s no need to reinvent the wheel. While change is inevitable, there are some principles that have stood the test of time – and sometimes it’s worth revisiting these enduring tenets of wealth creation:   Pay yourself first: Paying yourself first is about taking steps now to...

As sole breadwinners responsible for the welfare of minor children, single mothers face a particularly daunting set of challenges when it comes to financial planning. Besides not having a partner’s income as a safety net, the emotional strain of shouldering the family’s finances alone can leave many single mothers feeling overburdened and financially strained....

The benefit of the Tax-Free Savings Account (TFSA) is best realised when staying invested for the long term, to allow for capital appreciation to take place. The tax-free interest or return earned on the investment over time can then be re-invested to get you closer to your savings goal.   TFSAs introduced to get...

The last two years have brought about a crisis for many pensioners. Some have braved the storm and others have panicked and made poor choices with their investments. We look at some of the dos and don’ts when it comes to a crisis.   Every day we are bombarded with financial risks and demands...

Upon retirement we all need peace of mind in terms of maintaining our current lifestyle, however, this calls for important decisions regarding sustaining this lifestyle post-retirement. There are several retirement products one can invest in before retirement which includes preservation funds, retirement annuities, provident and pensions. I have decided to narrow it down to...

These tips are unconventional, but they are based on common-sense principles that have been proven over a lifetime. The five top lessons include: Making money is easy Have you heard the term ‘money mindset’? When you change your mindset about how you think about money, it becomes easier to make more of it. If...

When it comes to planning an important event, checklists are a great way to ensure that you’ve taken all important factors into account. With retirement being one of life’s most significant events, those nearing retirement cannot afford to leave anything to chance – and our advice is to consider putting a retirement checklist in...