Once you opt to retire from a retirement savings product, two-thirds of your funds need to be invested into a living or life annuity. If you have reached retirement (55), the time to draw an income from your retirement savings is now. People who have retired have two options, to purchase either a life...
Tag: shariah-compliant
Tame your finances to regain control of your money
Credit, in conjunction with bad spending habits, often leave many South Africans living from payday to payday. However, it is never too late to take control of your finances and free yourself from bad spending habits. Recent surveys conducted by Debt Rescue, indicate that 85% of South Africans need help, financially and emotionally as...
What is the best way to spend my tax refund?
Consumer profile: Khalid is a contractor and a single male in his mid-30’s. Each year, he receives a SARS refund, primarily driven by retirement annuity (RA) contributions and other items which he can claim based on his line of work. For illustrative purposes, let’s assume an annual pre-tax income of R1 Million and that,...
Insights on how women invest – products & myth busters
“Women must empower themselves by being ahead of the curve as society catches up.” Much focus has been afforded of late, to the rise of female wealth with frequent discussions on all mediums and platforms on the subject. As such, the contents of this article aims to identify the changes, trends and myth busters...