DON’T MAKE THESE 4 MISTAKES AT RETIREMENT

Make one of these mistakes and we can tell you your fortune I’m about to meet with Gavin who’s retiring from the company he works for. I’ve fought through Monday morning traffic to get here. Luckily, I’m 15 minutes early so I spend it studying the people who work here. All around people are rushing […]

ONE ADVANTAGE OF OWNING A RETIREMENT ANNUITY

There’s very little an individual can claim from tax nowadays! So what can you claim from tax? In no particular order and depending on the type of income you receive: • Contributions to a pension or provident fund • Contributions to a retirement annuity • Donations to approved public benefit organisations • Legal expenses relating […]

CAN YOU AFFORD PRIVATE SCHOOLS?

Ever Wondered How Life Would Have Turned Out If You Studied Further?

I can remember my dad telling me to study so I didn’t end up working in a factory like him. Now there’s nothing wrong with working in a factory, but who still wants to do that at 65? I also remember plain as daylight, telling him I didn’t need the education because I was “going […]

WILL YOU BE 50% RICHER OR POORER IN 5 YEARS TIME – TAKE A GUESS

The Rule Of 72

How many years you reckon it would take to double your investment? Look no further than the rule of 72. Let’s say for argument’s sake, you invest R10, 000 at 8% per annum in a fixed term deposit at your bank. But you want to cash it in once your R10, 000 turns into R20, […]

TAX-FREE SAVINGS ACCOUNTS – CLEARING UP ANY CONFUSION

Did you know it’s possible to invest too much into a Tax-Free Savings Account?

A couple of weeks ago we wrote an article on the Old Mutual Tax-Free plan. In that article we recommended you speak to an Old Mutual advisor before investing. We received a lot of feedback from our readers especially around the annual and lifetime limits. We decided to do a second article clarifying this. But […]

TAX-FREE PLAN – FOLLOW THESE RULES

Old Mutual Tax Free Plan from R170 per month

Is there any type of investment – with tax benefits similar to a retirement annuity – which allows you to cash in whenever you want?   A retirement annuity has always been the preferred way to get something back from the taxman. It still is…if you earn enough to have a tax problem. But one […]

RETIREMENT ANNUITY OR TAX-FREE SAVINGS ACCOUNT

PART THREE: Which has the advantage at death and retirement?

Tax-Free Savings Account

 What would the average South African prefer doing – Saving for a rainy day or splashing out on a new smartphone? Buying the smartphone, of course. What did you think? So can you imagine the dilemma facing government when it came to encouraging people to save? “How are we going to encourage the man in the street […]

WILL YOUR RETIREMENT BE THIS SCARY?

Time to Save

Ever wondered how you would live if you lost your job? How would you pay the rent, the food, school fees? Scary, right? But guess what’s even scarier? I’m about to take you into the life of a pensioner. Someone without the possibility of ever finding another job. Someone who depends on whatever he has saved up in […]