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 […]

WHY HAVEN’T YOU TAKEN OUT A RETIREMENT ANNUITY?

Taxes

A question we often get asked is this: “Can I take out a retirement annuity if I already belong to a pension or provident fund?” The reason I’m bringing this up is because I’ve just read an oldish brochure from Discovery Invest. Here’s some interesting stuff you might not know: In 2011, South Africa had a population […]

TWO QUESTIONS EVERY PENSIONER ASKS

Which pays a better income when you retire – living annuity or conventional annuity? In a previous article we wrote about whether we’d recommend a living annuity to you. At the end of that article I also mentioned that I’d tell you a little on how living annuities work. Now what’s important here, is that you don’t wait […]