What’s Cooking with the Three-Pot System?
And now there are three If the draft bills are approved, from March 2024 members’ retirement funding will be split into three pots. Namely: The vested pot (amounts accumulated before 29 February 2024) The savings pot (the 1/3 of contributions that is accessible to members) The retirement pot (the 2/3 of contributions that must be preserved until retirement). The […]
Make Sure Your Family is Financially Prepared for When You Pass Away
“Death is the penalty we all pay for the privilege of life.” (Robert Half) We know we can’t escape death. But most of us still do everything we can to ignore or avoid it. The problem is that if we don’t acknowledge our own mortality, we won’t prepare for it. And, unfortunately, that can have […]
Five Reasons why a Financial Windfall Must be Managed Carefully
Receiving something like a substantial inheritance or the proceeds from a sale of a business can be thrilling. However, it is also often problematic, both because of how we deal with it and how it affects those around us. Psychologist Stephen Goldbart even coined the term “Sudden Wealth Syndrome” to describe the extreme stress that […]
How to Take Advantage of the Donations Tax Allowance
“We make a living by what we get, but we make a life by what we give.” (Winston Churchill) Donations tax 101 Put simply; you can donate an amount of up to R100 000 per year to any third party, like a child or a grandchild, without having to pay donations tax. For example, you could give […]
