Preserving your Financial Plan by not overspending in December
Many people stand to receive a bonus at the end of the year. Whilst these bonuses may be dependent on different criteria, it is often the equivalent of one month’s salary or even a little more in real terms as some companies deduct progressive tax throughout the year. However, very few of us get to […]
What to consider and what to look out for at Resignation ?
1. Preservation of retirement savings A tax-free transfer from the Pension Fund to a Preservation Fund. You choose the underlying fund in which units will be purchased and you can change the fund in future. You are allowed one withdrawal, subject to tax, before the minimum retirement age (typically 55). Pros: No tax at transfer […]
What to consider and what to look out for at retirement ?
Income from annuities will be taxable. SARS allows for a maximum lump sum of one third (1/3) of your retirement savings value ate retirement. The first R 500 000 is tax free, therefore tax is applied according to SARS retirement tax table (see tax table below). This benefit is available only once in your lifetime. […]
The sandwich generation
What is it? The term nuclear families refer to two generations living under one roof, while the term sandwich generation refer to persons who are caring (emotionally, physically and / or financially) for their ageing parents as well as their own children. The generation in the middle is sandwiched between their parents and their children. […]
Have I saved enough?
You require at least savings of 17 times your final annual salary to earn an income of 75% of your last pay cheque, escalating at inflation annually, for a period of 30 years. To break this down and to track your progress you’ll need to meet the following savings milestones: 2 times your annual income […]
How to cope with the cost of surviving cancer
Article by FA News ~ 17 October 2018 ~ Old Mutual Critical illness cover provides necessary financial support Globally, more people are surviving cancer than ever before. Speaking in light of Global Breast Cancer Awareness month in October, Jaco Gouws, Protection Product Head at Old Mutual, says that the fear around cancer diagnosis is slowly […]
Why you need financial expertise during an economic downturn.
Article from Business Day ~ Sponsored by the Liberty group ~ 15 OCTOBER 2018 – 14:59 With the economy struggling and the cost of living constantly increasing, consumers are facing a tough time. Following gross domestic product growth of -2.6%, the South African economy dipped into a technical recession, adding even more pressure on already […]
Ultima – FPI Approved Professional Practice ™
ULTIMA AWARDED FPI APPROVED PROFESSIONAL PRACTICE™ STATUS We have great news! – Ultima has officially been accredited by the Financial Planning Institute of Southern Africa, “the FPI” as an FPI Approved Professional Practice™! We are so proud of this achievement and take great excitement to have reached this milestone in our journey. As a team, […]
Structuring of retirement income
Most people (at least when they reach the age of 45 or older) start thinking about retirement and the possibility of receiving a nice sustainable income in retirement. For this to happen people need to start planning well ahead of retirement. As a lot of people still belong to company funded pension or provident funds, […]
Retirement. What does it mean to you?
So many people view retirement as the final step on the journey of life and it is so not the case today. We need to view the next segment of our life with energy and vigor. People with a positive outlook to life are expected to live an extra 7.5 years but sadly some people […]
