Set SMART investment goals for long term financial success
Indeed, goals are vital to leading a successful and happy life. You need to know what you want from your personal life, what you hope to achieve in your career, and how you want to experience retirement. Without goals, life can become a series of muddled events. I’m going to take it one step further […]
Proposal to increase retirement funds’ offshore allowance
National Treasury’s proposal to harmonise the offshore limit for all insurance, retirement and savings funds will enable retirement funds to invest up to 45% of their capital offshore. This includes the 10% allowance for investments into other African countries, according to the Budget Review. The proposal implies that the current Regulation 28 offshore limit of […]
Budget 2022: The Executive Summary
SA’s total tax revenue exceeded the February 2021 Budget Speech estimate by R182bn at R1.55trn. A year ago revenue had been estimated at R1.4trn, which was adjusted to R1.5trn in November’s MTBPS. Year-on-year revenue growth in revenue was 24% (2021: R1.25trn). Improved revenue is primarily due to improved commodity prices, with corporate tax receipts from mining […]
A look at young people and their attitude towards money and how to improve their finances
For many years, young people in South Africa have experienced and faced many challenges regarding them completing their education which has resulted in extreme unemployment rates and is one of the key challenges facing our society and necessitates. A recent study conducted by Momentum in partnership with UNISA, The Momentum UNISA Financial Index reveals that […]
Provident fund members face withdrawal changes on March 1
WORDS ON WEALTH: Up until now there have been two distinct types of retirement funds offered by employers to their employees: pension funds and provident funds. Many company retirement funds offer both. Traditionally, the differences between pension and provident funds were that in a provident fund your contributions were from after-tax income (in pension funds […]
South Africans continue to work in retirement
Article by Neesa Moodley – Moneyweb Nine of every 10 retirees included in Old Mutual’s survey are working to supplement retirement income. The 2019 Old Mutual Savings Monitor shows that many South Africans continue to earn some kind of income after they retire. It found that for every R100 these retirees receive, more than half […]
The roof over our heads at retirement
For most people, our home is our biggest single investment. It doesn’t only tick Maslow’s hierarchical boxes regarding our basic needs, by providing shelter and security, but also has a bearing on our psychological and self-fulfillment needs when we consider issues like size, facilities, and the ever important “Location, location, location”. Just as with our […]
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 […]
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 […]
You won’t retire financially secure if you don’t preserve
According to a recent survey, many South Africans are not prepared for the financial consequences of retirement. Although it is important to save for retirement regularly and throughout your working life, preserving your funds when changing employers should also be at the top your list of retirement-saving do’s. The 2018 Sanlam Employee Benefits Benchmark Survey […]
