The Financial Services Board has confirmed that Profit Trading, which continues to operate, never placed any trades. Since publishing a reader’s complaint about forex trading platform Profit Trading, City Press has been receiving complaints from...
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How much do you need to retire?
At a recent investor roadshow, Richard Carter, head of product development at Allan Gray, provided some figures to illustrate how much you should already have saved for retirement, based on your current age. Carter worked on the assumption that to...
General Motors exits South Africa – now what?
How will General Motors’ departure from South Africa affect those motorists who have bought or are considering buying Chevrolet, Isuzu and Opel vehicles? General Motors (GM) has decided to exit the South African market by the end of 2017. This...
Reader falls victim to Profit Trading forex scheme
Des wrote to City Press after being defrauded by forex trading company Profit Trading, a business that claimed to invest clients’ money into an automated forex trading system. “I am one of those investors who had taken every little cent I had and...
FNB launches new products as part of price review
Last week FNB released its price review for the next year (effective July 1st), with a few tweaks and changes, and two new product offerings. Banking for kids and students FNB has rebranded its youth offering with the launch of FNBy, which I must...
Stash: save as you spend
The no-paperwork, no-sacrifice, no-fee tax-free savings account It’s not often that I’m seriously impressed by a new investment product, particularly when it comes to those offered by large insurance companies. But Liberty gets ten out of ten in my...
How to avoid being turned down for a home loan
When you apply for a home loan, lenders will look at many factors before deciding whether to approve your application or not – and if you don’t “pass the test” for any one of these, they are quite likely to turn you down. “This is why it is so...
Possible wealth tax
By Hilary Dudley, Managing Director of Citadel Fiduciary Proprietary Limited On 25 April 2017 the Davis Tax Committee (DTC) released a media statement calling for written submissions on the possible introduction of wealth taxes in South Africa....
The true cost of your DSTV subscription
When actuary Vinesh Maharaj was considering whether or not to change his DSTV subscription, he did what all maths nerds do – he drew up a spreadsheet to see how much DSTV would cost him over the next 40 years. He assumed an annual 8% price...
Tips for successful ‘semigration’
Making the move to the coast? Here’s how to lose less in an expensive transition. Many Gautengers dream of leaving their busy life in the big smoke and setting up a new, slower life in beautiful Cape Town. Unfortunately a lot of these dreams never...
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Car hire: the devil is in the detail
It may be tempting to take the keys of your hire car and drive off so that you can finally enjoy your holiday destination with your family. After all, you’ve waited a long time for this break and with all the political turmoil and work commitments bogging you down,...
Understand the implications when drawing from your home loan
If you want to draw down on the equity built up in your property, you may be in for a nasty surprise. Paragon Lending Solutions recently issued a press release warning investors and small business owners that if they try and access additional capital through their...
The changing nature of the JSE
The following infographic, courtesy of Bayhill Capital, shows how the composition of the JSE has changed over the last four decades, as the industrial and technology sectors have grown.
To Airbnb or not to Airbnb?
According to a 2016 Fin24 interview with Nicola D’Elia, managing director for Airbnb Africa and Middle East, South African Airbnb hosts earn on average R28 000 a month by making their property available for short-term let via the popular sharing economy website....
Why the cost of university may not be the greatest hurdle to getting an education
Is financial education more important than free education? According to figures published by the Consumer Credit Panel in the USA, a student who leaves college with a $100 000 student loan is twice as likely to repay that debt than a student who leaves with less than...
Using a trust to create intergenerational wealth
Most parents want their children to be financially secure and to live better lives than they were able to ‒ lives without financial stress. Parents also want to be able to leave their children a financial legacy that will provide for intergenerational wealth. This...
Is SA really “junk”?
By George Herman, Citadel Director and Chief Investment Officer Bloomberg news agency recently published an article stating that South African bonds were now seemingly “junk” – a word which is loaded with negative sentiments. In turbulent times such as these, it is...
Stress is making us sick
The uncertainty in South Africa is taking its toll on our bodies, and possibly our insurance premiums. Over the last year, long-term insurers have experienced higher-than-expected claims ratios, especially when it comes to stress-related illnesses and death. Henk...
The 10 key themes investors must not ignore in 2017
By Marianna Georgakopoulou, Head of Asset Allocation at Ashburton Investments Global macro indicators are currently strong, with a clear cyclical recovery underway in most regions of the world. In particular, industrial and consumer survey data in the US are...
Surviving market turmoil
In recent weeks, investors have been on a President Zuma-fuelled rollercoaster ride as market valuations and currencies reacted to the political and economic fallout of the Cabinet reshuffle. Everyone is trying to figure out what this means for the markets, but this...