Technology in general, and AI in particular, is moving ahead at breakneck speed. We need to make sure we are on the train, not hit by it. I recently attended the SingularityU South Africa summit, sponsored by Old Mutual. Listening to speakers like...
In January this year, Larry Fink, the CEO of BlackRock, said that “the next step going forward will be the tokenisation of financial assets, and that means every stock, every bond … will be on one general ledger.” Last month, crypto asset exchange...
Over the last few years credit scores have become big business. Banks now have customers’ credit scores accessible on their banking apps, and they actively encourage customers to check their scores. There has also been a proliferation of credit...
The recent rate cut provides a great opportunity for you to make a dent in your mortgage. When the Monetary Policy Committee recently voted to cut interest rates by 25 basis points, many households – especially those with mortgages and car finance...
The sheer number of savings pot withdrawal applications by GEPF members has caused some technical glitches, but these are being dealt with and the speed of payouts should start improving soon. As at Friday 4 October, the GEPF had received 252 592...
Advance payments on car finance can be confusing, as different finance houses may have different ways of treating these advance payments. Any debt that you pay off sooner than required will save you money on interest. However, you need to...
The Government Employees Pension Fund (GEPF) has confirmed that it will start processing payments for those members who have made applications to withdraw from their savings pot as part of the implementation of the new two-pot retirement system....
Despite all of the articles written explaining the new two-pot retirement system, there still seem to be some common misunderstandings around the system. Confusion on how much you can withdraw each year Many people confuse the R30 000 limit on the...
September is Wills Month, a Capital Legacy initiative inspired by National Wills Week, aiming to help more South Africans get their wills drafted at no cost. Having a valid will is essential, but many of us delay it due to time constraints. Did you...
In the ever-evolving landscape of life insurance, Discovery Life uses a shared value insurance model to incentivise healthy living. In the latest episode of “Life Behind the Numbers”, a Discovery Life podcast series, I sit down with Gareth...
There are several reasons why your personal inflation rate probably doesn't match the consumer price index, which is the "official" inflation rate. When the official inflation figures for June were released by Statistics South Africa (Stats SA), they showed that the...
Earned wage access is the concept that workers should be able to access a portion of their monthly salary before payday. Is it a good idea? What do you do if you have an unexpected expense during the month or find yourself a bit squeezed? In a perfect world you would...
Absa has launched its Ultimate Banking proposition as a one-stop banking solution for its customers, at an attractive monthly fee. Absa customers currently using a Gold transactional account should consider switching to Absa’s recently launched Ultimate account. The...
Anyone who intends to withdraw from the savings pot of the two-pot retirement system from 1 September 2024 must be registered for tax. Those who are not registered must register before they apply to their relevant fund. If a person is not registered for tax, the...
My biggest debit order after my mortgage, is for life cover. It’s a crucial part of my financial plan. In this sixth episode of the Santam Insure your Future Money Bootcamp, I’m joined by Mapalo Makhu and Johann Steyn, a certified financial planner at Rainmaker...
Ahead of the implementation of the two-pot retirement system on 1 September, many people are surprised to discover how much tax they will pay on any withdrawal of funds from their new savings pot. Many are planning on withdrawing the once-off seeding capital that will...
This is the final video in a four-part educational series on the two-pot retirement system for GEPF members. Watch the first video here, the second video here, and the third video here. This video looks at the benefits you will get at retirement, and how withdrawing...
In the latest episode of “Life Behind the Numbers”, a Discovery Life podcast series, I am joined by Discovery Life Deputy Chief Executive Gareth Friedlander and Chief Medical Officer Dr Maritha van der Walt, to discuss the significant impact that health screenings...
Optimism for rate cuts varies between banks, but don’t expect a rate cut windfall. The aggressive rate increases since November 2021 have brought significant financial stress to consumers, especially those with large asset-based loans such as mortgages and car...
This is the third video in a four-part educational series on the two-pot retirement system for GEPF members. Watch the first video here and the second video here. This video and article look at things to consider before you withdraw your pension savings under the new...