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Video: How we sabotage our retirement
For most of us, retirement is one of our most important goals. Putting away money for our retirement is probably the biggest investment we will make in our lifetime, yet we find so many ways to sabotage our retirement goals. The most common mistake...
GEPF revises resignation benefit
On 1 November, the Government Employees Pension Fund (GEPF) revised its actuarial factors. This will have an impact on the resignation benefit of members, in calculation of a divorce order, or for members who exit the fund with fewer than 10 years...
Listen: Six months to turn you finances around
It is possible to fix your finances in just six months. The Money Makeover Challenge has proven this over and again. The stories from the candidates who enter the Challenge are testament to the fact that financial freedom is not about miracles. It...
A guaranteed annuity can offer real value
One of the most difficult decisions for a new retiree to make is whether to use their retirement fund to buy a guaranteed annuity (also called a life annuity) or to invest in a living annuity. With a guaranteed annuity, you are unable to leave...
Video: An underwritten life policy is cheaper
If you are a generally healthy person, one of the ways to reduce the cost of life cover is to ensure that your policy is underwritten. You will know if your policy is underwritten if you were required to answer lengthy questions about your health...
Focus on preventative screening by medical schemes
Many medical schemes have boosted their benefits for 2023, including reduction in co-payments, increased access to GPs as well as a focus on preventative screening. According to Dr Ryan Noach, CEO of Discovery Health, the Covid-19 pandemic caused...
Listen: Understand your medical scheme
Belonging to a medical scheme is expensive ‒ and it becomes more expensive every year. The average family pays R6 000 or more each month for their medical scheme premium, yet Andre Jacobs, author of Medical Schemes Explained: Your Ultimate Guide to...
Gaming fraudsters might be targeting your kids
You might think that your children are simply playing an innocent game of Fortnite, but Angelique Ruzicka warns that this could expose them to gaming fraudsters keen on stealing from your family. Allowing your children to play online games behind a...
Video: What your credit score says about you
If you are planning on buying a home, the first thing you should do is go check your credit score. The purpose of your credit score is to inform prospective lenders how much of a risk you present when you apply for a loan. If a lender perceives you...
Previous Articles
Buying a home now could make sense
While the increasing interest rates will make buying a home more financially challenging, buying at the top of an interest rate cycle could be a smart move. Firstly, higher interest rates temper demand, so property prices may come down slightly. Secondly, you know...
Listen: First in your family to graduate? Here’s some advice.
Earning your first paycheque and balancing the many financial demands is challenging for any graduate. For those who are the first in their family to become a professional, there are even greater expectations and financial demands. In this podcast Maya (@mayaonmoney)...
MTBPS 2022: Key insights and takeaways
Warren Wilkinson, franchise principal & financial adviser at Consult by Momentum, breaks down the key insights and takeaways from yesterday's Medium Term Budget Policy Statement (MTBPS). Higher inflation is eroding purchasing power and has led to higher interest...
Medical scheme premium increases return
The lower-than-average medical scheme premium increases that members enjoyed in 2021 and 2022 are largely over. During the Covid-19 pandemic, medical schemes saw a decline in claims as members deferred elective procedures or were reluctant to seek medical treatment...
Video: Start that investment debit order today
Setting up a debit order so that you put away a small amount every month into an investment, is an extremely powerful tool for wealth creation. One of the most common reactions I get when it comes to investing, is that it is only for “rich” people. Yet in my many...
Stop worrying: a few reminders about investing
Debra Slabber, Portfolio Specialist Director at Morningstar Investment SA, reminds us that investing is a long-term endeavour, and you should stop worrying about what you don't ‒ and can't ‒ know. Year to date investors have been fleeing from risk assets due to a...
Death taxes and fees
Dying is an expensive business, and not only because of the cost of the funeral. There are multiple death taxes and fees that need to be paid when someone dies. If you don't plan for these, they will reduce the value of the legacy you were expecting to leave your...
Interest rate hikes: when will it end?
Aggressive interest rate hikes may have more to do with the currency than local inflation. The decision in September to increase interest rates by 75 basis points was an aggressive decision by the Monetary Policy Committee (MPC) considering the weak economy and major...
Video: Avoid family fights with a simple will
According to research by Sanlam, 75% of South Africans do not have a will. Nearly half of those who don’t have a will believe they don’t own sufficient assets to make a will worthwhile, but you'd be surprised at the family fights that can ensue over a small estate....
The GEPF formula for calculating payouts
The Government Employees Pension Fund (GEPF) is a defined benefit fund. This means the pension received by a member has nothing to do with the investment performance of the fund. A member's pension payout is determined according to the GEPF formula. GEPF members...