By Jenny Gordon, Head: Technical Advice Investments, Product and Enablement at Alexander Forbes From 1 June to 30 September 2020, retirees with a living annuity will be able to draw down between 0.5% and 20% of the asset value of their living...
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Video: When to use the budget facility on your credit card
If you are a regular watcher of Money Matters you will know that the best way to manage a credit card is to pay it off in full at the end of each month. A credit card acts as a revolving loan. If you are only paying off the minimum instalment...
Loan scheme now available for small businesses
National Treasury recently announced that it had provided a guarantee of R100bn to banks to provide additional funding for small businesses. This will be increased to R200bn if it is necessary and the Scheme is successful. “This guaranteed loan...
Listen: Getting into gold
In line with our theme on alternative asset classes, in this week’s podcast Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss investing in gold. Is gold a good investment? What role should it play in your portfolio and how do you go about...
COVID-19 covered by all medical plans
The Council for Medical Schemes has confirmed that COVID-19 falls under the prescribed minimum benefits as defined in the Medical Schemes Act. According to Neil Kirby, Director and Head of the Healthcare & Life Sciences practice at Werksmans...
Money Makeover: Lessons in planning a successful property portfolio
Like many ad-hoc property investors, Colen has largely fallen into property investment by accident, grabbing opportunities as they arose. He has built a property portfolio of five properties which has put him under financial pressure. His Money...
Video: Where to invest that extra cash
Busang wrote to say that he has no debt and R600 extra each month that he wants to start investing for the long term. He wanted to know which unit trust or exchange-traded fund would be the best option. For anyone who is starting to save or invest,...
Slumping economy, surging stock market– what’s going on?
While tens of millions of Americans were losing their jobs, the stock market in April produced its best monthly return in over 30 years. Sean Markowicz, strategist in the Research and Analytics division at Schroders, looks at what’s behind this...
Listen: Diversify your investments through cattle
Investors are increasingly looking to non-financial assets to provide further diversification. We have previously discussed Fedgroup Impact Farming, where investors can buy into farming of beehives, blueberries and even solar energy. We have also...
What to do if your debt counsellor goes AWOL
If your debt counsellor is not registered, or not contactable, or not providing you the required service, then you can transfer to another debt counsellor. All you have to do is approach a new debt counsellor and complete the application form. It...
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Active versus passive during COVID-19 market turbulence
By David Shochot, CEO: Stylo Investments Proponents of active management argue that this style of investing adds value in a bear market. They argue that with sharp market falls and with asset price volatility, the flexibility of an active manager to move in and out of...
Video: What is considered a good credit score?
Say you have been working hard at improving your credit score by settling outstanding debts and you are now paid up and you want to buy a house or a car. How long before that reflects on your credit score to the extent that you are now considered a “good risk”? We...
Premium relief on medical schemes unlikely
Don’t expect a blanket premium relief, but if you are struggling, contact your medical scheme for options. If you are struggling to meet your medical scheme contribution this month, don’t hold out for a blanket offering of a premium waiver. Medical schemes pay out on...
Listen: Investing with guarantees
With the economic fallout expected from COVID-19, investors have either seen their portfolios seriously hurt or are too afraid to enter the equity market now. Sitting in cash is an option, but what if markets recover and investors lose out on potentially higher...
How your stokvel can make you money
While you are sitting in lockdown, now may be the time to turn that WhatsApp group into a stokvel. In her book Stokvels: How they can make your money work for you, author and financial educator Palesa Lengolo writes, “I have watched how some stokvels start...
Money Makeover: Talking money so that your partner will listen
Any financial journey cannot progress unless your partner is on board. If you share a household, you share your finances. Money is a highly emotional topic; it is cited as the number one reason for divorce. So, having a relationship where you can speak openly about...
Video: Understanding loyalty programmes
75% of South Africans who earn at least R10 000 a month belong to one or more of the 100-odd loyalty programmes in South Africa. While loyalty programmes are popular, are they really working for you or just cluttering up your wallet with another card or your cellphone...
Unpacking interest rates
Last month, the South African Reserve Bank cut rates by 100 basis points and this led to many questions about the mechanism of interest rates. We unpack how interest rates work both for borrowers and savers. What is the difference between the repo rate and the prime...
Listen: Teaching your kids about money
Most parents make supreme sacrifices to provide for their children. Research shows that mothers in particular will put their children’s needs before their own. We want to offer our children the perfect world where they want for nothing, where they never feel shunned...
Free advice for distressed SMEs
Financial and strategic advisory company Fluence Capital is now offering pro-bono support and guidance for South Africans facing the potential loss of their business due to the COVID-19 shutdown. “Many companies tend to wait until the last minute to seek help when...