The secret to a successful resolution is to keep it simple and to break it down to something manageable. Financial change starts one step at a time. Instead of saying “I am going to be debt free,” rather select one debt that you are committed to...
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Does your family think your employer will provide?
Recently the MD of a small company asked me if I thought they should provide employee benefits such as life cover and retirement funding for their employees. Currently the company leaves that entirely to each employee to sort out for themselves....
Why sorting out your paperwork should be a New Year’s resolution
I often receive emails from people who are trying to locate their pension benefits from an employer several years after they have resigned, and I often wonder how people lose track of their money – that is until this week. Over the last few years I...
How to evaluate your current retirement annuity
By Tracy Jensen, Chief Product Architect at 10X Investments A retirement annuity (or RA) is a pension fund for individuals, and one of the ways to save for retirement. In principle, it is a voluntary, tax-efficient savings tool to help you achieve...
Five ways to spot a top wealth management business
By Roger Eskinazi, head of wealth management, AlphaWealth I have spent 25 years working in wealth management, many of these for some of the most reputable companies. They all claim to have the best people, a proprietary investment process,...
Investing Demystified Part 5: Implementing the Investing Demystified portfolio
Lars Kroijer, author of Investing Demystified and a former hedge fund manager, has created a five-video series to explain investing, why you can’t beat the market, and why that fact is important. So if you don’t have the time to read his 200-page...
How to select the right medical plan for your needs
If you are considering moving medical schemes or looking to take out a medical scheme plan for the first time, you need to consider the viability of the scheme as a whole and then select the plan that best suits your needs. The health of the scheme...
Spouses need to review their finances
Changes to the taxation of estates could leave a surviving spouse with a hefty tax bill. Last month the Davis Tax Committee (DTC) issued an update on its tax recommendations especially around so-called “death taxes”. Some of the key recommendations...
How the JSE has changed over time
By Geoff Blount, MD, BayHill Capital Looking at the JSE super sectors, it is extremely interesting how their contributions to the JSE Top 40 index have changed over time. In part, this reflects the changing fortunes of the sectors in the South...
An overseas trip doesn’t need to break the credit card
I recently returned from an overseas trip that I started planning nine months ahead of time. I used the time to plan, budget and make sure that when I returned from my well-deserved break that there would be no scary credit card bills to deal with....
Previous Articles
Should a wife have her own financial adviser?
Last month I spoke at a women’s day event held by Alexander Forbes about the importance of women, especially married women, having their own financial affairs in order. The most interesting part for me was speaking to the many women after the event who came to share...
10X wants to #StopDaylightRobbery
10X Investments kicked off its campaign to #StopDaylightRobbery by causing quite a stir at Nelson Mandela Square, Sandton. Shoppers and lunch-time restaurant goers were greeted by the sight of a life-sized household scene, complete with furniture, appliances and even...
Are you prepared to pay for advice?
There has been a lot of talk about the Retail Distribution Review (RDR) which aims to provide transparency around financial advice and products, but how do customers really feel about it? At a roundtable discussion on RDR hosted recently by Liberty, Johan Minnie, head...
Should you switch credit cards?
The new maximum interest rates do not apply to existing credit cards In May 2016, amendments to the National Credit Act came into effect which set new maximum interest rates which can be charged on a loan based on the repo rate. In many cases this has reduced the...
Don’t use your tax-free savings account for emergency savings
Research finds that the tax-free savings account is still misunderstood. If there’s one thing the financial industry is good at, it is complicating things that should be fairly simple. Tax-free savings accounts (TFSAs) were meant to be really simple long-term savings...
The importance of finding the right financial adviser
You don’t have to have a lot of money to invest in order to work with a financial planner. With changes to the way financial advisers are remunerated, some industry commentators believed that it would negatively affect younger investors who do not have large amounts...
The truth about debt review
Debt review is not as simple as handing over your bills to a debt counsellor – you have to keep track of your credit provider statements Three years ago Linda (not her real name) and her husband went under debt review. Like so many young couples, the allure of easy...
Are you man enough to share your income?
Money is a big issue for many couples, so much so that it is the main cause of divorce. Yet finding an equitable way to manage the household finances is a bit like finding the holy grail. The main issues for couples around money are: a discrepancy in the amount each...
It’s almost time for Financial Planning Week
The financial services industry prepares to empower consumers through its annual Financial Planning Week initiative. The Financial services industry, led by the Financial Planning Institute (FPI), will once again be embarking on its annual Financial Planning Week...
What your retirement fund value really means
It’s about the income, not the lump sum. I recently received an email from a reader who had taken early retirement and was concerned that the value of his final pension benefit was significantly lower than the amount indicated in his benefit statement six months...