When it comes to investing and financial planning, women have a unique set of circumstances and issues, such as longevity and maternity leave, which they need to take into account. Living longer on less In May this year, Statistics SA revealed that...
Sibusiso wants to know if he can cash in his retirement annuity in order to keep up with his mortgage payments. “I am 32 years old and have been unemployed since March 2012 and living off my provident fund since then. In January 2013 I had to make...
More than three million South Africans are owed more than R45 billion in unpaid benefits from retirement funds they have left already, according to unclaimedbenefits.co.za. In many cases when leaving a company, employees may not be aware of funds...
Nelson wants to cash in his pension in the hope that he can invest it for better returns. “I have been employed by the government for about 20 years. Recently the government sent a letter showing the amount I would receive if I retired, resigned,...
The launch of Itransact, a new index tracking retirement annuity, highlights the growth in passive investing but the costs are still too high. This week Itransact launched the first retirement annuity to invest in exchange traded funds (ETFs)....
David Elliott of Marriott Asset Management explains how to choose between a preservation fund and a new employer’s pension fund when moving jobs When you change jobs, you receive a pension pay-out, but the best thing to do with these funds is to...
Putting a personal financial plan into action After writing my review on the South African version of Dave Ramsey’s Total Money Makeover, I received an email from a reader who shared his experience of getting his finances in order after reading the...
What most 40 year-olds discover is that the choices they made ten years ago are now limiting their options when it comes to retirement, risk and medical cover. When you are in your 20s, it is hard to imagine what it would be like to be 60 years...
We should value our retirement funds as much as we do our homes Last week I received an email from a reader who was falling behind in her debt repayments. Her only solution, she believed, was to resign from her job in order to access her pension...
More than half of middle-class South Africans believe they will never be financially free, according to the Visa Wealth Worries 2013 survey. “South Africa, and indeed the whole world, has gone through a very tough time over the last few years. We...
Most people when they retire opt to sell up and buy into a retirement home, as these offer a range of amenities, security and a social life with people of similar ages. There are a range of options available, varying from luxury retirement villages with every...
PODCAST The recent Western Cape Relative Value Arbitrage Fund (RAVF) scandal that led to suicide shooting of Julian Williams by his associate, Herman Pretorius, is estimated to have lost investors around R1.8 billion. While investors, and financial advisers who...
A recent study by Alexander Forbes suggests that today’s average 40 year old will have 30% less funds in retirement than the previous generation due to lower market returns, longevity and lower savings rates relative to income. The Alexander Forbes Pensions Index,...
For most young people just getting out of debt is the main priority, however what if you are one of those rare “savers” who have saved a lump sum by the time you are in your early 20’s – where is the right place to invest it and how to you balance your savings with...
The discussion document issued by National Treasury on Strengthening Retirement Savings demonstrates that Treasury has a good handle on the issues within the retirement industry, however the challenge will be in finding solutions that are not watered down in order to...
Readers pose questions about whether retirement annuities are worth it; we investigate “I was wondering if you have any advice on RA's as a retirement investment. I have heard a lot of commentary about not going through RA's as they tax you much more on withdrawal,”...
“My husband and I were not able to save towards our retirement as we would have wished, but now, at ages 73 and 74 we have both been able to find employment and have been saving as much as we can. Where can we invest with reasonably good interest and is “safe” for...
In the 2011 Budget address Finance Minister Gordhan announced that National Treasury was considering a R200 000 cap on the tax deductibility for retirement savings. It is widely expected that this will be addressed in his budget speech on 22 February. The retirement...
If one of your New Year's resolutions is meet with a financial adviser and put a financial plan in place, you need to know exactly what you can expect from your adviser. Financial adviser Warren Ingram who was nominated as the FPI 2011 Financial Planner of the Year...
“I have just changed jobs recently. I took part of my provident fund to settle some of my debts and I have learned my lesson so no debts for me. In total I had about R170 000 and I withdrew R70 000. How much do I need to save up for to make up the short fall?” writes...