Finfocus

What to do during a motor accident

1. STOP, STAY CALM, Do not admit guilt or make any promises. 2. Take PHOTOS of the accident scene, the damage to involved vehicles, the registration & license disk of the other vehicles. 3. COLLECT the personal, contact & insurance DETAILS of the other parties. 4. If there are WITNESSES (Not from any of the […]

How to plan for a successful retirement and make your money last longer

People across the world are living longer, with economists forecasting that living to 120 is now an imaginable concept within the next decade. “This has significant implications for retirement planning, especially given the financial and lifestyle changes associated with this milestone,” says Lise-Mari Crafford, head of ManCo Distribution at Allan Gray. The World Health Organisation […]

Why do I need a Financial Advisor?

You need to manage your money. This implies more than just budgeting to get by on a monthly basis or watching expenses (although these too are necessary). You also need to manage your money to fulfill your dreams (or in financial terms ‘achieve your investment objectives’). It may not be your priority yet, but this […]

Retirement annuities to the rescue

One of the best ways to save for the future and to decrease your tax bill is to make contributions to a retirement annuity. Retirement annuities are investment products that allow you to save for your retirement – and the underlying portfolio is NOT taxed. Why an RA? Individuals can contribute up to 27,5%, capped […]

Will I be paying more tax?

Tax Deductions (PAYE) on your Pension or Annuity SARS has decided that what is sauce for the goose, is also sauce for the gander. In tax terms this means, that if pensioners or annuitants receive their income from more than one source, they will be taxed on this total income on an ongoing basis, just […]

Things you should know about your Last will and testament

BEFORE WE DELVE INTO THIS, LET’S START WITH A FEW QUESTIONS: a) Do you have a Will? If yes, continue reading. b) Have you reviewed your Will in the last 5 years? c) Have any of the following changed during the last 5 years: • Marital Status • Family composition • Assets attained (relocated? property […]

Dreaded disease

MOST CRITICAL ILLNESS CLAIMS IN THE INDUSTRY ARE FOR THE FOUR MAJOR CONDITIONS: Cancer; Heart Attack; Stroke and Coronary-Artery Bypass Graft Examples of other conditions, apart from the major 4 listed above, that are usually covered are: Nervous System Disorders: MS, Stroke, Brain Tumour, Alzheimer’s, Parkinson’s, etc. Cardio Vascular Disorders: Bypass Graft surgery, Heart Attack, […]

Finfocus_Retirement

RETIREMENT? DON’T BE CAUGHT NAPPING! Too many people think of retirement planning as something that needs to be done just prior to retirement. Retirement planning actually consists of three phases: Planning (be)for(e) retirement Investment planning at retirement Continuous monitoring of investments after retirement   This Finflash deals with Planning before retirement. Planning for retirement should […]

It is time to save on tax

With the 2018 tax year for individuals drawing to a close, investors have a final opportunity before the end of February to reduce their taxable income and pay less tax by contributing to a retirement annuity. Why a retirement annuity? Individuals can contribute up to 27.5%, capped at R 350,000 per year, of their taxable […]