It’s crazy how our retirement age of 65 is laid down for us. An outdated concept which dictates to us when we should give up working and be put to pasture. Over the past century we have improved our life span dramatically making 65 a much younger age than it used to...
Standard and Poors made the decision this week to hold off on the decision to downgrade South Africa to ‘non investment grade speculative’ commonly called ‘Junk Status’. A place every country has to avoid as the consequences are devastating. Getting out of the dreaded...
The Standard Bank Scam is estimated at R300 million involving 14000 transactions at ATM’s in just a few hours over at 7 Eleven stores all over Japan.It was conducted with precision, using “mules” to make the many withdrawals which were just under the right limits...
Recently I came across a very disillusioned sponsor of a student loan who had been paying interest and service charges for 18 months and the outstanding loan was still the same as the original amount. The banks cover themselves from left right and centre with this...
Mother’s Day is a very important day for most. They are undoubtedly the most important asset in the family. They provide, nurture and support with endless commitment giving their all even when they don’t have much left. How do you put a value on them when they are...
You get the sense that the increasing number of Ponzi Schemes (especially the latest MMM) mushrooming in South Africa is directly related to the financial pressures that are induced by our ailing economy. When there are large numbers of people struggling to make ends...
A trust is a useful entity in some circumstances as the assets it owns do not belong to you and are managed for the benefit of its beneficiaries. Here are 3 reasons why you should have one: Long term planning for your family ...
A trust is a legal entity which controls assets on behalf its beneficiaries. It is managed by trustees in terms of a trust deed which details how the assets should be distributed. It helps some but not everyone. Here are 3 reasons why a trust is not that beneficial...
What is inflation? ...
When you have finally succumbed to the fact that you are over your head in debt and cannot cope any further. Here is a way forward which will help to soften the blow. Step one – Open the envelope ...
Unsecured lending seems to be a quick and easy way out of a financial crisis but it’s probably a spade which digs a bigger hole for you. The old saying, “If you find yourself in a hole, the first thing you should do is stop digging”, is so applicable to debt. My wife...
South Africa is being reviewed this week by Moody’s rating agency which has a negative outlook on our economy. The probable downgrade to BAA3 will bring it inline with Standard and Poors and Fitch which have already downgraded us to their equivalent BBB-. The next...
Dying without a will has some serious implications for the loved ones that you leave behind. Especially if they are minors under the age of 18.. Many South Africans do not have a will and this means that their estates will fall under the Interstate Succession Act. The...
The budget proposals for 2016 are the most difficult to face in decades. South Africa is between the proverbial rock and hard place. High unemployment and low growth. Our economy is in stagflation and this presents very little room to manoeuvre. Our Minister of...
The global markets are in turmoil. Growth is slow, emerging markets face a currency crisis, stock markets are trading at jittery levels. Is this the time to buy or sell? Mr Miyagi, the wise old man in the movie, “The Karate Kid”, started Daniel out on his training by...
Generally speaking, when you make a financial decision the outcome is only realised some time in the future.Your advice should not be taken in isolation and as a once off decision. You need to keep in touch with the advice given by reviewing frequently to ensure it is...
A huge windfall such as an inheritance or winning the lotto or power ball is a lot more difficult to handle than you might think.Statistics point to over 70% of people who have won large lotteries having spent everything within seven years and some even filing for...
Another rate hike of 50 basis points and the probability of more on the way call for us to become more savvy with our money. We need to find ways to use money more efficiently and then divert the savings towards paying off debt sooner than later. There are two debt...
From the 1st March 2016 the options for retirement have changed. Legislation comes into play which aims to standardise the various types of retirement funds which are available to us. Namely, provident, funds, pension funds and retirement annuities. The changes will...
Debt is so easy to get into and so very difficult to get out of. Prevention is always better than cure but the reality is that we get enticed into debt over time and soon find ourselves in it way too deep. The cost of debt climbs quickly and robs us of the potential...