Each year, about a million people need to stop working due to an illness or a debilitating injury. Yet, according to an article published in The Times, only 10% of people have severe illness cover. A severe illness is a medical condition that prevents you from leading your normal life, and the life industry covers a wide range of these dreaded diseases and health conditions, from Type 1 diabetes to Parkinson’s disease. However, the ‘Big Four’ […]
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Avoid crippling your finances
It is highly likely that one of your biggest assets is your earning power. It is vital to protect this asset and ensure you maintain a steady salary until you have reached your financial goals. Many people take a head-in-sand approach when it comes to income protection, believing that they’ll never be inflicted with a disability, or assuming they can find a quick resolution if they are. However, this doesn’t necessarily equate to positive thinking, but […]
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Your health is your wealth
“It is health that is your real wealth” — Mahatma Gandhi Many entrepreneurs and ambitious people are concerned with climbing the career ladder and building their wealth. However, as you get older or suffer bouts of illness, you will start to appreciate the true value of your health and not take it for granted. Although achieving your goals is understandably important, you don’t need to completely abandon your health in your pursuit of success. It’s simply […]
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Females and Finance
This Thursday, 9th August is National Women’s Day, which marks the historic moment on 9th August 1956 when 20,000 South African women of all races showed that they would not be intimidated by unjust laws when they marched to Pretoria’s Union Buildings to present a petition to the prime minister against the carrying of passes. It was one of the largest demonstrations staged in the country’s history and, to commemorate the event, the first National Women’s […]
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Retirement 101
Creating your long-term saving goals (this is retirement for many people) is not something that you can simply decide on the spot – and often, these goals may change over time. Before you even get into some of the technicalities of long-term saving strategies, as we will cover in this blog, you need to know why you’re saving – and what you’re saving for. When you know the why, the how is much easier. This should […]
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Financial lessons from Rich Dad, Poor Dad
In his bestselling book, Rich Dad, Poor Dad, the author, Robert Kiyosaki, explains the fundamental differences in the way his two fathers thought about money — his real father who was ‘poor’ and the father of his best friend who was ‘rich’, despite both earning a good salary. From studying their journeys, he realised that your wealth can depend more on your actions than the money you earn. He surmised that it is, therefore, important to […]
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The urgency of an emergency fund
An emergency fund is a lump sum of money that is important to set aside to cover any financial surprises, such as car breakdowns, medical requirements, home repairs, vet bills, or sudden unemployment. These unexpected emergencies can be stressful, costly, and they often demand immediate payment. You can financially manage these unanticipated disasters by ensuring you have an emergency fund to fall back on when the need arises. Insurance can play a big part in financing […]
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Recent change to TFSAs
A National Treasury regulation that came into play on 1st March 2018 now provides South Africans with more flexibility when it comes to investing their money in a tax-free savings account (TFSA). According to an article published on Business Tech, South Africans will be able to switch as much as they want of their money in a TFSA between financial service providers at no additional cost. They can do this up to a maximum of twice […]
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Investing Offshore
July is National Savings Month in South Africa, which is an awareness campaign spearheaded by the South African Savings Institute (SASI). The objectives of the campaign are to promote discussion about saving, raise awareness about the benefits of financial planning, and motivate consumers to be proactive with regards to their savings. The country’s weakened currency continues to affect the price of everyday items, such as fuel and basic goods, as well as more luxury expenditure, such […]
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Tax practitioner services
Filing a tax return can be confusing and time consuming, particularly if you have more than one source of income or are eligible for several deductions. As frustrating as bureaucracy can sometimes be, expressing your irritation to anyone at SARS will probably not get you far. If any issues arise, it’s best to contact SARS professionally in writing so that your discussion is recorded and can be referenced. If you wish to relieve yourself of the […]
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