Retirement annuities (RAs) are long term savings vehicles that you can use if you're not a member of retirement fund schemes or wish to top up your retirement savings. Their big attraction of RAs is the tax deductibility of the investor's contributions. But not all RAs are made equal. That's why, before picking one, you need to consider these six points…
Six points to consider when selecting ... ››› more
If you're amongst about half of the working population that has a company pension scheme, there are generally two types on offer. There's a defined benefit scheme and a defined contribution scheme. Let's take a closer look at defined benefit schemes…
How defined benefit schemes work
With defined benefit schemes, your pension is a proportion of your final salary, the team of experts at The S... ››› more
Retiring early is a dream we all share. But it doesn't have to be just a dream! Whether you want to retire at 55 or even earlier, you need to have a retirement plan in place that'll get you there. But not just any retirement plan mind you. The best retirement plans look at the secrets others who've achieved this before you used to get there. And when it comes to retiring early, there are three thi... ››› more
Whether you're looking for a new way to save for your retirement or you want to add to your current pension scheme, retirement annuities (RAs) could be worth a look. Introduced into SA over 50 years ago, RAs encourage you to save for your retirement in a tax efficient way. Let's take a closer look at how retirement annuities work…
What are retirement annuities?
On a basic level, RAs are sav... ››› more
If you haven't already, you need to think about your retirement. Once you've decided how you'd like to spend your retirement, the crucial thing you need to work out is how you're going to achieve that. You need enough money coming in to allow you to live your golden years comfortably. Read on to discover an option worth considering…
How do you want to spend your retirement?
The sooner you s... ››› more
At the end of January, the Reserve Bank made the surprise move of hiking interest rates by 0.5%. With the rand wallowing at five year lows and inflation climbing, the chance of more interest rate hikes is increasing. But what effect could rising interest rates have on your retirement? Let's take a closer look…
Interest rates and retirement: The link explained
If you’ve retired, the low... ››› more
In general, people spend more time planning a holiday than they do their retirement. That's scary considering a holiday is only a few weeks long at most, whereas your retirement is something you need for years. Today, we reveal three essential parts of your retirement planning you need to concentrate on today to make sure your tomorrow is a comfortable and happy one…
Preparing for your retire... ››› more
When it comes to investing for your retirement, you don't need to sacrifice control of your money to someone who doesn't have your best interest top of his mind. So kick mediocre investment returns to the curb. And handpick your best retirement plan by following this three-step retirement strategy.
How to set up your own retirement plan – DIY style
To take control of your retirement, here... ››› more
When it comes to retirement strategies, people often spend their time focussing on the wrong thing. They think their car… Their house… Their holiday home at the coast… Is what really matters. If you agree with this, you're neglecting your most valuable asset. And it could ruin your retirement plan…
What is your most valuable retirement asset?
mweb.co.za says that the most valuable r... ››› more
A successful retirement doesn't happen all by itself, it only happens if you plan wisely. But here's the thing: “Many women are so busy they don't have time to think about their own needs and to proactively prepare for their own retirement,” writes Forbes.com. In fact, American retirement studies reveal only 29% of women have made saving for retirement their top financial priority. Here in SA,... ››› more
As our family's ‘Financial Expert' I always have family members coming to me for help. And this past week I received a mail from a family member asking me to have a look at a retirement policy of theirs and whether they should continue paying it past 55.
When I saw its contents I was ready to explode.
You see, this retirement plan my family member was pay towards wasn't benefitting him at ... ››› more
When it comes to saving for your retirement, the most important aspect is having enough in your pension pot for your golden years. But how much should you be squirrelling away every month? Read on to find out how you can work this out…
To ensure that you’re saving enough for your retirement, you’ll need to get a bit technical, Phil Oakley in MoneyWeek explains…
Annuity factors (AF) he... ››› more
Pensions can be depressing and confusing to think about. But you can increase your chances of achieving the retirement you want and do away with some of the angst you feel by putting some time into planning it. Your first step should be to calculate how much you'll need to retire. Read on to find out how to work that out…
The first step in your pension planning is working out how much you’ll... ››› more
Do you remember the ad where the old man sits by the fire eating cat food, because he didn't plan for his future and now he's too poor to afford anything else?
Well, the scary thing is that's not far-fetched at all! That could be you in 20 years or so!
All because you didn't think your retirement through properly.
So saying you need the right retirement plan is an understatement.
Th... ››› more
One of the most popular retirement products on offer is a retirement annuity (RA).
That's because of the great tax breaks that come with an RA.
Now there's a new investment tool called a ‘new generation' RA that lets you customise your investments.
And you still get the tax perks of a traditional RA…
The fully customised investment that’ll fit in with your life and your income situati... ››› more
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