As of 1 March 2020, an amendment to the South African Income Tax Act will have definite ramifications on the lives of South Africans living and working abroad. Now that this infamous ‘expat tax’ is in effect, SA expats are now obligated to pay up to 45% of their foreign income to the taxman when it exceeds R1 million per annum, which includes any fringe benefits provided as part of the job. But what about investors? […]
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Make your life easier – Part 1
Every day our lives get a little more complicated. That’s the reality of the world that we’re currently living in. It’s not easy to keep order in your life – even if you’re one of the few who excel in keeping things in line! Finding just the right amount of order in your life is one of the secrets to making your life easier (learning to say ‘No.’ is another secret…) When you can find what […]
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Freedom of choice
“In the truest sense, freedom cannot be bestowed; it must be achieved.” Franklin D. Roosevelt We live in an age where freedom is considered one of our greatest, basic human rights. Freedom comes in many forms, but as Franklin Roosevelt said, it’s something we need to achieve for ourselves, it is not something that we can be given. This is shown in our choices – which means that whilst we can claim the freedom to choose, […]
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The NHI: What we know so far
South Africa has just had its annual Budget Speech, with one of the many controversial topics not addressed being the National Health Insurance scheme. Yet President Ramaphosa stated very recently that he expects it to be fully rolled out within the next five years. The NHI was initially to kick off on 1 March 2020 but is currently years away from full implementation, with much still unknown about how NHI will actually work. So, what do […]
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Financial literacy: PART 2
“Children must be taught how to think, not what to think.” – Margaret Mead Teaching your children to be financially literate can be one of the greatest life gifts you give them. You’ll be teaching them about the values of financial independence and management. Learning about personal finance at home can be a more enjoyable and enlightening experience than at school. In Rich Dad Poor Dad, Robert Kiyosaki agrees, as he says, “One of the reasons […]
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Does your wealth creation strategy need more love?
February is the month of love, but it’s also the first real month of the year for most of us, once we’ve got back into our routines and come back to grips with life after the holidays in January. As a result, you may be thinking of how to get your 2020 goals going, especially your financial goals, rather than romance. However, there is a way to think of both. In honour of the month of […]
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Financial literacy – PART 1
“Today the greatest single source of wealth is between your ears.” – Brian Tracy Learning about how to build wealth is something most of us desire. Yes, we know the basics of budgeting but we still need to gain a deeper awareness of financial management and literacy. We constantly need to learn better money habits – something we could have learned at school. And, if you know your parents have difficulty managing their finances, sharing this […]
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Coffee, makes you think
After owing its name to the mindful Fransciscan monks, the Capuchin friars, many of us overlook our daily cappuccino (or other frothy delight) and how much we spend on these little luxuries in life. One of the best ways to add meaning to our money is to be mindful about how we spend it, and our financial well-being is closely linked to how we feel about our money and what it means to us. If we […]
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What to consider when saving for education: PART 2
“An investment in knowledge pays the best interest” – Benjamin Franklin We never stop learning. And, the older we get, the more we know how little we know! For some of us, learning happens in the school of life, for others, we need to choose a more dedicated and focussed channel for tertiary education. Planning and saving for tertiary education, either for yourself or your children, is best done in advance. Even if you don’t start […]
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The RA-minder
For many, the way in which we save and invest is not a daily conversation, so it’s easy to forget what we have in place AND WHY we have it in place. Here’s a quick reminder! An RA… or Retirement Annuity is one such product that can often confuse many. RAs have been around for a long time and are basically private pension plans that help you to save for retirement. As we near the end […]
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