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Save today, financial freedom tomorrow

21 September 2017

Employees who are living off a salary now may find it difficult to comprehend having to live off their savings when they eventually stop working. It’s important to realise that this “second salary”, or your retirement income, is essentially the salary you’ll be paying yourself in retirement as it’s based on your own savings throughout your working career.

What does history teach us about living annuities?

21 September 2017

Retirement can be a daunting prospect. Not only is it a time of personal adjustment but it is also a time to make financial decisions that will impact your lifestyle for the rest of your life. Retired investors commonly face the dilemma of either maintaining a certain lifestyle or adjusting it in order to preserve their savings. Typically the more income one draws and spends today, the less is available to create future income. When inflation is added to this quandary, it becomes important to also grow that income over time to retain one’s buying power. Marriott has researched the sustainable levels of income that retirees were able to draw historically, to better understand the difficulties retirees face and why in retirement you should spend the income and not the capital.

Financial stress linked to risk of chronic disease

19 September 2017

Financial woes don’t just affect your wallet and lifestyle – it also has a substantial negative effect on your physical health. And once this happens, it may have a further negative impact on your financial situation, creating a cycle that can repeat itself over and over again. This staggering link between financial stress and ill health in South Africa accrues from a research paper by Momentum titled “Financial wellness and debt as a predictor of physical wellness and claims”.

Securing your income in shaky times

11 September 2017

Losing your source of income due to retrenchment is a daunting reality that many of us face. The retrenchment process can often be long and drawn out, taking both an emotional and financial toll. “Unfortunately, due to the current tough economic environment South African businesses find themselves in, retrenchment is a possibility that managers and employees have to prepare themselves for,” says Jaco Gouws, Protection Product Head at Old Mutual.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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