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The benefit of the Tax-Free Savings Account (TFSA) is best realised when staying invested for the long term to allow for capital appreciation to take place. The tax-free interest or return earned on the investment over time can then be re-invested to get you closer to your savings goal.
Unless you save at least 15 times of your annual salary by the time you retire, it is not advisable to take early retirement, says NMG Benefits, Head of Retirement, Craigh Chidrawi.
As life expectancy rises around the world, a growing number of countries are raising their general retirement ages, enabling people to work for longer and postpone the day when they start drawing on their retirement savings.
In March, we commemorate our human rights as South Africans. In remembrance of South Africa’s long road to democracy – and the struggles along the way – the month is dedicated to understanding and celebrating our cultural, religious and racial differences.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?