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Responding on lekker tax

14 August 2006 Reader

Readers respond on the newsletter "Lekker tax".

*  Thanks for your short and sharp news items.

However I reckon Prof. Matthew Lester has his sums quite wrong when he says one needs R 10 000 000 to provide an annuity of R 25k. The figure is more like R5 000 000, with a reasonably conservative investment.


*  The only thing thought provoking re. your comment that you would need R10m invested to get a monthly return of R25K is what a rip off!!!!!

If you put your money into the money market you would only need R4.2m.

Someone is getting rich!!!!

I think I will can my RAs if this is the case.

 

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