Insights

“Despite wide media coverage of how the two-pot retirement system will work once it’s implemented on 1 September, the new way of saving for retirement is still surrounded by various myths that indicate that consumers don’t really understand how it works.”

“South Africans urgently need to gain control over their finances,” says Kanyisa Ncemane, Customer Solutions General Manager at Old Mutual Personal Finance. “Improving savings in our country is one of the major socio-economic challenges facing us as a society.”

We understand that client’s needs change and budgets can be tight. Here is a quick cheat sheet on how to reduce your risk cover.

Just about from the day, we bring our babies home from the hospital, we begin stimulating their little minds. But even though many of us get our investment in our children’s minds, bodies and safety right, we often forgot to invest in their financial future.

Farming is a cornerstone of the economy of every country. It is also one of the riskiest of businesses, being so dependent on climate, labour, machinery, pricing, disease control … and the presence and skills of the farmer.

The death of someone close to us is always traumatic, an experience that has major emotional and financial implications. However, a little bit of forward planning and clear instructions can help minimise financial burdens your next of kin will have to face — allowing them to grieve without additional worry.

In today’s world, it is easy to forget the role that money plays in all our lives. It is not limited to purchasing power or the number of things we can spend it on. No, money can (and should) be so much more. Proper financial management is about having the information to plan and afford a lifestyle that is comfortable and worry-free.

1. VAT increased from 14% to 15%Government will raise the lion’s share of the R36 billion in additional taxes in 2018/19 through a one percentage point hike in the VAT rate. This is expected to contribute roughly R23 billion to the fiscus. To limit the impact on poor households, the current zero-rating on basic foodstuffs such as maize meal, brown bread and rice will remain in place. Vulnerable households will …