Common mistakes made by retirees

When you find yourself in an uncomfortable or strange situation, they often say that you feel “like a fish out of water”. For an average of 40 to 45 years, you “swim with the school”, whether it is as part of a particular company, or a group of friends or your family. You will earn […]

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Living Annuities

Living annuities have some awesome advantages, but also some important risks, warns Liberty’s Henk Apello. When investing in a living annuity, you must almost plan as if you are going to live forever. Many South Africans worry about having enough money at retirement and, even if they have saved their entire working life, they may […]

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How to cope with a retirement shortfall

Contrary to what you may believe, many people don’t retire with the lifestyle that they thought they would. This is because they often come up with a shortfall or gap in their pension savings. This could be due to a myriad of reasons, including: not saving enough, drawing on pensions before retirement, fees taking out […]

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Financial Planning for the elderly

If we consider that only 6% of retirees are financially comfortable, 94% of retirees are either financially dependent on the State or on family members and a vast number of South Africans emigrate leaving their parents behind, then we are faced with the stark realisation that Financial Planning should be done for the elderly and […]

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Don’t cash in your retirement savings

I’ve worked at Personal Finance for nine years, in two stints: my first was on my return to South Africa in 2001, after a couple of years working abroad. I landed a job at Personal Finance as a sub-editor and quickly realised that I was profoundly financially illiterate. I had just turned 30, and although […]

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Spouses need to review their finances

Last month the Davis Tax Committee (DTC) issued an update on its tax recommendations especially around so-called “death taxes”. Some of the key recommendations are to remove estate duty, donations tax and capital gains tax exemptions between spouses yet substantially increase the value of an estate before estate duty is payable. The implications for estate […]

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