The South African government’s guarantee of up to R100,000 per depositor means the answer is less clear than it might seem.
Millennials have a different set of attitudes and values, and these may not have been incorporated into their cradle-to-grave retirement journey.
What is important to any genuine investor is how the market performs over much longer periods.
Ironically, the people who earn the least appear to be the most savvy with their money, while most working people have no money left by the 15th of the month.
A large number of South Africans earning at least R15,000 a month are delaying retirement because they simply can’t afford it, a survey found.
The pensioner’s daughter, who is a lawyer, intends dragging Absa Bank before the Ombudsman and National Credit Regulator.

Banks can no longer grab money out of your account without authorisation

The problem with ‘set-off’ is that it privileged the banks above other creditors, and often left the debtor with no money to cover essentials costs.

Start saving now to afford medical aid in retirement

When saving for retirement, it’s important to appreciate what you are working towards, and to understand how much you need to set aside to make sure your health is taken care of.

Financial emigration is the new way out

The taxman targets foreign earnings in excess of R1 million, but taxing South Africans working abroad may be the wrong move.

Equity crowdfunding gaining traction in SA

South Africans are increasingly turning to ‘the crowd’ – not just to help people in need, but to build businesses.

Uncovering SA’s seedy crooks and crytocurrency underworld

Illicit transactions happen, scams exist, and electronic tokens don’t come with the same safeguards as money kept in bank accounts.

Effects of Sars’ proposed change to tax on foreign earnings to be widely felt

Sars’ proposal is going to have major implications for the many South Africans who work in places around the world but maintain a home here.

How to get more bang for your eBucks

FNB have added incentive by doubling fuel rewards if account holders finance their cars through Wesbank, load their vehicles on the FNB app, and fill up at Engen.

FNB slashes prices to ensure competitiveness at lower end of market

FNB is offering additional value across all its accounts, something that it hopes will make customers less likely to switch to rivals.

Food prices likely to be affected by carbon tax

Other factors which may affect food prices included the domino effect of the trade war between China and the US.

Financial planning for children with special needs

A special needs child’s diagnosis, severity, prognosis and life expectancy all impact a parent’s financial-planning process.

Why you should buy your domestic worker life insurance

If an employer buys cover and reduces their domestic worker’s salary by the premium amount, the employee will still be in a better financial position, with good insurance.

Pinpointing the true value of financial advice

Advisors can add enormous value by being the independent, objective voice of reason that helps investors avoid the mistakes emotional and cognitive biases lead to.

Making financial room for a new arrival

New parents underestimate the costs, here’s what to consider.




 

 

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