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The Wealth Perspective - Fourth Quarter 2018

10 December 2018

The Wealth Perspective - Fourth Quarter 2018

Welcome to the latest edition of the Wealth Perspective

In this edition of The Wealth Perspective, Chief Investment Officer Adriaan Pask considers whether it is too late to save for retirement. National Head of Sales, Jac de Wet, shares his tips on how to save enough to ensure a comfortable standard of living once your working years are behind you. Grant Meintjes, Head of our securities business, lists his key considerations when using shares to construct a retirement portfolio. Head of Estate and Trust Services, Willie Fourie, highlights how your choice of tax-efficient investment may impact your estate plan. Jan van der Merwe, Head of Actuarial and Product, shows how a Tax Free Investment Plan can add to your retirement savings. Shreekanth Sing, Technical Legal Adviser, shares his thoughts on pension fund choices and how this affects your quest to be part of the 6% of South Africans who can retire comfortably.

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Welcome to the latest edition of the Wealth Perspective

Marilize Lansdell

This edition aims to be a how-to guide to help you be part of the 6% of South Africans who can retire comfortably. This statistic is often quoted in the media – usually in the context of pointing out how dismally South Africans fare when it comes to saving for retirement. It is true – we are a nation of poor savers, but the good news is that there is always an opportunity to change the outcomes you can achieve. The catch, however, is that you must make a start.

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A word from our CIO

Adriaan Pask

Is it too late to save for retirement?

In its simplest form, saving for retirement depends on three factors: time, contributions and returns. If you lag behind in one area, the slack needs to be picked up elsewhere. Although you can shift your focus between these areas as personal finances and markets allow, you cannot neglect any of these for too long. Financial advisers are often asked about the time aspect, with many people wanting to know if it’s still possible to save for retirement at age 45, and if so, how? While this is not the ideal situation to be in, there is still time to act, provided you understand how these three factors work together.

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Industry views

Jac De Wet

Retirement tips to ensure a comfortable retirement

If statistics are anything to go by, many South Africans delay saving for retirement. When we are young, retirement seems just a speck in the future, and we are lulled into thinking time is on our side. Other life expenses seem to be more important – a new car, the deposit for your first home, a wedding, a baby or even a holiday. However, in most instances compulsory retirement savings in an employer’s pension fund or retirement annuity are not enough.

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Investing and trading

Grant Meintjes

Seven considerations when investing your retirement savings in shares

Shares make good long-term investments, and this is no different when it comes to retirement savings – perhaps the ultimate form of long-term investment. Knowing how much to save and understanding some basic investment principles can put you in an excellent position to achieve your retirement savings goals and be able to sleep soundly at night.

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Estate matters

Willie Fourie

The estate planning implications of using tax-exempt savings vehicles

People often weigh up the benefits of retirement annuities and tax-free investments in detail before they invest, but seldom consider the estate planning impact of their choices. These investment vehicles each have unique characteristics that may have an impact on your estate, so do ensure you understand how these will be dealt with.

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Quarterly insight

Jan Van Der Merwe

Using tax-free savings accounts to add to your retirement savings

If you still want to take advantage of this year’s tax exemptions, you need to do so soon. This is not easy, especially with the December holidays ahead. While they may bring a bonus for some, they also bring increased festive season spending, and moderation during this period is essential. Set yourself a savings goal this December, even if it is modest, and remember that short-term sacrifices pay off in the long run.

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Employee Benefits Insight

Shreekanth Sing

Retirement fund options and the quest to be part of the 6%

Retirement funds offer tax-free growth and tax-deductible contributions, making them the most efficient way to save for retirement and ensure you can retire financially secure. These include pension funds, provident funds and retirement annuities (RAs), and while they are all regulated in the same way, there are some differences you need to understand to make the most of your retirement savings.

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