Retire: Pre-retirement withdrawals

Carina JoosteLatest, Retire

You may have an opportunity to withdraw from your provident or pension fund due to changes in employment during the COVID-crisis. Access to funds might cover some of your short-term expenses, but the long-term impact on your net worth could be severe. In this article we’ll share some factors to consider when making this decision.  ...

Retire: Medical aid in retirement

Carina JoosteLatest, Retire

Medical aid is non-negotiable when we reach our sunset years. This post looks at some realities our savings might need to cover, and how to determine our retirement savings number for medical care. As with most things money, don’t be late.  Late-joiner fees apply when you join a medical aid after the age of 35 ...

Retire: Emergency funds and retirement

Carina JoosteLatest, Retire

Here’s a question: You’re newly retired, and thinking about cashing out your emergency fund. As most of your expenses might be under control during this time, and you don’t have to worry about the consequences of losing your job, the purpose of an emergency fund does not apply to you anymore, right?  Emergency funds are ...

Retire: A glossary of fees

Carina JoosteLatest, Retire

Retirement products are complicated. So let’s get our teeth into one dimension that should always take priority: Fees.  Keep this glossary at hand when you next review your retirement product to see exactly what each fee means and how they will impact your savings in the long run.  EAC Effective Annual Cost Standard  The EAC ...

Retire: Save on tax, retire with money

Carina JoosteLatest, Retire

In honour of the end of the tax year, we’re making the best of the tax benefits linked to retirement savings. Let’s take a look at the following two tax events within the retirement journey: Tax pre-retirement Tax post-retirement Tax pre-retirement As the last month of the tax year, February is your last chance to ...

Video: OUTvest ONEfee, a 0.2% RA

Simon BrownWebinar and Video

OUTvest introduce their ONEfee retirement annuity (RA) product that offers a flat R4,500 annual all-in fee or 0.2% when the RA is worth more than R2.25million. In this video Grant Locke from OUTvest introduces the new offering that is expected to shake up the retirement industry. Download the presentation OUTvest -ONEfee Launch Presentation Final. RSA ...

Retire: The post-retirement plan

Carina JoosteLatest, Retire

When it comes to numbers and retirement, the digits that enjoy the most attention in retirement planning is your retirement number - the amount you would need to have in retirement savings to enjoy a comfortable old age.  However, your retirement age is equally as important - if not more so. Because that’s where you ...

Retire: Next stop – retirement

Carina JoosteLatest, Retire

With 2019 wrapping up, many nine-to-fivers are also clocking out from a lifetime of employment, which introduces the very uncomfortable question: Now what?   Dave Crawford, a retirement training expert from Planning Retirement, has been guiding individuals through this question for the past 30 years. We asked him to share the top three issues with which ...

Retire: Understanding your statement

Carina JoosteLatest, Retire

I recently asked a close acquaintance if there are any retirement concepts or jargon he doesn’t understand which I should break down in this post. His answer was simple. “I don’t know anything. I know I have one [a retirement annuity], I don’t know how much I’ll get when I retire and I don’t know ...

Retire: TFSA and retirement

Carina JoosteLatest, Retire

In our previous Retire post, we looked at endowments as a vehicle for supplementing your retirement savings. This month, we’re delving deeper into a firm favourite amongst many an investor: tax-free savings accounts (TFSA).  What is it? Created to make South Africans better at saving, TFSAs promote a culture of saving by being exempted from ...