An interview with Stephen Katzenellenbogen, Senior Executive, Private Wealth Manager, NFB Private Wealth Management, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing an article penned by Andrew Duvenage, Managing Director, NFB Private Wealth Management, apropos the ANC’s Economic Transformation Committee proposal outlining changes to Regulation 28 of the Pension Funds Act.
The rapid changes experienced over the past few months and leading to the current relaxation of lockdown levels, has resulted in the South African economy’s recovery taking the shape of a ‘swoosh’ of a fast decline then a quick recovery that will take time to be fully realised.
Real GDP surprised the market consensus to the downside in the second quarter of 2020 as the effects of the pandemic and the associated lockdown measures ate into economic activity. Growth contracted by 51% q/q saar and printed lower than the August 2020 Reuters Econometer median growth forecast of 44.5% p/p saar.
As more South Africans and their businesses continue to face the damaging effects of COVID-19 and the tremulous economic landscape, moving abroad is becoming a serious consideration not only for the rich but the middle class as well.
With the South African Bitcoin/ZAR weekly trading volume, to name just one, currently standing close to R30 million, there are various manners in which the South African Revenue Service (SARS) can track the gains made by South African taxpayers who trade cryptocurrencies.
The idea of American Exceptionalism has been a favourite rhetorical device of US presidents since the days of John F. Kennedy. It goes beyond conveying the sense that the country is richer and more powerful than other countries, but also that its unique culture and historical path render its destiny superior.
The banking group is hopeful that impairments will decline, and client activity will continue to improve as the year progresses. Nedbank believes the worst may be behind it after suffering a large decline in first-half earnings due to what is has billed as the Great Lockdown Crisis (GLC).
Having a valid will in place is one of the most important things you can do for yourself and your family. A will can legally protect your spouse, children, and assets, as well as spell-out exactly how you would like things handled once you have passed on.
Earlier this year, the ANC’s Economic Transformation Committee published a proposal outlining changes to Regulation 28 of the Pension Funds Act. Regulation 28, which controls the extent to which retirement funds may invest in particular asset classes.
What if we said you could easily retire with 25% more in savings? What if we told you the system is designed so you don’t find out how to do this? People asking for advice on the 'the best funds' for retirement but not questioning the fees they’re paying have their heads buried in the sand.