Tag: 10X Investments

The economic reality in South Africa today leaves many middle-class households grappling with mounting expenses. They also face dwindling disposable income, which makes successful retirement savings increasingly difficult. In addition, there is a persistent inability to save for retirement.

No matter how much you love your job, financial freedom should be your ultimate goal. For those unfamiliar with the term, financial freedom can best be understood as a state where individuals or households have enough financial resources to cover their living expenses without having to depend on work to maintain their standard of living.

Even after the final reforms are in place investors will remain free to be their own worst enemy. Almost 10 years after National Treasury embarked on its mission to strengthen South African retirement savings, as reflected in the Taxation Laws Amendment Bill of 2020, the final reforms are scheduled to come into effect on March 1 but, unfortunately, fund members will still be free to sabotage their own retirement.

The affirmation of South Africa's investment-grade credit rating by Moody's late on Friday is welcome. South Africans will now be spurred to focus on their individual financial wellbeing and ask if their own status could be described as investment grade or junk. This in light of the fact that 94% of South Africans still on the junk watchlist.

Somewhat ironically, each new year launches into the same old news cycle: the WEF meetings at Davos, the State of the Nation (Sona) speech, presentation of the national Budget to Parliament. Those a bit longer in the tooth may feel that it’s all over-hyped – 'sound and fury, signifying nothing' – because invariably these events don’t become watershed moments, just brief intermissions that change little, if anything.