Tag: income

Starting a new business is an exhilarating venture, filled with both opportunities and challenges. However, the path to success requires more than just a great idea - it demands a strategic approach, careful planning, and the ability to adapt to evolving market conditions. 

South Africa’s tough economic conditions have left many consumers struggling to build emergency cash savings. According to our data, more than half (52%) of entry level private banking clients have less than one month of their salary saved in immediately accessible cash savings available, to use in the event of unforeseen circumstances such as retrenchments or urgent medical procedures.

There’s an old saying "there are two sides to every story". And the current battle over the question of chicken import duties and tariff rebates serves as a case in point. While the issue may be complex, there is a potentially simple solution: extend the rebate for those products that are critical for lower income families and manufacturing, where they add the greatest value for local businesses and consumers.

Investing in real estate has long been considered a reliable investment strategy, especially during challenging economic times because, unlike stocks and bonds, property is a tangible asset which offers unique advantages that can accelerate wealth accumulation over time.

In today’s complex financial landscape, business owners need more than just insurance policies. Business owners need the comprehensive, unbiased advice that can only come from an Independent Financial Adviser (IFA) to create a holistic financial plan. It is important to understand the distinction between a ‘tied agent’ and an IFA.

When we think about estate planning, we think of a plan outlining a tax-efficient way to deal with our assets when we pass away. Instead of viewing this as a ‘death plan’, try to think of it as a ‘life plan’ – a strategy created during your lifetime to ensure that your wishes are fulfilled, and that your loved ones benefit as intended after you pass away.

Sustainable change does not occur in one giant leap. We all make plans, set goals and enthusiastically imagine a better future. Unfortunately, most people never achieve their goals, whether they be personal or financial.

Lately, I have received several questions from investors about how rich people go about their money. What do they do differently, or have they simply inherited wealth? Our clients include a substantial number of families who have accumulated wealth over many generations, but many are first generation.

“Supporting an unemployed person with a public works job far outweighs its cost” according to ex-deputy director-general of National Treasury, Andrew Donaldson. Experts with a deep understanding of economics, our country and its policy history, from Andrew Donaldson to Kate Philip, the lead on the Presidential Employment Stimulus, are calling for an expansion of socially and economically productive public works programmes.

Removing the causes of mass youth unemployment in South Africa would have multiple positive consequences for job seekers. If small businesses and households, “the natural employers of young and untrained workers in an open labour market”, were free of the burden of the minimum wage and other unnecessary regulatory burdens that have been imposed on them, they could make an unprecedent contribution to the economy.