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“Dinosaurs R us?”

“Dinosaurs R us?”

I was at a workshop session recently where the following quote was mentioned “Finance will be the most disrupted industry in the next 10 years”. The quote was attributed to Peter Diamandis, the executive chairman and co-founder of Singularity University. That’s my industry – sure, there’s a lot that needs disrupting but it’s really got me thinking. An example that was given was of short term insurance...

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Occam’s razor

Occam’s razor

It was while shaving one morning recently that Occam’s razor came to mind. William of Occam was a 14th century Franciscan Friar who studied logic and is credited as the first person to make known the “law of briefness”. In short he said that when faced with a problem, in the absence of evidence to the contrary, the simplest solution/explanation is usually the best solution/explanation”. Sometimes I wonder about my subconscious but I...

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(10) Dumb ways to die (financially)

A year or so ago my kids introduced me to a very cute you tube clip, “Dumb Ways to Die” which was a public service campaign to promote rail safety in Melbourne, Australia. It quickly went viral – you can watch the clip here https://www.youtube.com/watch?v=IJNR2EpS0jw For some reason I found myself humming the tune while I was on my way to work recently and while I was driving my focus turned to dumb things people do,...

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TFSA’s – a better way?

TFSA’s – a better way?

There seems to be quite a bit of activity around the new TFSA accounts and yet it seems to be by all the “wrong” people. By this I mean that the people who seem to be getting excited are not the actual intended beneficiaries…we seem to be forgetting that the TFSA accounts are intended to encourage “non-savers” to save. I’ve thought about it quite a bit and perhaps there is scope for more creativity on...

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A very real problem with an “ubuntu” solution

A very real problem with an “ubuntu” solution

Got an email from a client whose domestic worker has ±R50k saved in a unit trust fund and who wants to know if her (minor) kids would be able to get the funds if she dies. The short answer is no, but this is not helpful. Not only would the kids (nor anyone else for that matter) not be able to repurchase the funds (they cant sign on her account) but they would also not be able to receive the proceeds of her estate as they are still minors....

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TFSA’s – a response!

TFSA’s  –  a response!

I wrote the piece below towards the end of Feb just after the regulation around TFSA’s was announced* and at the time that OM (life) announced the launch of their offering. I took the information directly from their website and then got contacted by someone from OM about my information being incorrect…my response to this is that one of the main criteria of the TFSA is that “products qualifying as tax free savings and...

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