“They prowl the empty streets (at night), waiting in fast cars and on foot”* looking for unsuspecting consumers. Yes, it’s that time of year again when Retirement Annuity salesmen are on out in full force. February is “traditionally” RA month as it signifies the end of the tax year and anyone needing to put money into an RA has until the end of the month to do it. RA’s have received a lot of press (not all of it good) and...

Black is the new gold – at least that’s what Woolworths want us to believe… Been thinking about credit cards quite a bit recently and wondering if there is a “best” option. So I have been looking at some of the offerings and the first one I am writing about is the “new” Woolworths Black credit card. On the face of it, it seems quite appealing. Assuming you earn enough to qualify for the card (I think it is >R500k...

I remember, as a kid, reading about Doctor Dolittle and the fantastic “pushmi-pullyu” a gazelle-unicorn cross with two heads (one of each) at opposite ends of its body. Whenever it tried to move, both heads went in opposite directions and as a result it went nowhere. I had to apply for a tax clearance for foreign investment for a client of mine and could not help but think how the current tax clearance process reminded me of the...

I remember reading a small book (about 15 years ago) called “The Greatest Salesman in the World” by Og Mandino – I remember the book making a real impression on me at the time and in particular I remember the following… “I will persist until I succeed. I was not delivered unto this world in defeat, nor does failure course in my veins. I am not a sheep waiting to be prodded by my shepherd. I am a lion and I...

I attended the launch presentation of ETFSA towards the end of November. Exchange traded funds are increasing in popularity both globally as well as locally so I thought I had better find out more. ETFSA is an investment platform which provides access to all the ETF’s in SA and also plans to make a an ETF retirement annuity an option. While I can see the role that ETF’s can play in an investor’s portfolio there are a few misquoted...

Got an invite to an investment presentation by Old Mutual in Feb 2011. The topic? Investment strategies for a low-growth world. The venue? Market Hall at Grand West Casino! I dont know, is it only me or is there something fundamentally inappropriate about hosting investment presentations at a casino?

Ok, so almost everyone accepts that a unit trust RA is currently the best retirement annuity available in SA…(for reasons of cost, transparency and most importantly, flexibility). And while government is (apparently) intent on encouraging retirement savings, it seems that they really are only paying lip service to the issue because you can only access a unit trust RA if you are well-heeled. The very people who so...