The Financial Coach


It’s time we had different conversations with our clients…

I recently had an interesting discussion with a friend of mine (we don’t do her financial planning). The conversation turned to money

More SARS flu

Not content with being lambasted by the tax ombudsman’s office, SARS now seem to be making up their own rules as they go along.

A case for higher offshore weighting within a living annuity?

There is this strange phenomenon in SA called Regulation 28 that is applied to retirement funds. It stipulates that retirement fund members may not have more than 75% of their funds in equities and no more than 25% of the fund invested offshore

“Internet explorer is the safest browser” SARS*

You know that SARS is really in a mess when they still insist that Internet Explorer is the “safest” browser. It is also the only browser in which their efiling application functions correctly. How is this possible in 2017?

Scam alert – ISM R5000 share portfolio

ISM R5000 Share portfolio scam on the go again It seems that an old scam is on the go again. I have just received a call from a company claiming to be called “ISM” and advising me that I had won a R5000 share portfolio. They needed to make an appointment to bring the money …

Penalised twice! This is just not right!

We are trying to add someone who has never previously been able to afford medical aid onto a medical aid scheme. Given that she is over 35, that this is the first time that she will be a medical aid member and that in terms of the act, “A medical scheme may apply premium penalties …

Working daze?

I think SARS started it all with their 21 working day turnaround times for things like “verification of supporting documents”. Or 30 working days turnaround for disputes! And they claim to be “at your service”? Unfortunately, it hasn’t taken long for some of the dinosaurs of the financial services industry to follow their example.

Official logo of the South African Revenue Services (SARS)

SARS still employing delaying tactics

The tax ombudsman recently made damning findings about SARS unreasonably delaying paying refunds. SARS, of course, denied that there is anything malicious in this. However, experience seems to show that they are still very much applying stalling tactics in their desperate search for funds. 

8.5% per month in fees?

Am I reading this incorrectly or can it be that the monthly fee on this pension fund contribution is 8.5%? Can it be that R240 of every R2808 in contributions is being eaten up by costs? Every month? And this is before the fund fees? In 2017 with all the legislation that we have  – …

Tombstone engraved with RIP

The great funeral-cover rip-off: Part Two

A short while back, we wrote about what we see as the iniquitous selling of funeral policies to the poor and vulnerable. It’s our view that there’s a significantly better way to do it through the use of a properly underwritten whole-of-life policy.