I received another unsolicited email today from an operation called “savemoney.co.za” about a tax-free savings account.
It’s just Old Mutual in disguise and despite claiming to offer the “best tax-free savings account in South Africa” a little digging shows that this is VERY far from the truth.They are, in fact, ripping off poor, unsuspecting and ignorant people. Continue reading Talk about a wolf in sheep’s clothing
I recently watched someone using a leaf blower to clear their pavement. As I watched, it struck me what a pointless exercise it was and it crossed my mind that the leaf blower must be one of the most senseless machines yet invented. Continue reading It’s time to do the Mickey Blue (again)
A few years ago, during the National Budget Speech, government put a cap of R350k pa on retirement contributions. It appears that no one at treasury has given this much thought Continue reading It’s time that treasury stopped being short-sighted when it comes to the wealthy!
Am I the only one who dislikes Tax Free Savings Accounts (TFSA) and all the hype that goes with them?
Let’s take a step back before getting all excited about TFSA’s. They were introduced (by Government) to encourage non-savers to save and unfortunately, Continue reading The great Tax Free Savings Account con!
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 Continue reading A case for higher offshore weighting within a living annuity?
I remember reading this quote when I started in the financial services industry about 22 years ago and came across it again recently…it’s a timely reminder as we try to make the industry better for our clients.
I was not delivered into this world into 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 refuse to talk, to walk, to sleep with the sheep.
The slaughterhouse of failure is not my destiny.
I will persist until I succeed!
From the ancient scroll marked 111 in “The Greatest Salesman in the World” by Og Mandino, ironically!
Dear Old Mutual
If you are going to send me spam emails about your products then I have no issue reviewing and rating them! Please stop sending me unsolicited emails about your products! I don’t rate them and will not use or recommend them.
The Financial Coach
Continue reading Old Mutual Invest Flexible Plan – stay far away!
There are many with strong opinions about the merits of a share portfolio versus a unit trust portfolio. Here’s another one (strong opinion) in favour of a unit trust portfolio.
Continue reading UT or share portfolio
Let’s face it, we’re emotional beings (thankfully). We laugh at comedy and cry at tragedy. We give money more easily to beggars on cold and rainy days, or to mothers with young children than to single men on the side of the road. We buy things on sale (with money we don’t have) even though we don’t need them and yet we dump our investments when the markets go on sale.
Continue reading Emotional beings
I recently tried to make an appointment to see my doctor for my annual check-up only to be informed that he has left to “take a sabbatical”. Bottom line is that he is tired and has had enough and is going to do something else.
Continue reading Suck-session Planning