Tailoring your insurance needs to your business is critical especially during volatile times. Whether an entrepreneur, dentist, lawyer, accountant or even a marketing professional, as a small business owner working to win over clients and make your business a success, it’s absolutely vital not to lose sight of protecting your most valuable financial asset – yourself. While big companies generally have a succession strategy in place to ensure continuity should the unexpected strike, as a small business owner you hold the reins. You therefore need to consider how best to protect your personal a ..read more

Savings Month is here and as we see every July, many South Africans are taking the opportunity to review their savings habits and behaviours. One aspect that’s often overlooked is that your hard-earned savings gains can easily be undone by failing to pay sufficient attention to estate planning. “Even if all your retirement goals fall into place as planned, the benefits can be easily undone through a careless estate plan,” says Willie Fourie, head of estate and trust services at PSG Wealth. “An incorrectly worded will or incorrectly used estate planning structure may result in a substantial po ..read more

The chances are, if you’re older than fifty, you’re probably thinking about planning for your retirement right? If you’re only just making ends meet now, how will things be for you when you retire? Questions you may ask yourself before retirement What if my retirement nest egg isn’t large enough?Will I be able to keep working after I reach retirement age?What sort of income will my million Rand pension fund buy me?What if I run out of money? Who will look after me? The issue most of us face right now is this: We spend our working years being taken care of by our employers. They pay us a salar ..read more

They say two things are certain in life – death and taxes. But if there’s one thing the ‘Life Surprises’ survey conducted by Sanlam a while ago has taught us, it’s that life will also throw us some curveballs. This survey, conducted among South Africans over the age of 50, found that 78,5% had faced at least one unexpected life surprise. It also found that the events felt most severely – both financially and emotionally – had financial implications, such as loss of savings, a business closure or a retrenchment. The survey also showed that most people weren’t well prepared for these events. He ..read more

Education inflation continues to outpace headline inflation The cost of private education can place a significant burden on household finances. Start saving early. A recent Discovery paper shows that the average cost of private schooling can easily top R1.5 million per child. * Average public tertiary education costs Source: Discovery Life Yet, according to the Old Mutual Savings and Investment Monitor 2017, 56% of South Africans are not saving for their children’s education. While quality education is key to unlocking South Africa’s growth potential, it can also significantly improve a chil ..read more