Certainly. Exchange-Traded Funds (ETFs) are popular for long-term investments due to their diversified nature. ETFs offer exposure to a wide range of assets, such as stocks, bonds, or commodities, which can help reduce risk. Some top choices for long-term investing include broad market index ETFs, sector-specific ETFs, and bond ETFs, as they provide potential for growth and income over an extended period while minimizing the risk associated with individual stocks.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 4years+ and I've netted over 2.8million.
Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Leticia up and send her a message. You've truly motivated me. God's blessings on you.
Even if the system is good in general, but stakeholders that will benefit in this set up is business financial institutions and government and keep on suppressing the workers.
Most will be looking to find new jobs before September. satafrika can't be trusted with our monies😂. This government is making us suffer. 😅...we are suffering today, not at 55 Suka😅😂😂😂. Most won't see 55 with all the stress of loadshedding, unemployment, black tax, inflation, corruption and crime.
people with 1o years service are better off than those who just started working before the system comes to effect, because each withdrawal from the savings pot reduces 4 months of your service, which will prolong you getting to 10 years and also restricting your pension's growth.
Im 44 years old with 19 years of service,but hey I'm not tempted at all,I feel like this could be just a way out government wants to chow our money,should you take that 30 K,taxed and you take home 22Ks,then come retirement time,and you look at that pocket it will look like you took 300ks.this will benefit amaqabane ka Thambo.
Nna I'm going to withdraw cause I'm not sho if I'll be alive at the age of 60. Just look at how beneficiaries chow our money when we are dead they even call it their money n Wena ur dead
I'm also surprised now.😮 My understanding was that the vested pot could be fully withdrawn from (subject to tax and tax free allowance) upon resignation before retirement.
Does this mean I can take my savings pot at 55 and still work in other word taking the 550000 tax free and still continuing with what's left of my pension working up to 60 years
No, the savings pot is always subject to tax when withdrawn from. It only falls under the total R550 000 tax exemption amount when it is taken at retirement. (Coupled with the totals of the vested pot). Plus when you take what's in your savings pot ,that amount gets added to your total earnings for that year and pushes up your tax bracket for that year accordingly. If you have as much as R550 000 in your savings pot when you choose to withdraw at 55yrs old, can you imagine how high that amount will take your annual earnings for that year and the astronomical taxes you will pay as a result. Also, what no one talks about is how withdrawing from the savings pot affects one's years of service as calculated in a defined pension fund. In this case , the monthly pension you receive after retirement is also affected (lowered) as the savings pot cash is also translated to service years lost. Edit: Also keep in that if you have at any time in the past resigned and taken cash from your pension fund, you have already used up ( either in full or partially) the R550 000 tax free allowance.
Is not meant to help us,if it was the case,we were supposed to get a certain amount from the money you already accumulated,like if you have 600k,maybe get your 150Ks,not this nonsense of everybody will get 30Ks,it's just ANC shenanigans to eat out money and they tried before to borrow from our GEPF and failed,saying they want to help Eskom
I'm also contributing to my private Retirement anuity.How will it affe ct my finances when I retire after September .I planned to transfer my pension fund into Retirement anuity .My contact is that they pay 1/3 one third the rest monthly pay
I hope you are using bank for retirement anuity cz this other staff like old mutual, sanlam,metropolitan etc ,to get ur money from them its a big problem.
If i retired in 2016 do this rules apply to me or can i get all my provident fund as the rules set down by NUMSA and SIEFDS when the provident fund were introduce
Accessing of the funds on the saving pot, is it annually? Ones a year every year? If I withdraw R30 000 this year, will I be able to withdraw the same amount on the following year?
If I recall it is according to your tax rate. Yes, you're correct. Under the Two-Pot Retirement system in South Africa, when you choose to withdraw from your retirement savings, it is subject to tax according to your individual tax rate. However, remember that the portion withdrawn before retirement may be counted as part of your taxable income for the year it's withdrawn, which could possibly put you into a higher tax bracket. Retiring should ideally be a time of relaxation and reward for years of hard work. So, planning wisely around tax matters can help ensure you make the most of your retirement funds. 💰👌 Remember, details regarding taxation can varied and sometimes complex, hence, you may want to consult with a financial advisor or tax specialist for personalized advice. Keep asking great questions!
From what I have read on GEPF document vested port will continue to be governed by old rules, meaning when you resign you will get it together with savings port.
The R30K is the limit that will be used to “boost” the savings component. So it’s 10% of your existing fund capped at R30K. You can withdraw the whole R30K but remember you won’t get all of it because of Tax
@@mbuyixeketwane5481this is just another way of the government to benefit from tax payers. The unfortunate part is many people will be opting for the -R30k which will be taxed because people are highly indebted 😢
This disaster will prove to be the downfall of millions of South Africans.... People are going to withdraw half of their pension savings to buy BMWs, which they won't be able to afford to insure, maintain and service.... They will retire with very little and be dependent on a bankrupt state....
