The formula for a comfortable retirement involves saving 15% of your income over a 40-year working life. Saving just two-thirds under the two-pot system (10%) means a much lower standard of living in retirement. But if you have the luxury of time, there may be a way to work the new system to reach both short- and long-term goals. #SmartAboutMoney #financialeducation #twopot #twopotsystem #twopotretirementsystem #retirementplanning #retirement Paul Hutchinson, John Anderson
Smart About Money
Financial Services
Cape Town, Western Cape 474 followers
SmartAboutMoney.co.za empowers you to make good financial decisions.
About us
SmartAboutMoney.co.za is a consumer financial education website that aims to empower all South Africans to make good money decisions. An initiative of the Association for Savings and Investment South Africa (ASISA), the website provides consumers with accurate, unbiased, plain-language information about regulated financial products and services. Users can also use the site’s calculators to test financial decisions about paying off debt, saving or drawing an income in retirement, without signing up for someone to contact you or being enticed to buy financial products. SmartAboutMoney explains the products and services in the savings and investment, life assurance industries and financial planning industries, but plans in time to expand into all areas that affect consumers’ personal finances. While the site aims to empower consumers to take charge of their financial situations it also actively encourages users to use their newly gained knowledge to have a meaningful discussion with their financial advisers. The comprehensive educational material has been developed by Laura du Preez, one of South Africa’s most experienced personal finance journalists. The content has been checked for accuracy by ASISA’s senior policy advisers (subject matter experts in their own right), ASISA member representatives and many other experts where relevant. In addition, all educational content also carries the approval of the ASISA editorial committee.
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http://www.smartaboutmoney.co.za
External link for Smart About Money
- Industry
- Financial Services
- Company size
- 2-10 employees
- Headquarters
- Cape Town, Western Cape
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- Nonprofit
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Primary
Cape Town, Western Cape, ZA
Employees at Smart About Money
Updates
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The two-pot retirement system DOES NOT mean you will get R30 000 a year from your retirement fund. Seeding of 10% of your retirement fund balance up to R30 000 will be a once-off event. Thereafter the amount you can withdraw depends on how much you have saved in the pot – the amount that was seeded (which could amount to less than R30 000), one third of your contributions from 1 September 2024, growth on those savings less any withdrawals. Read more in Smart About Money’s two-pot FAQs (https://lnkd.in/dSkfUT3M) and visit our two-pot retirement section (https://lnkd.in/d4NRtE8E). #smartaboutmoney #financialeducation #twopot #TwoPotSystem #retirementplanning
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Enterprise and supplier development programmes have benefitted many woman- and black-owned businesses. Could you or someone you know benefit from one of these programmes? Our latest article explains how these programmes work. #smartaboutmoney #financialeducation #SMEs #businessgrowth #StartupLife #growth Rene Botha
How an enterprise and supplier development programme could help your SME
smartaboutmoney.co.za
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The two-pot retirement system DOES NOT mean everyone will get R30 000 from their retirement fund. The amount you can withdraw depends on what is in the pot. Have you been getting information from the wrong sources? Get the right information from the right sources. Read Smart About Money’s two-pot FAQs and visit our two-pot retirement section. https://lnkd.in/d4NRtE8E #SmartAboutMoney #financialeducation #twopots #twopotsystem #retirementplanning
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The best advice about starting to save early is typically ignored as so many young people are competing with other spending priorities. And saving for 30 years rather than the last 20 before retirement sounds like it is really stretching things. But actually, most of us need the long runway to ensure our savings reach our goals and fail to appreciate just how much starting earlier harnesses the power of compound interest. Tarryn Jansen Van Rensburg, Fiscal Private Client Services #SmartAboutMoney #financialeducation #savings #investing #compoundinterest
Why procrastination costs you twice
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The two-pot retirement system DOES NOT mean money will be paid into your bank account on 1 September. You have to apply for a withdrawal and it could take days. Have you been getting information from the wrong sources? Get the right information from the right sources. Read Smart About Money’s two-pot FAQs https://lnkd.in/dSkfUT3M and visit our two-pot retirement section https://lnkd.in/d4NRtE8E. #smartaboutmoney #financialeducation #twopot #TwoPotSystem #retirement #retirementplanning
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Many individuals overlook the significant financial impact that the death or disability of a primary income earner can have on their families. While you are still in good health, consider providing your loved ones with crucial financial protection. Establish comprehensive coverage now to ensure they are financially secure in the event of an unforeseen circumstance. #smartaboutmoney #financialeducation #insurance #lifeinsurance #disabilityinsurance #familyfirst
What is long term insurance?
smartaboutmoney.co.za
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For those who want to become business owners by buying into an established brand, franchising is a viable option. Before you start exploring, it is useful to have a basic understanding of what this route to business ownership entails. Our latest explainer provides the basics of how it works. #SmartAboutMoney #financialeducation #smallbiz #franchise
What is a franchise and how does it work?
smartaboutmoney.co.za
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Claims denied by life insurers often get more attention than those that are paid. But life insurance statistics show billions are paid to families who lose breadwinners or for funerals each year. Claims that are denied stop fraudsters and the dishonest. Some claims are denied because cover was excluded or subject to a waiting period. Anyone purchasing insurance should be fully aware of these terms, as demonstrated by cases reviewed by the ombudsman. #smartaboutmoney #financialeducation #insurance #lifeinsurance
Life insurance pays, but only by the rules
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Are investment managers just climbing in on the trend when they claim to invest with an environmental, social and governance (ESG) focus? Or are there really good reasons why you should always pick a manager that has an ESG focus when it selects investments for you? Is investing with an ESG focus like boycotting products? And what should you expect when it comes to the returns you earn. Our latest article provides an easy introduction to ESG and investing topic. #SmartAboutMoney #financialeducation #ESG #investing Siobhan Cassidy
How profit and purpose are enmeshed in investing
smartaboutmoney.co.za