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Optimising your retirement savings from 30 to 65 It’s a sad fact that South Africa has a terrible savings rate (0.5% to be exact) compared to the rest of the world and even our emerging market peers. Now, more than ever, South Africans must start prioritising planning and saving for their retirement! The experts at Fidelity Investments recommend that you should save at least 10 times your annual salary in 2023 for a comfortable retirement at 65. While this might seem challenging, especially in the current economic climate, it’s a crucial target to achieve! The latest Baseline Survey on Financial Literacy in South Africa paints a concerning picture: - [...]

6 ways to empower your savings journey Saving for the future is a great idea, but it often requires more than just financial commitment. It demands a mindset that keeps you motivated and on track to reach your saving goals. Whether you’re saving for a dream vacation, your child’s education, or a comfortable retirement, achieving a savings mindset can make a world of difference. The following are our top six ways to help you develop and maintain the right mindset for saving: #1 Name your savings goal The chance of you giving up on your commitment to save is much less when it has a specific name, like ‘Bongani’s [...]

Finding common ground financially when your love has grown coldNo one enters a marriage with plans to get divorced, yet many couples find themselves on this path as their relationships grow strained or insurmountable obstacles arise. During divorce proceedings, emotions often run high, and people make hasty decisions. They just want to get it ‘over and done with’.The hidden costs of divorceUnfortunately, the true financial toll of divorce usually only becomes evident after the dust settles. And the costs of divorce extend far beyond emotional distress! Below are some of the costs related to divorce: - The legal fees     - A senior family law attorney can cost between [...]