2.6.2020 09:15 am
A secured loan may be the option for you.
Q: My father bought a property some years ago with the title deed in my name. He receives the rental income from this property and provides the necessary taxable amount to pay to Sars [South African Revenue Service]. I’ve been saving over the past couple years and have enough saved – R100,000 – for a decent deposit. My father has suggested that I could take out a home loan for the remainder of the amount and ‘purchase’ the property from him at the current fair market value of R500 000. The property is already tenanted so I think this is a good deal.
A Moneyweb reader asked: ‘I got retrenched in 2019. I am currently a paid-up member of my ex-employer’s pension scheme. I haven’t preserved or cashed my pension as yet. Can I lose my pension during this crazy coronavirus period? What would be better to do – cash or preserve – under the current unusual circumstances?’
Retirement annuities, living annuities – any investment decision should be considered within the requirements of a financial plan.
In the current environment you may find that it comes within the price range of more buyers, but there are a number of factors to consider.
NewGold and 1nvest Gold have issued new stock to meet demand from investors.
It is not as simple as skipping three payments and then adding three.
If you do not have insight into each other’s financial affairs, a medical emergency or tragedy can blindside you financially.
Being a tax swallow can help you save enormous amounts in current and future taxes.
With lockdown under way in South Africa and extra time with your children, grab this opportunity to spend some of the time teaching your children about money.
The reality is that no one is safe from the possibility of contracting the coronavirus and all of us must ensure that our finances are ready in case of a healthcare emergency.
It wouldn’t be wise to put yourself in debt to fund an offshore investment.
There are several factors that need to be considered before embarking on your investment journey.
Maya Fisher-French says the banks themselves have not been advertising these facts, and the one bank she spoke to apparently needed a timely reminder itself.
When it comes to numbers and retirement, the digits that enjoy the most attention in retirement planning is your retirement number – the amount you would need to have in retirement savings to enjoy a comfortable old age.