Cancelling a retirement annuity not only impacts the future financial stability but also carries significant tax consequences due to the deductible nature of contributions. An annuity serves as a crucial vehicle for retirement savings with tax advantages on...
Choosing between saving in a retirement annuity and investing in a rental property involves a careful consideration of the pros and cons, particularly when evaluating their performance in the long term. Retirement Annuity: One significant advantage of a retirement...
A retirement annuity is an investment for your long term financial future. It is the vehicle which will provide an income for you once you retire. South Africans do not have a safety net to fall into. You are on your own despite the number of years you have paid your...
A tax free savings account (TFSA) and a retirement annuity (RA) are excellent investments as they offer returns which are not taxed. This vastly improves the performance of the investment over time. Understanding the differences between the two will help to make a...
Yes, it is really important we understand that we need to save for the future. One day, some day, we will need to rely on our own investments to maintain our lifestyles. It’s just the way the world works. We spend most of our lives working to get through the demanding...