Do You Give Your Financial Health as Much Focus as Your Physical Wellbeing?

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Vaal Triangle Insurance | Newsletter

May 2021

Do You Give Your Financial Health as Much Focus as Your Physical Wellbeing?

Around the world, people are eating healthier, exercising more and doing things like yoga and meditation to reduce their stress. Many people in their 40s report feeling fitter and more health conscious now than they were in their 20s.

However, few of us pay as much attention to our financial wellbeing as we do to spending time at the gym. And worrying about money can be just as detrimental to your health as a lack of exercise.

In this article we look at the idea of good financial health, and four steps to putting yourself on a sound footing.

How Safe Are Money Market Funds and What’s the Fuss About Absa’s?

Last month Absa announced that it is closing its Money Market fund. This is the third biggest unit trust in the country, so thousands of South Africans are going to be affected.

The reason Absa gave for closing the fund is that investors had the wrong idea about what the product was. A survey found that most of them thought their savings were guaranteed by Absa, which they were not. A money market fund, Absa pointed out, is a unit trust, and not a bank account.

So, what exactly is a money market fund, and should you be worried if you are invested in one?

Buying and Selling Property: Some Common Questions Asked and Answered

For many of us, our homes and perhaps also an investment property or two can be our most important assets. But the buying and selling process can seem to the layperson like a complex process, fraught with arcane terminology and risk.

Relax, help is at hand! To ease you into the process in clear and plain language, we ask (and answer) some common questions asked by both buyers and sellers.

We include a link to a simple but useful Guide from the Law Society of South Africa, with a discussion around why taking professional advice upfront is a no-brainer for both parties, plus we share some thoughts on planning your finances to avoid nasty surprises, and some pointers to common pitfalls.

Quote of The Month – Retirement Re-imagined

Patrick Sheehy, head of product management at Glacier by Sanlam:

“The way you think about retirement makes all the difference in ensuring yours is a successful and fulfilling one. To adapt and succeed, a change to our traditional mindset is necessary.

Retirement is a life stage, not a once-off event. It’s not something that just ‘happens’. How well you manage financially during this life stage depends on the plans you had in place during your working life i.e. how much you saved, and importantly, the plan you lay out for your retirement.

Your plan can’t be just about financials. It has to be holistic and structured within the means that are available to you. Holistic planning also takes into account how you manage your lifestyle, your own physical and mental stimulation needs, and those of your dependants. As these needs change, so will your plan.”




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Disclaimer

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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