Most people like to think that they can make rational decisions. When it comes to their money, they believe that they can make choices based only on the facts.

But the human mind is so complex, and able to take in so much information, that often we aren’t aware of what is actually influencing us. For example, new research suggests that just the colour that something is written in can have an impact on our financial decision-making.

In this article we look at why we need to be careful about believing that we are always able to act rationally, and consider why one of the most repeated pieces of financial advice is also one of the most important.

One of the hardest parts of financial planning is thinking about what will happen after you pass away. We tend to be reluctant to plan for a time when we will no longer be around.

However, leaving a real legacy is a gift to your family and loved ones that will last long after your death. This is not just about money. It is about the way that you plan and involve others in the discussion. 

In this article we consider what it really means to leave a lasting legacy, and offer three practical tips to do this effectively.

“The future of money is digital currency” as Bill Gates put it, and certainly interest in crypto currencies - like Bitcoin, Ethereum, XRP, Tether, Polkadot and the many others popping up all the time - is surging dramatically. 

Of growing importance therefore is that anyone holding or planning to buy cryptocurrency needs to understand the tax angle, and by way of an updated warning to keep up to speed on this we point you to SARS’ new webpage on the subject for a “from the horse’s mouth” take on the whole question. 

SARS addresses questions such as what a crypto asset is, whether tax needs to be paid, how it will work (with an example of the 2020/21 tax year ITR12 Tax Return), and how it traces crypto asset transactions. 

Kondi Nkosi – Schroders:

“If in March 2003 you had invested $1,000 in the MSCI World and left the investment alone for the next 15 years, it would have been worth $4,211. Figures have not been adjusted for inflation or fees.

However, if you had tried to time your entry in and out of the market during that period and missed out on the index’s 30 best days, the same investment would now be worth $1,268, or $2,943 less.

Investors’ best bet is to be patient and give their investment time to grow.”