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1. Get Married in Community of Property

2. Take on Credit in Your Name for Someone Else – redflag!!!!!

3. Lend Money to Friends and Family

4. Ignore SARS!

5. Give Up Your Power – Don’t Be a Damsel in Distress

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While previous episodes have focused on building wealth, this time we’re shifting the conversation to succession planning and creating intergenerational wealth. How can you protect your family while ensuring your assets benefit future generations?

Joining us is fiduciary expert Moremadi Mabule, who sheds light on wills, estate planning, and the crucial yet often-overlooked tax implications that arise upon death.

Estate planning isn’t just for the wealthy—it’s about making sure your hard-earned assets are effectively passed on. Moremadi breaks down critical aspects, such as estate duty and executor fees, which can reach up to 4% of your estate's value. She also shares practical strategies for reducing these costs, including negotiating fees and planning for taxes.

We also discuss the importance of updating retirement fund nomination forms and understanding how these benefits are treated differently from other estate assets. Moremadi explains how tools like testamentary trusts and beneficiary funds can safeguard your children’s inheritance and ensure it’s managed responsibly. Additionally, we delve into selecting a guardian for your children and structuring your will to provide for them financially.

Lastly, we touch on the value of a living will—an essential document that communicates your wishes should you become incapacitated.

Join us for this eye-opening episode, where we outline the steps to secure your legacy and ensure your wealth supports the people who matter most.

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In this episode, we guide listeners on breaking free from debt reliance by establishing a solid savings plan. We explore the importance of saving, what goals to aim for, and the necessity of an emergency fund—why it’s crucial and how to create one. Contrary to common belief, a credit card should not be mistaken for an emergency fund!

We share practical tips for building an emergency fund and discuss the advantages of having a financial safety net for unexpected expenses. We also review the different types of accounts suitable for emergency savings and consider whether incorporating your mortgage as part of your financial buffer is a good idea.

Additionally, we provide insights on how to save for school fees and daily school-related expenses, as well as how to support your parents in building a home without accumulating debt.

By planning and saving for these costs in advance, you can avoid the pressure of last-minute financial emergencies.

#podcast #savings #investing