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Personal Finance with Ruan Jooste: The two-pot pension system
Last week National Treasury announced that it was postponing the the implementation of the proposed two-pot pension fund system by a year, following public consultations in September regarding the proposed system. Initiation is now set for 1 March 2025.
It makes sense as the final legislation has yet to be issued, and parliamentary approval is still required before the industry will have total certainty of what it all entails. And industry players who Personal Finance spoke with on this very podcast in the past, have said that there was no way they would be ready for implementation by March next year.
There is an extensive legislative process which still needs to unfold. The revised Revenue Laws Amendment Bill and amendments to the Pension Funds Act were only issued in June this year and pension fund players are still awaiting a final response document from Treasury before it can further clarify matters raised as part of industry submissions and through the parliamentary process.
Final legislation may only be available in early 2024, and much more engagement between industry and the Treasury, the Financial Sector Conduct Authority (FSCA), and the South African Revenue Service (SARS) are still required bodies throughout the process.
24 Oct 2023
Personal Finance with Ruan Jooste: Predicting investment risk
Predicting investment risk is challenging for a plethora of reasons, including the complexity of markets, the uncertainty factor, and of course basic human behaviour, As many industry experts and personal finance posts have professed, it is important to acknowledge that risk in the financial markets can never be completely eliminated.
Given these challenges, investors may employ various strategies to mitigate risk, such as di-ver-si-fi-cation and stress testing, but it is important to remember that these tools can only help manage risk and predicting investment risk with complete certainty will always remain elusive.
My guest today is Dr Adrian Saville, who I’ve begged to be on my show for many months, and he finally agreed to do so. Saville is a
Investment Specialist at Genera Capital, a family office outfit and professor in Economics, Finance, and Strategy at Gibs Boundless World. He also recently presented at the Fiduciary Institute of Southern Africa (https://www.fisa.net.za/) (or Fisa for short) annual conference on the foundations of Investment success. He said and I quote: 'Returns follow risk. Full Stop." And that is what we will be talking about today. The Building blocks required to build a wall of defence against risk.
18 Oct 2023
Personal Finance with Ruan Jooste: Girl Math
If you’ve never heard of the term Girl Math, neither have I until recently. It is a social media trend where young women (and Generation Z in particular) justify how they spend their money, especially on non-essentials.
The latest discourse to hit social media revolves around spending, consumerism and economics, both real and imagined. In some videos I saw, young women describe the logical manoeuvres that allow them to justify spending money on luxuries ranging from Botox (https://t.co/cUD3BPw6ho) to Beyonce tickets.
In the world of "girl math," cash is not real money, buying on sale is a form of saving and cosmetic procedure is an "investment in your future self."
"If I pay for something in cash, it feels like I got it for free," one TikToker explain (https://www.tiktok.com/@jazzybaby99/video/7265539608945921286)ed. Another example she shared? If she cancelled a manicure appointment, she now has that money to spend. Look this is the first time I’ve ever watched a Tik-Tok video and I’m a Boomer so I actually have no idea what these young girls are on about, but much of Personal Finance listeners are of the younger variety and it is important for us to cater to their needs.
So I got an expert to come and explain it all to me, and unpack the value proposition this trend holds for the fearless females of the future.
My guest today is Farzana Botha, a Segment Manager at Sanlam Risk & Savings. She has 17 years of industry experience and is currently working on her Honours in Integrated Organisational Communications through UNISA to add to her intellectual arsenal.
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