Gigaba gives us a reality check
The one thing Finance Minister Malusi “Gigabyte” Gigaba cannot be accused of is giving off a false pretence that all is going smoothly on the fiscal front. Presenting his maiden budget speech (in an uncharacteristically boring suit), Gigaba departed from tradition and laid out the full extent of the state of South Africa’s fiscal position. And while this may not be welcome news to us all, it is far better to acknowledge one’s problems than pretend that they do not exist. Only seven months into the job, the old cliché of “do not shoot the messenger” may be apt. Focusing on the numbers, a couple of statistics presented in the Medium-Term Budget Speech immediately stand out. The fiscal revenue shortfall for 2017/2018 is an eye-watering R50bn, due to a lack of economic grow
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The key to a successful relationship with a financial advisor
The biggest risk to any investor’s money is often their own behaviour. Many studies have shown that, on average, investors receive lower returns than the funds they are invested in because they chop and change instead of sticking to a plan. “Investors know they should hold diversified portfolios, but many chase past performance and end up buying funds too late or selling too soon,” research house Morningstar noted in a recent study. “As a result they suffer from poor timing and poor planning.” Mostly this is a result of making emotional decisions or succumbing to personal biases. When the market falls, for instance, investors may panic and sell out at the bottom, locking in their losses. They then sit out until the market is up again, and only buy at the top. In
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Choose your executor with care
You will need to appoint an executor in your will. This person must have the technical expertise to administer the estate. If no executor is nominated in your will, the Master will appoint someone at their discretion. Estate administration is very complex and it is better to involve a professional person or institution to handle the matter on your behalf. The duty of the executor is vast and the more complex the estate, the more responsibility rests on the executor’s shoulders. What are the services of an executor? All admin regarding the estate. The distribution of your estate, according to your wishes. Protection of your business interests. Value assets and family heirlooms. The distribution of assets must be in exact accordance with the terms
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Understanding the ups and downs of a Will
What is the difference between a joint will and a living will? What exactly is a will? And what can make it invalid? We answer your frequently asked questions about wills. What is a will? A will is a written instrument that contains instructions to ensure your wishes are carried out legally and your loved ones are taken care of, and items of monetary and sentimental value are properly protected and distributed on your death. Anyone over the age of 16 years may make a will. The loss of a loved one is a very traumatic experience. It is at this time that one needs the love and support of family and friends. It is also a time when a multitude of tasks are presented and must be attended to. It is a time when professional assistance is a comfort and a must. If you pass away
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Wills 101
Ensuring you have a valid will can make all the difference to your family when you pass away. Without it, the laws of intestate succession come into play. This means your estate will be divided according to a specified formula by law. A will is a crucial part of your estate and financial planning, as it stipulates how you want your assets to be dealt with on your death. Proper estate planning will ensure your estate is set up in a tax-efficient way that not only benefits you during your lifetime, but also your beneficiaries after your death. It is worthwhile to get professional advice whilst drawing one up. Things to remember when drafting a will: • Keep the wording simple. • When referring to a person, use their full name and a short description, for example 'my n
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From Grant: Your journey to greatness starts here
What are your goals and aspirations? What future do you want? How much is enough? Are you living your greatest life? At The Wealth Room, our team of financial coaches work together with you to find the answers to these important questions. But first, who is The Wealth Room? Formerly known as HVZ Financial Consultants, we recently relaunched with a new approach to financial planning. My father, Herman van Zyl, established HVZ more than two decades ago, and as a result of his exemplary leadership and hard work, we could take the business to the next level. Our new vision is to help you achieve the future you want by focusing on your goals and aspirations. We aim to do this by putting you in control of your finances with our integrated wealth planning process. Over the years, HVZ has bu
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Blair Taberer interviewed by Grant van Zyl
Blair Taberer shares his insight as a successful businessman, discussing the highs and lows of owning your own business, starting up businesses and developing your passions. He shares his wisdom with us, shows the importance of learning from each endeavor and building on your knowledge through every experience that life may throw at you. Blair also discusses the importance of balance and finding your true happiness in life, be it in business, people, relationships, experiences etc. Enjoy this interview and learning from his handy tips.
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Is South Africa that bad after all?
Can you believe that we are in the year of 2015 already and how fast the years seem to be flying by?! I am sure that over the holiday season, you had at least one conversation with someone regarding the state that South Africa is in, and I am sure that that conversation didn’t have a very positive tone to it, after all that South Africans have had to endure in 2014. Let’s have a quick recap of the kind of year South Africa faced in 2014. For starters Eskom taught us how to be way more romantic, with candle light dinners every other night. We have learnt (or at least it seems so) to accept our president for all of his flaws and corruption charges. We learnt that the best way to combat a fire on your property is to build a big swimming pool. We found out that our president has spent ov
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The Wealth Room Disclosure letter
In the spirit of transparency and to ensure that you have the information necessary to make an informed decision in terms of our role as your Financial Planner, We would like to provide you with some background regarding The Wealth Room, The Financial Planners, as well as information required in terms of the FAIS Act no 37 of 2002. Full name of company: The Wealth Room PTY (Ltd) FSP licence: Number: 8866 Compliance officer: Etude Compliance ACCREDITATION From an accreditation perspective, The Wealth Room as well as all the Financial planners have written mandates with the following companies and are accredited to market and sell their products: Discovery Invest, Allan Gray, Cadiz, Marriott, Old Mutual Wealth, Private Wealth Securities, Investec & others Discovery
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