Decoding insurance: What you need to know about your policies
In the latest episode of our podcast, host Maya Fisher French engages in an open and honest discussion about insurance, particularly focusing on long-term insurance and the often-overlooked area of employee benefits. Joined by certified financial planners Bryan Nicol and Johann Peens, the episode dives deep into the complexities of insurance coverage, highlighting the importance of understanding what you have vs what you actually need.
Most people have some form of long-term insurance, even if it is just through their company, but few understand what it covers and whether it is the right type of insurance for their needs.
Are you over-insured? Does your company provide life insurance and how does that work? Do you understand your premium pattern? Are you going to be able to afford your premiums in ten years' time?
Listen to this podcast, where we explain how insurance works and the right questions you should ask your employer and your financial adviser.
--------
55:48
From Tax Tables to Tax Breaks: How to make smart tax decisions
In this episode of "My Money, My Lifestyle," host Maya Fisher-French welcomes tax expert Andre Bothma to discuss the implications of recent tax proposals on personal finances as the new tax year begins.
Maya and Andre explore the concept of fiscal drag, where taxpayers find themselves paying more due to the lack of inflation adjustments in tax tables. They clarify common misconceptions about salary increases and tax brackets, emphasizing that the tax implication of earning more should not stop you from taking a salary increase. The conversation also touches on existing wealth taxes in South Africa, the impact of capital gains tax, and the notion that middle-class individuals often bear the brunt of tax burdens.
Listeners will gain insights into the complexities of tax compliance, the importance of making informed financial decisions without letting tax implications dictate choices, and the potential consequences of not adapting tax legislation to accommodate the growing self-employed and freelance workforce.
Join Maya and Andre as they unpack these pressing financial topics, providing listeners with valuable information to navigate their personal tax situations effectively.
--------
42:09
Unpacking the Budget: Taxes, Spending, and What It Means for You
In this episode of "My Money, My Lifestyle," host Maya Fisher-French engages in a deep dive into the complexities of the national budget and its implications for taxpayers with Chris Axelson, the acting head of tax and financial sector policy at National Treasury. As the government navigates the contentious landscape of tax collection, Axelson sheds light on the recent adjustments to the budget, including a shift from an ambitious VAT increase to more modest measures aimed at generating 28 billion rand in revenue.
They explore the delicate balance between raising taxes and maintaining economic growth. They discuss the implications of various tax instruments, such as personal income tax, corporate tax, and VAT, and how these decisions are made amidst pressures from both revenue needs and household impacts. Axelson explains the concept of fiscal drag and how it effectively raises personal taxes without changing rates, often leaving taxpayers unaware of the increase.
Listeners will gain insights into the priorities for the additional tax revenue, including funding for essential services such as education and healthcare, as well as the challenges of addressing corruption and inefficiencies within government spending. Chris also addresses the importance of tax compliance and the role of SARS in improving revenue collection.
Join Maya and Chris Axelson as they unpack these critical financial topics, providing listeners with a clearer understanding of how budget decisions affect their wallets and the broader economy.
1. Overview of the national budget and tax implications
2. The shift from VAT increase to alternative revenue measures
3. Understanding fiscal drag and its impact on personal taxes
4. Balancing tax increases with economic growth
5. Priorities for additional tax revenue allocation
6. The role of SARS in improving tax compliance
7. The complexities of government spending reviews
This podcast is in partnership with National Treasury.
--------
29:34
Retirement income strategies: life annuities vs living annuities in today's market
In this episode of "My Money, My Lifestyle," Maya Fisher-French has a thought-provoking discussion with financial expert Hugh Hacking of Momentum Corporate about the recent interest rate cuts and their implications for retirees and investors.
With prime rates dropping from 11.75% to 11%, the conversation unpacks how these changes affect both life and living annuities.
This episode explains how annuities work, how interest rates influence their pricing and attractiveness as well as the differences between life and living annuities.
Listeners will gain insights into the balance between guaranteed income and the risks associated with living annuities, including the potential for running out of funds during retirement.
The episode also highlights the importance of blending different annuity types to create a sustainable retirement income strategy. Hugh shares practical advice on how retirees can optimize their portfolios, manage costs, and ensure they have enough resources to cover unexpected expenses.
Join Maya and Hugh as they unpack these critical financial concepts, providing listeners with the knowledge to make informed decisions about their retirement planning.
Overview of recent interest rate cuts and their impact on retirement planning
Understanding life annuities vs. living annuities
How bond rates affect annuity pricing
The risks and benefits of living annuities
Strategies for blending annuities for a sustainable income
Importance of cost management in retirement planning
Final thoughts on securing financial stability in retirement
--------
27:37
A financial plan with one debit order
In this episode of "My Money, My Lifestyle," host Maya Fisher French interviews Adrian Hope-Bailie, founder of Fynbos Money, a new investment platform designed to simplify and reduce the costs of investing.
Adrian shares his journey of creating a platform that addresses the common question: "Where do I start investing?"
With countless unit trusts and investment options available, it is unsurprising that people feel overwhelmed by choice. The need to simplify choice and administration motivated Adrian to create Fynbos Money, which focuses on emergency and tax-free savings accounts.
The key behind the Fynbos Money model is that it allows users to set up a single debit order that allocates funds to various savings and investment goals, users can focus on their financial future without the stress of managing multiple accounts.
Listen to the full podcast, where Maya asks Adrian deeper questions about who is behind Fynbos Money, how they keep investors' funds safe, how they select funds, and their future plans.
1. Introduction to Fynbos Money and its mission
2. The common question: Where to start investing?
3. Importance of emergency funds and tax-free savings accounts
4. Unique features of Fynbos Money: automation and goal tracking
5. Understanding fees and the subscription model
6. Fund selection and investment safety
7. Empowering users for financial wellness
Fynbos Money sponsored this podcast
Talking all things money. Maya Fisher-French discusses the do’s and don’ts when it comes to your finances. To join the conversation send me an email via https://mayaonmoney.co.za/contact/
South Africa