The Woman & Finance Podcast

Send us a textWhile 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.

Send us a textIn this episode, we dive into the world of retirement planning with Johann Steyn, a certified financial planner at Rainmaker Bluestar by Sanlam. As retirement draws near, having a well-thought-out financial strategy becomes more crucial than ever. It’s not just about understanding where you stand financially but also knowing how to make the most of your tax options. Johann shares valuable insights on getting retirement-ready, whether you’re five years away or just one. He stresses the importance of setting realistic goals, understanding the legislative landscape, and assessing the purchasing power of your hard-earned money.One of the standout conversations is about creating a solid retirement budget and the need to clear your debts before retiring. Johann also breaks down the significance of knowing your expenses and preparing for what it might take if you dream of early retirement. We address some common misconceptions, like the difference between taking a lump sum or an ongoing income and how your life expectancy plays a major role.We also explore various retirement products, including living annuities and life annuities, and discuss when each might be the best fit. Johann sheds light on the advantages and risks, from market volatility to the idea of a hybrid approach, while emphasizing the importance of keeping a medical scheme in place, especially given the rising inflation of healthcare costs.And of course, we touch on how tax-free savings accounts can complement your retirement plan. Johann shares how these accounts can be a smart way to provide tax-free income later on.Tune in for this comprehensive discussion on retirement planning and get equipped with the knowledge to secure your dignity and independence during your golden years!

Send us a textIn the last two episodes, we explored saving and investing for goals we aim to achieve during our working years. However, there comes a time when we want to relax and retire, or at least have the option to choose whether to keep working or not.One of the major challenges with retirement funding is that people are living well beyond the traditional retirement age. Many companies set retirement at 60, yet with life expectancy nearing 90 years, that leaves us with around 30 years of retirement to fund.There are really only two ways to address this: either start saving 18% of your salary from your very first paycheck, or delay retirement until 65. Even in that case, saving at least 15% of your income from the age of 25 is necessary to retire comfortably. Many people still find they need to supplement their retirement income, and in the next episode, we'll dive deeper into retirement strategies. In this episode, however, we discuss “how much is enough,” the importance of paying off debt before retirement, how to invest for retirement, and the different investment products available.We also cover the introduction of the Two Pot retirement system and its impact on retirement planning outcomes.

Send us a textIn our last episode, we focused on saving for those shorter-term goals, but today we’re diving into those medium to longer-term ones—like funding your child’s university education in 10 years, leaving a financial legacy, or maybe even starting your own business. So, how do you begin?We kick off by emphasizing the importance of setting clear and realistic financial goals. We provide a real-world example of how to calculate future education costs, demonstrating how inflation can dramatically increase the amount you need to save over time.One of the key lessons in this episode is understanding the difference between interest and growth. While interest is a guaranteed return you get from a bank, growth comes from investing in assets that increase in value over time. We talk about how unit trusts and ETFs are great tools for growing your capital.We also spend a good portion of the episode discussing tax-free savings accounts (TFSAs). Since their introduction in 2015, TFSAs have been an excellent tax-efficient way to save and invest. We highlight how they can be a smart choice for long-term goals like saving for your child’s education or even adding to your retirement pot. It’s important to view them as long-term investment vehicles, not just regular savings accounts.We also explore the idea of investing offshore, showing how you can access global markets through local funds that invest abroad. For those looking to diversify and build assets outside of South Africa, local companies offering offshore investment products are a good place to start.Lastly, we caution against using endowment products for education savings. These often come with high fees and tax complexities that aren’t always in the investor's best interest. Instead, we advocate for simple, low-cost options like TFSAs and unit trusts.