“Don’t save what is left after spending, but spend what is left after saving”
– Warren Buffet
South Africans are among the world’s worst savers (15.4% of GDP according to an article on Fin24 in 2015).
Far too often in the financial industry do we encounter clients who do not make the necessary provision for their needs:
Deposit on a house
Unexpected expenses / Emergency fund
Reasons for this can include a lack of discipline, living beyond your needs or not understanding the different products available to you.
At TVC we can help you understand the products available to you and recommend a product that will suite your lifestyle and address your needs.
A few examples of products and their benefits include:
Protection from creditors
Lower Income Tax and CGT for high income earners
Excluded from executors fees if beneficiary is appointed
Medium term investment
No fixed term
Can increase/decrease and stop contribution without penalty
Short-, medium- and long term investment
No tax is charged within the fund
Can draw tax free income from this product
No penalties on withdrawal, subject to market value
Long term investment over and above Retirement Annuity deductions.
Tax Benefit – Contributions of up to 27.5% of income can be deducted from taxable income (to a maximum of R 350 000 per annum)
Effect of compounding interest over a long term – Start ASAP!
Long term investment to replace income at retirement.
You will have access to funds from age 55.
*Note: Terms and conditions apply as disclosed in formal quotations/applications.
Call: 021 914 7480