It always takes me by surprise when I find out just how long people manage to live with their money worries before seeking help. It’s almost as though they’re hoping their financial issues will be resolved automatically.
A financial advisor, or in more serious cases, a debt counsellor, should be able to help. After all, this is what they are trained to do. Naturally, as with any other service, there will be a cost involved. However, potential clients often balk at the cost, and choose to muddle on by themselves. Usually to their own detriment. Continue reading
As a somewhat public figure, I find myself fielding questions of a financial nature at the most random times. The latest one went as follows:
Question: Why is it so difficult to buy a second property? Continue reading
At a recent conference for self-employed accountants, someone asked, “Can you afford to live to 100?” Immediately they began looking up life expectancy figures, and concluded that the question was moot. What they did not understand is that life expectancy is increasing and in about ten years, the age in question may very well be 110. Continue reading
At a recent CCFM event, someone asked me whether I had ever been sued by insurers for my extreme statements.
Insurers do not always respond in a responsible manner when they first get a complaint and, over the years, I have taken about a dozen cases to the ombud. The outcome was favourable in each instance.
Here are some of my recent fights. Continue reading
At Northwood Financial Services CC, we encourage our clients to have a diversified portfolio of assets. One of these assets we refer to as an Emergency Fund.
An Emergency Fund, as the name suggests, is used to cover any expense that you haven’t budgeted for. Such as car or home repairs, holiday spending money, a deposit on your next property or even retrenchment. Continue reading
Advertisers have conditioned clients to focus on costs, which is generally a good idea. However, sometimes that is the wrong focus point.
For instance, if a short-term insurer promises the cheapest rates for cover, clients could be tempted to sign up without realising why their premiums are lower. Continue reading
In our country, financial planning is seen as gender neutral. The reality is that men and women are often not on an equal playing field and this approach can have serious consequences.
Generally, women live longer than men. This means the effects of inflation have a bigger impact on their retirement income, which is particularly concerning because women do not always earn the same as their male counterparts, which effects the amount of savings they are able to accumulate. Continue reading
Many first-generation yuppies have come to realise that they need to enter the property market. However, most of them find that getting a home-loan of between R1 500 000 and R2 000 000 is not always possible.
The creative ones usually find a way around this dilemma by purchasing a home in the R300 000 to R700 000 price range. The home is then used to generate a rental income. The rental is often sufficient to cover their bond repayments. This leaves many of them happy landlords.
Most women take on the role of caretaker in their family unit. This makes them more inclined to tend to everyone else and their needs first. Often to the detriment of their own.
One area that sees the most neglect is financial planning. When analysing a married couple’s Financial Needs (FNA), a good financial planner will work on the assumption that the marriage will end, whether because of death or divorce. Both these outcomes must be taken into consideration. Unfortunately, the female often comes off as second best. Continue reading
At Northwood financial services we have a panel of dedicated professionals that assist us and our clients with a host of different issues.
Recently I received an email from a home-owner. Having sold his property, he is now struggling to get occupational rental from the buyer who had taken early occupation. In this instance, it is much harder to help. Continue reading