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
Dealing with insurance companies when trying to settle a claim is a nightmare many of us can attest to. The experience leaves many clients disillusioned, and they tend not to involve their insurers if the damage to their property is minimal.
In two recent incidents, involving MiWay and Auto & General clients, the claimants had no choice but to claim. The accidents were caused when they were rear-ended while stationary at a traffic light. They had done nothing wrong. The vehicles were towed to these insurers’ approved panel beating workshop after the collision. Four weeks later, repairs still hadn’t started on either vehicle. Continue reading
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
The looming recession has come as bad news to South Africa’s unemployed job-seekers.
Only 21 377 000 of South Africans aged between 18 and 64, feel they have the potential to be economically active, and 26.6% of them are unemployed.
This figure now seems set to rise, and business owners are losing optimism.
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
The 2017 banking report generated by the South African Customer Satisfaction Index (SAcsi), an independent survey done on a national scale, makes for interesting reading. The latest report was compiled using data provided by 17483 banking customers. Continue reading
Have you ever considered what would happen if you paid funds into the wrong bank account when transacting online?
Well, for the average consumer, it means that you’ve potentially given away your hard earned cash. When transacting online, only the account number is verified. Continue reading
The last blog touched on how Northwood protects clients’ wealth by adding diversity to the unit trust investment portfolios on offer. This week, we will look at creating wealth by adding more diversified investments.
Our clients know that when it comes to investments, we prescribe to the “don’t put all your eggs in one basket” philosophy. We seek to add value and diversity to all our client’s portfolios to creatively manage risks.
When you make an Off-Plan purchase, you are essentially buying a home that does not yet exist. There are quite a few details which need to be verified before you decide to go ahead. Continue reading
At certain times of the year, we as consumers are encouraged to spend money. The festive season in December is by far the biggest financial drain. Then January rolls around, and if you have kids, you are met by all the ‘back to school’ expenses. Next, Valentine’s Day arrives, and before you know it you’re buying Easter eggs!
During these times, we are prone to Reckless Spending, often on a credit card. We all know the symptoms: The holidays and special events come, causing us to reach for our credit cards more often than we should. We end up swiping, sometimes without even keeping track of how much we’ve spent.