In the following video i sit down with Jimmy to talk about the Two point retirement system and what you should be doing
Пікірлер: 144
@WallaceM.Hilliard4 ай бұрын
Certainly. Exchange-Traded Funds (ETFs) are popular for long-term investments due to their diversified nature. ETFs offer exposure to a wide range of assets, such as stocks, bonds, or commodities, which can help reduce risk. Some top choices for long-term investing include broad market index ETFs, sector-specific ETFs, and bond ETFs, as they provide potential for growth and income over an extended period while minimizing the risk associated with individual stocks.
@Glen.Murphy84 ай бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 4years+ and I've netted over 2.8million.
@JanMuench4674 ай бұрын
Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
@Glen.Murphy84 ай бұрын
Leicia Zavala Perkins is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
@KianShah1464 ай бұрын
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Leticia up and send her a message. You've truly motivated me. God's blessings on you.
@edwardbhengu78643 ай бұрын
Since this is affecting workers I believe that we should have a referendum to accommodate the worker's view.
@damonblake04 ай бұрын
This was an amazing show, I would wish for the next show to talk more about marriage, finances, and debts.
@FinancialBunny4 ай бұрын
Let me see if I can get Bellz
@michaelhlongwane6973 ай бұрын
Great show Nicolette, I am learning a lot from you. Your knowledge is out of this world. You blow fish out of water. Keep it up lady.
@nomfundokamtungwa71933 ай бұрын
I heard nothing 😭😭I need this explained to me like I'm 5 years old..
@Njabulo_Mthethwa3 ай бұрын
Kushawa edonsayo, this is very informative. SARS is going to make a lot of money
@TalkingMoneyWithNozi3 ай бұрын
Absolutely. Government is going to milk those withdrawals
@FinancialBunny3 ай бұрын
Thats why they arent discouraging them
@nomalungelongcete58753 ай бұрын
@@TalkingMoneyWithNozi Ewe
@diphalepashe53613 ай бұрын
True Sars is a lion it roars for every sent we gain
@lethu64134 ай бұрын
A guest I'm actually familiar with thanks to SAFM 🎉 Jimmy is a gem 💎
@penuellmatlala3213 ай бұрын
The curveball is in losing a job before 55, struggle to find another one & can't get all your money
@nomalungelongcete58753 ай бұрын
Yhooo 😮
@LindaPillay-se1rq3 ай бұрын
Im goin be 55 in oct im taking all my money out. I dont want no pot. God will provide.😊
@SiyaJola3 ай бұрын
😂😂 lucky you.
@matriciamoses27 күн бұрын
Remember it's only 5 years money 🤔 i think the catch is after the 5 years you eating the Government 🤝🤞
@malebtop97203 ай бұрын
Why are we being controlled over our monies that we worked hard for I want to withdraw r100k mos we are in so much debts😢😢😢😢
@mohalephanuel58008 күн бұрын
Good information, morwa wa Moyaha...re botje ka setlokwa
@edwardbhengu78643 ай бұрын
Even if the system is good in general, but stakeholders that will benefit in this set up is business financial institutions and government and keep on suppressing the workers.
@ladyr87444 ай бұрын
Great video. So informative. Thanks Financial Bunny and Jimmy.
@kimkaans10723 ай бұрын
Most will be looking to find new jobs before September. satafrika can't be trusted with our monies😂. This government is making us suffer. 😅...we are suffering today, not at 55 Suka😅😂😂😂. Most won't see 55 with all the stress of loadshedding, unemployment, black tax, inflation, corruption and crime.
@buhlesihlali3 ай бұрын
Thanks Nicolette for yet another educational segment❤
@LumkaJwara4 ай бұрын
Lol im going to pretend that money doesnt exist 😂😂 . I pray I never have a need for it. Because no way SARs is chowing that money so early
@nomalungelongcete58753 ай бұрын
That's a good idea
@chubsmash76024 ай бұрын
Amazing video, dankie kakhulu, very informative. I think we need to start thinking about the next steps now.
@ayandal47443 ай бұрын
You're appreciated Nicolette.
@nthabisengletsoalo41942 ай бұрын
So the vested and retirement pots cant b touched...till 55+yrs.only savings can be accessed per year with tax
@isaacmorake3602Ай бұрын
VESTED CAN BE TOUCHED AS WELL
@masabathatsenase44443 ай бұрын
Day light robarry, this money was taxed now. I want it. They taxed it again, xaaa sokaman😢😢I can't wait to withdraw muulaaa
@kgaugelomakgatho56883 ай бұрын
It wasn't taxed, it's only taxed when you withdraw and when you receive the annuity payments
@tlp34823 ай бұрын
Imagine being retrenched and having people tell you, you cannot access your pension
@Falcon2024-u2i3 ай бұрын
This is absurd, how can one survive while waiting to get another job if you are still within the employable age. Will UIF sustain me until I'm 55😢
@v12productions_3 ай бұрын
Thank you for clarity on this 2pot system.. rsa is risking with people's cash 😢
@nomalungelongcete58753 ай бұрын
Of course
@siyathembasiazmatshaya70743 ай бұрын
Im 44 years old with 19 years of service,but hey I'm not tempted at all,I feel like this could be just a way out government wants to chow our money,should you take that 30 K,taxed and you take home 22Ks,then come retirement time,and you look at that pocket it will look like you took 300ks.this will benefit amaqabane ka Thambo.
@TheycallmeBanie3 ай бұрын
Nna I'm going to withdraw cause I'm not sho if I'll be alive at the age of 60. Just look at how beneficiaries chow our money when we are dead they even call it their money n Wena ur dead
@levit8jackpotslotsАй бұрын
Thank you for clarifying so many questions out there. 😊
@MrVinnyVp3 ай бұрын
The comment she made at 16:46 was felt by every working class citizen! 😩
@davidmotlaloe56283 ай бұрын
I should resign before vbs ports beginn.
@Mketsi27084 ай бұрын
Thank you for this c'thandwa sam ❤
@keolebogilesolomons9330Ай бұрын
Tnx Nicolette for the important advice/information.
@user-cv2yr1hu9r2 ай бұрын
This was very helpful. Thank you
@PalieXb2 ай бұрын
Very informative show, but I'm curious. Does this two pots retirement system applies to Retirement Annuities as well?
@johnroman46084 ай бұрын
Nee jiirrrrre we in a quagmire here ! 😮
@anatiicabashe4 ай бұрын
That was insightful. Thank you Jimmy! 🫡
@knackstogether27138 күн бұрын
Thank you.
@sandilejobesithole54753 ай бұрын
Great show but can you please put time stamps next time.
@thilonaicker64644 ай бұрын
Excellent , thank you
@FinancialBunny3 ай бұрын
You are welcome!
@AlinaMoney3 ай бұрын
My understanding of the vested pot is that one can withdraw from it when they change jobs. What cannot be withdrawn is the 66%.
@nkulihadebe_wieners3 ай бұрын
I’m of the same view about the vested pot, that’s it will not be affected by the new system.
@dabeezkneez871616 күн бұрын
I'm also surprised now.😮 My understanding was that the vested pot could be fully withdrawn from (subject to tax and tax free allowance) upon resignation before retirement.
@nkulihadebe_wieners6 күн бұрын
@@dabeezkneez8716100%
@tshepisomokhema83914 ай бұрын
What I’m getting from this is that it’s not worth making a withdrawal
@FinancialBunny3 ай бұрын
Not unless you need it
@KofuJuiceBar3 ай бұрын
Yes, 100% correct! SARS stands to benefit from this in my opinion.
@nomalungelongcete58753 ай бұрын
Yhooo I fear uSARS
@OdwaKoka21 күн бұрын
If you have about R40000 and you get affected by retrenchment, how much will you be able to get from that R40000?
@booysencharndro20 күн бұрын
What happens if I'm resign by November 2024. Will government keep n third of my quarter of my pension?
@donnyscott62274 ай бұрын
Does this mean I can take my savings pot at 55 and still work in other word taking the 550000 tax free and still continuing with what's left of my pension working up to 60 years
@luckyndlovu29264 ай бұрын
Yes
@dabeezkneez871616 күн бұрын
No, the savings pot is always subject to tax when withdrawn from. It only falls under the total R550 000 tax exemption amount when it is taken at retirement. (Coupled with the totals of the vested pot). Plus when you take what's in your savings pot ,that amount gets added to your total earnings for that year and pushes up your tax bracket for that year accordingly. If you have as much as R550 000 in your savings pot when you choose to withdraw at 55yrs old, can you imagine how high that amount will take your annual earnings for that year and the astronomical taxes you will pay as a result. Also, what no one talks about is how withdrawing from the savings pot affects one's years of service as calculated in a defined pension fund. In this case , the monthly pension you receive after retirement is also affected (lowered) as the savings pot cash is also translated to service years lost. Edit: Also keep in that if you have at any time in the past resigned and taken cash from your pension fund, you have already used up ( either in full or partially) the R550 000 tax free allowance.
@Lungi_Mgwaba4 ай бұрын
Hi Nicollette, can I just leave everything as it is. Just continue to contribute monthly without doing anything to my retirement fund?
@FinancialBunny4 ай бұрын
Yes Ma’am
@thabs44284 ай бұрын
Does this two pot retirement system apply to a pension preservation fund that one is no longer contributing to after resignation?
@malebtop97203 ай бұрын
Wanna know what will happen if I resign
@nomalungelongcete58753 ай бұрын
I am also interested as I don't think is a good idea to resign
@sizwetraveladventures3 ай бұрын
Interesting. I would like to hear your views about finance and marriage one day when you guys are both married. Thanks for the discussion
@FinancialBunny3 ай бұрын
Thanks for the idea! Let me see if in the meantime i can get someone who can discuss finances and marriage with me
@sizwetraveladventures3 ай бұрын
@@FinancialBunny Thanks
@lionelmabone8264 ай бұрын
Very Informative
@FinancialBunny3 ай бұрын
Glad you think so!
@unarineraphulu5754 ай бұрын
Is this system meant to help us or just another money making skeem sars cooked
@siyathembasiazmatshaya70743 ай бұрын
Is not meant to help us,if it was the case,we were supposed to get a certain amount from the money you already accumulated,like if you have 600k,maybe get your 150Ks,not this nonsense of everybody will get 30Ks,it's just ANC shenanigans to eat out money and they tried before to borrow from our GEPF and failed,saying they want to help Eskom
@nomalungelongcete58753 ай бұрын
@@siyathembasiazmatshaya7074not to help at all instead SARS will benefit a lot
@danielmosala35064 ай бұрын
Accessing of the funds on the saving pot, is it annually? Ones a year every year? If I withdraw R30 000 this year, will I be able to withdraw the same amount on the following year?
@frederickhefer34424 ай бұрын
as long as its not more than 10% of your savings pot.
@siyathembasiazmatshaya70743 ай бұрын
You will get 30k taxed maybe going home with 25K,then every year you can only apply for R2000.
@malebtop97203 ай бұрын
Aaaai daylight robbery
@crystalballakistan93Ай бұрын
I will be 60 iin October 2024. I have more than 10 years service. If i retire will i get all my money as a lumpsum?
@vernonrich72023 ай бұрын
If i retired in 2016 do this rules apply to me or can i get all my provident fund as the rules set down by NUMSA and SIEFDS when the provident fund were introduce
@leratolouw91629 күн бұрын
I'm also contributing to my private Retirement anuity.How will it affe ct my finances when I retire after September .I planned to transfer my pension fund into Retirement anuity .My contact is that they pay 1/3 one third the rest monthly pay
@evancemashita1257Күн бұрын
I hope you are using bank for retirement anuity cz this other staff like old mutual, sanlam,metropolitan etc ,to get ur money from them its a big problem.
@evancemashita1257Күн бұрын
One of my colleague is still waiting for his money from old mutual since 2019 upto date
@EmilyKhoabane-kp3je19 күн бұрын
English is not my mother tongue,they need to explain this in our language.
@lisalawrencevuso56723 ай бұрын
Great show. Are the withdrawals taxed using the SARS tables?
@diphalepashe53613 ай бұрын
Yes each withdrawals Sars is there hungry
@ntavhanyenimudau483121 күн бұрын
Is it allowed to just withdraw just once and never again?
@hamiltonmolepo29833 ай бұрын
Very informative sessions, more of this please kgaetsedi
@thesobetwafamily11874 ай бұрын
Many thanks Nicolette ,very informative 👍
@FinancialBunny3 ай бұрын
You’re welcome 😊
@EllaLetseng17 күн бұрын
I keep hearing that money will be taxed but no one is saying how much the percentage is....
@josephdbhembe747115 күн бұрын
Normal tax percentage
@vernonrich72023 ай бұрын
I took R300000 in 2016 when i retired can i still get the other R300000 tax free from my annuity fund know to make it 1/3 of my lump sum
@jacolinekilelo816718 күн бұрын
So when I retire, will I withdraw all my funds
@pearln23083 ай бұрын
What if i retire and want all my money because im relocating to another country?
@jacolinekilelo816718 күн бұрын
I'm 62. Can I make a withdrawal , I'll be retiring at 65
@phumzilemanyathi95384 ай бұрын
How much will the tax be? Are we taxing according to the individual package? For example 31% on the R30k? Or standard tax amount?
@FinancialBunny3 ай бұрын
If I recall it is according to your tax rate. Yes, you're correct. Under the Two-Pot Retirement system in South Africa, when you choose to withdraw from your retirement savings, it is subject to tax according to your individual tax rate. However, remember that the portion withdrawn before retirement may be counted as part of your taxable income for the year it's withdrawn, which could possibly put you into a higher tax bracket. Retiring should ideally be a time of relaxation and reward for years of hard work. So, planning wisely around tax matters can help ensure you make the most of your retirement funds. 💰👌 Remember, details regarding taxation can varied and sometimes complex, hence, you may want to consult with a financial advisor or tax specialist for personalized advice. Keep asking great questions!
@Mtshepana3804 ай бұрын
What happens if i resign before the age 55 and decide that i dont want to work anymore, will i receive all my funds?
@frederickhefer34424 ай бұрын
No. You will only receive your vested pot after 55 when you buy annuity.
@fhatuwanimasindi4 ай бұрын
From what I have read on GEPF document vested port will continue to be governed by old rules, meaning when you resign you will get it together with savings port.
@malebtop97203 ай бұрын
I wanna retire this year when I turn 55 will I get all my provident fund at once?
@thembabongeziwemahlangu8508Ай бұрын
SARS cant wait for September 1st-
@FinancialBunnyАй бұрын
Dude, but there will be delays
@loganpadayachee604824 күн бұрын
Daylight robbery people must decide what fits them best if they choose to withdraw their money not dictatored to by our government
@xolanimashaba7214 ай бұрын
This two-pot systems meaning that when you reach 60-65 you no longer allowed to get SASSA grant for old age?
@luckyndlovu29264 ай бұрын
Even the current one ( one pot system) doesn't allow you to get SASSA when you retire.
@kelejadvyga229316 күн бұрын
What happens when you divorce?
@siyamthandapasiya10554 ай бұрын
This guy sounds like Trevor Noah..😅
@reinethmonareng29814 ай бұрын
Very true hey😂
@FinancialBunny3 ай бұрын
Kinda looks like him too hahahah
@matriciamoses27 күн бұрын
Was thinking the same 👌🤝
@lorraineralebona82164 ай бұрын
22:20- 23:00 does the frozen amount (kept till one is 55) does it accumulate interest? Thank you for such an informative discussion
@frederickhefer34424 ай бұрын
yes
@luckyndlovu29264 ай бұрын
It's frozen in the sense that you're not allowed to touch it unless you want that R550 000 withdrawal which is tax free.
@mimimasala3 ай бұрын
How can I contact Jimmy Moyaha? Yes, I tried Linked-in, just a Follow on his profile and no MESSAGE option.
@MSdigitalincome-zm4kcАй бұрын
if you take 30k by sept you get tax almost 10k thats how they get you so you end up with 20k to pay your debt
@dineosibanyoni184 ай бұрын
So Nicollette, its not us withdrawing R30000, the R30000 its just a booster you may only withdraw 10%? Yoh!😮
@FinancialBunny4 ай бұрын
The R30K is the limit that will be used to “boost” the savings component. So it’s 10% of your existing fund capped at R30K. You can withdraw the whole R30K but remember you won’t get all of it because of Tax
@mrsspringbok4 ай бұрын
@@mbuyixeketwane5481this is just another way of the government to benefit from tax payers. The unfortunate part is many people will be opting for the -R30k which will be taxed because people are highly indebted 😢
@naailahsearle61693 ай бұрын
Does my vested pot keep growing since nothing is going in there anymore?
@isaacmorake3602Ай бұрын
SOME LITTLE PERCENTAGE
@bonga492919 күн бұрын
It should be growing since its invested somewhere with the required rate of returns
@MayaMollz4 ай бұрын
What does "to purchase an annuity" mean ? 😂
@reinethmonareng29814 ай бұрын
It means purchasing a product that pays you a monthly income
@bonga492919 күн бұрын
And every receipt you get is subject to tax at your ruling tax bracket by definition of income i e its revenue in nature @@reinethmonareng2981
@Macedonia2703 ай бұрын
This disaster will prove to be the downfall of millions of South Africans.... People are going to withdraw half of their pension savings to buy BMWs, which they won't be able to afford to insure, maintain and service.... They will retire with very little and be dependent on a bankrupt state....
@sibongilesibisi94403 ай бұрын
You can only access on savings pot, you won't be able to touch pension pot.😊
@siyathembasiazmatshaya70743 ай бұрын
They won't,they only allowed to withdraw R30 000, after tax it's R24 000.maybe you can buy a Tazz or RunX
@Macedonia2703 ай бұрын
@@siyathembasiazmatshaya7074 I see...
@nomalungelongcete58753 ай бұрын
So true
@EmmanuelMoela2 ай бұрын
I stopped listening when they mentioned Millions. 🥲