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.

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.

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

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.

Let me see if I can get Bellz

Absolutely. Government is going to milk those withdrawals

Thats why they arent discouraging them

​@@TalkingMoneyWithNozi Ewe

True Sars is a lion it roars for every sent we gain

Yhooo 😮

😂😂 lucky you.

Remember it's only 5 years money 🤔 i think the catch is after the 5 years you eating the Government 🤝🤞

Good information, morwa wa Moyaha...re botje ka setlokwa

That's a good idea

VESTED CAN BE TOUCHED AS WELL

It wasn't taxed, it's only taxed when you withdraw and when you receive the annuity payments

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😢

Of course

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

You are welcome!

I’m of the same view about the vested pot, that’s it will not be affected by the new system.

I'm also surprised now.😮 My understanding was that the vested pot could be fully withdrawn from (subject to tax and tax free allowance) upon resignation before retirement.

@@dabeezkneez8716100%

Not unless you need it

Yes, 100% correct! SARS stands to benefit from this in my opinion.

Yhooo I fear uSARS

Yes

No, the savings pot is always subject to tax when withdrawn from.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.

Yes Ma’am

I am also interested as I don't think is a good idea to resign

Thanks for the idea! Let me see if in the meantime i can get someone who can discuss finances and marriage with me

@@FinancialBunny Thanks

Glad you think so!

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

​@@siyathembasiazmatshaya7074not to help at all instead SARS will benefit a lot

as long as its not more than 10% of your savings pot.

You will get 30k taxed maybe going home with 25K,then every year you can only apply for R2000.

Aaaai daylight robbery

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.

One of my colleague is still waiting for his money from old mutual since 2019 upto date

Yes each withdrawals Sars is there hungry

You’re welcome 😊

Normal tax percentage

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!

No. You will only receive your vested pot after 55 when you buy annuity.

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.

I wanna retire this year when I turn 55 will I get all my provident fund at once?

Dude, but there will be delays

Even the current one ( one pot system) doesn't allow you to get SASSA when you retire.

Very true hey😂

Kinda looks like him too hahahah

Was thinking the same 👌🤝

yes

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.

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

@@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 😢

SOME LITTLE PERCENTAGE

It should be growing since its invested somewhere with the required rate of returns

It means purchasing a product that pays you a monthly income

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

You can only access on savings pot, you won't be able to touch pension pot.😊

They won't,they only allowed to withdraw R30 000, after tax it's R24 000.maybe you can buy a Tazz or RunX

@@siyathembasiazmatshaya7074 I see...

So true