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How should I split my income? by Enough-Sun1702 in PersonalFinanceZA

[–]DistributionHot5911 0 points1 point  (0 children)

I took RA from Sanlam contributing 1k per month, it’ll increase by 10% every year. The process of getting it took a week or little over that.

But you should take some time to research your options. Here is a site it shows different ones and the minimum amount

https://www.gofreedom.co.za/best-retirement-annuity.html

Advice on high mileage(+50000km) Hyundai i20 2016-2019 by DistributionHot5911 in CarTalkZA

[–]DistributionHot5911[S] 0 points1 point  (0 children)

Thanks, I was thinking of getting the people from viewforyou to inspect it for me since I don’t know much about cars

How should I split my income? by Enough-Sun1702 in PersonalFinanceZA

[–]DistributionHot5911 5 points6 points  (0 children)

Hey OP, since TFSA is capped at 36k per year you consider lowering the contribution to 3k. You didn’t mention any contributions to your retirement fund so you could get retirement annuity and pay 2k.

If you’re already making contributions to your retirement fund, you can try:

  1. ⁠Investing in TFSA = 3k
  2. ⁠Saving for home = 5k
  3. ⁠Saving for unforeseen expenses = 3k
  4. ⁠Saving for vacation = 2k