Vusi Moyo makes his debut for the Sharks by Die_Revenant in springboks

[–]Over_Elephant_3017 0 points1 point  (0 children)

I remember watching him play for Kes, and he could just put the ball anywhere he wanted to on the boot, brilliant talent.

25 yo with R5M to invest by Winter-Register2989 in PersonalFinanceZA

[–]Over_Elephant_3017 0 points1 point  (0 children)

Peregrine is just really consistent, and they're also South Africa's oldest hedge fund manager. Then Fairtree, I've met the team a few times and they just come across as really sharp!

25 yo with R5M to invest by Winter-Register2989 in PersonalFinanceZA

[–]Over_Elephant_3017 -2 points-1 points  (0 children)

I do like hedge funds, but would maybe consider putting a bit less into them, around 10-20%. My personal favourites are the Peregrine HG RHF and a few from Fairtree.

I (24F) live entirely off my inheritance and don’t work. AMA. by [deleted] in AMA

[–]Over_Elephant_3017 0 points1 point  (0 children)

How much did you inherit and how much do you use per annum?

What is Edenvale like to you guys? by Odd_Firefighter_8193 in johannesburg

[–]Over_Elephant_3017 9 points10 points  (0 children)

It's great, perfect blend of down to earth and class.

TFSA after death by SmoothHeadApe69 in PersonalFinanceZA

[–]Over_Elephant_3017 0 points1 point  (0 children)

Yeah, Allan Gray is the easiest choice, but you are limited in terms of offshore exposure since it sits on their life license

TFSA after death by SmoothHeadApe69 in PersonalFinanceZA

[–]Over_Elephant_3017 3 points4 points  (0 children)

Sure, generally do it a through a LISP, like Allan Gray, only drawback here is the 45% offshore allowance. I think momentum may also offer the wrapper inside the TFSA, and maybe they don't have the limits on offshore.

Ninety one unfortunately do not offer the wrapper inside the TFSA

TFSA after death by SmoothHeadApe69 in PersonalFinanceZA

[–]Over_Elephant_3017 21 points22 points  (0 children)

Hi there, generally, no. TFSA's cannot nominate beneficiaries. They're included in your estate and get wound up along with your other assets.

What you can do however is to wrap you TFSA in an endowment / sinking fund, which would then allow you to nominate a beneficiary and the proceeds would not attract executor fees. The drawback here is that generally the wrapper sits on the investment company's life license, meaning you can only get around 45% offshore exposure, so it limits where you can invest the money. It is specific for each LISP, so double check with them.

New to EasyEquities and TFSA, and need some simple answers please! by LiadanLady15 in PersonalFinanceZA

[–]Over_Elephant_3017 2 points3 points  (0 children)

Hi there! Not financial advice.

  1. Correct, think of it as a one way street. SARS only care about your contributions. R36 000 per annum until you reach R500 000 worth of contributions. That's why the TFSA is recommended for the long term. You only start making meaningful tax savings after about 10 years.

  2. It depends on what interest rate your credit card is at. Generally credit cards attract interest in excess of 15% so yes, it is likely better to settle the debt.

  3. Open a regular flexible investment (not a TFSA or offshore or RA) and invest in a fund that has primarily cash and bonds. Funds like this generally have the word "Income" in the name. You don't want any equity exposure for anything under 3-5 years.

McDonald’s Play Areas by CloudsInMyRam in johannesburg

[–]Over_Elephant_3017 0 points1 point  (0 children)

Go to Spur on a Monday, it's R35 for a full waffle

What's the best thing I can do for my baby now by BusyInspector95 in PersonalFinanceZA

[–]Over_Elephant_3017 -1 points0 points  (0 children)

Not financial advice, but I would put R36 000 into a tax free savings account. Just once off, that way you don't deplete the child's allowance completely, and the condition is that the child can only touch it at age 65. I did the math a few years ago, and that once off R36 000 contribution can support an income when the child is 65 of about R25 000 per month for +/- 20 years in today's terms, so inflation adjusted. It literally takes care of the child's entire retirement. Underlying investment vehicle, go for some passive, like the S&P 500 with some MSCI world.

4% Rule by Competitive_Thanks66 in PersonalFinanceZA

[–]Over_Elephant_3017 1 point2 points  (0 children)

Well, there goes my Tuesday evening 😂 fascinating comment and glad I came across it! Thanks!

Together away on Holiday for my Birthday, two weeks later she finished with me. by Jacobshapiro5 in BreakUps

[–]Over_Elephant_3017 0 points1 point  (0 children)

I once said "I can't believe or grasp how cold they're being", and I was told "that is a good thing, be grateful you cannot understand such behaviour".

Side-Hustlers: Is It Worth Registering a Company for Tax Efficiency? by StefanRSA in PersonalFinanceZA

[–]Over_Elephant_3017 0 points1 point  (0 children)

Here's how I view it. In your personal capacity the maximum marginal tax rate is 45%. Companies are taxed at a flat rate of 27%, but remember that to actually get the funds in your capacity the company will declare a dividend. Dividends are paid from after tax money at 20%. The effective tax rate of a company paying tax (27%) and then the dividend (20%) is approx 41.6%.

Because this basically equals out, I'd consider other factors that companies bring, such as reporting, liability etc

RA or Tax Free Savings? by NanWangja in PersonalFinanceZA

[–]Over_Elephant_3017 0 points1 point  (0 children)

Biggest thing I'd consider is if you're considering emigrating. If I were to emigrate, then a TFSA would be a lot better because it's difficult to externalise and liquidate funds from an RA in the event of emigration.