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On the Money. Budding stock market investor Jarryd Neves, of BizNews, sends out an invitation to everyone who wants to ask questions about share investing – but is too embarrassed to ask. Write to [email protected] And tune in for his regular Monday column: On the Money Last week, I wrote about the importance of teaching kids the value of money. Naturally, it got me thinking about my financial journey and how I started saving. Like most kids, I had a piggy bank stuffed full of bronze coins. When it came time to count it, I was bitterly disappointed. All that time, all that patience – and for what? A measly pittance. Perhaps this example can be used to illustrate wealth building as an adult. Aside from other important factors (which I’ll cover in a moment), many people my age think that as long as they have a savings account, they’ll be fine. Well on their way to a comfortable life and cushy retirement. ....
On the Money. Budding stock market investor Jarryd Neves, of BizNews, sends out an invitation to everyone who wants to ask questions about share investing – but is too embarrassed to ask. Write to [email protected] And tune in for his regular Monday column: On the Money If you’ve been tuning in to the BizNews Power Hour – if not, you really should be – you will have undoubtedly come across numerous nuggets of wisdom, dropped by the knowledgeable and informed guests. One such guest was Candice Paine of PR Financial Services. Talking about tax-free savings and investments, Paine unpacked the often overlooked investment vehicle in great detail. ....
Candice Paine, of PR Financial Services, explains the benefits of tax-free investments. ‘The longer you save, the bigger the tax saving’, says Paine. An individual can contribute a yearly amount of R36,000 – up to a lifetime maximum of R500,000. ‘As the money grows, all the returns on that investment are tax-free’. – Jarryd Neves Candice Paine on tax-free savings: Tax-free savings are open to everybody – even minors. The big benefit of it is that the longer you save, the bigger the tax saving in your tax-free account. What the government did – national treasury – I think it’s about six years ago now, started tax-free savings where you could contribute an annual amount. Currently, that annual amount is R36,000 up to a lifetime maximum of R500,000. ....