Financial advice for first-time property owners
Crue Invest
by Sue Torr
1d ago
Navigating the world of property and property finance for the first time can be daunting, especially when it comes to applying for finance and securing the most favourable interest rate. In this article, we provide some useful advice for first-time home buyers. Use technology to your advantage: Technological advancements have made shopping for your first home so much easier than in the recent past. Most reputable estate agents now operate interactive websites that allow potential buyers to conduct virtual tours of each marketed property, access 360-degree photos of each room, and filter the pr ..read more
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Final account: Calculating your estate duty liabilities
Crue Invest
by Sue Torr
3d ago
Determining the estate duty liability in your estate is a critical part of the planning process as it allows the estate planner to put mechanisms in place to address any shortfalls that may exist. In terms of legislation, no tax is payable by a beneficiary on assets received as an inheritance – whether through testate or intestate succession. This is because an inherited asset is regarded as a capital receipt and is not included in a taxpayer’s gross income. As such, inheritance tax – which we refer to as estate duty – is paid by the deceased estate before any assets are transferred to the ben ..read more
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7 financial solutions to consider in your portfolio
Crue Invest
by Sue Torr
1w ago
Putting financial solutions in place should be part of a carefully designed strategy. Each solution or product should serve a pre-determined purpose in your wealth creation strategy. As US investment guru Peter Lynch is famous for saying: ‘Know what you own and why you own it’. Here, we explore the mechanisms of seven financial solutions, who needs them, and what to know before implementing. 1. Retirement annuity How does it work? Retirement annuities are effectively personal retirement funds held in the name of an individual. As in the case of provident and pension funds, retirement annuities ..read more
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Financial planning for couples with a large age-gap
Crue Invest
by Sue Torr
2w ago
According to research, large age-gap marriages have a greater chance of failing because each spouse is generally at a different life stage psychologically, emotionally, and financially. These complex family dynamics give rise to a special set of financial planning considerations which should be considered as early in the relationship as possible. Risk cover When it comes to risk cover, the age and health status of the older spouse may impact his insurability. If the older spouse wants to make financial provision for his younger spouse through a life policy, obtaining cover may be both challeng ..read more
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A single mother’s guide to financial planning
Crue Invest
by Sue Torr
2w ago
As sole breadwinners responsible for the welfare of minor children, single mothers face a particularly daunting set of challenges when it comes to financial planning. Besides not having a partner’s income as a safety net, the emotional strain of shouldering the family’s finances alone can leave many single mothers feeling overburdened and financially strained. From our experience, however, single mothers have a special type of resilience and resourcefulness when it comes to managing their finances. Research shows that women make better investors because they are more likely to seek advice, sti ..read more
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20 steps to take in your twenties to build sustainable wealth
Crue Invest
by Sue Torr
2w ago
The sooner your start your financial planning journey, the better the outcomes are likely to be. Here are twenty steps you can take in your twenties that can set your finances up for life: Set up a budget Budgeting is habit forming, and learning to use a budget early on in your career will help create excellent money habits for the rest of your life. Remember, while you are young, single, and your finances are relatively uncomplicated, budgeting will be a fairly simple exercise. As your personal circumstances change and become more complex, so too will your budget. Our advice is therefore to ..read more
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These things can rob you of your financial peace of mind
Crue Invest
by Sue Torr
3w ago
Numerous studies have demonstrated a cyclical link between financial worries and mental health problems such as depression, anxiety, and substance abuse – with higher rates of mental health issues appearing in those who are heavily indebted. In this article, we explore a number of factors that can cause sleepless nights when it comes to money and finances: Debt Debt is probably the single greatest stressor when it comes to financial planning and, unfortunately, very few South Africans are immune to torments of debt, especially in an inflationary environment. Over the past two years, the countr ..read more
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Tax in your estate plan
Crue Invest
by Sue Torr
3w ago
Understanding the interplay between tax and your estate plan is important to ensure that your estate does not mean with difficulties in the administration process. The strategic integration of tax planning in the context of estate planning is a cornerstone for the effective transference of wealth. In this article, we take a closure look at tax in the context of your estate plan. Income Tax The first point to know is that your tax commitments follow you to the grave and that SARS has first claim to what is rightfully owed to them. Your executor, who will effectively step into your shoes in the ..read more
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Consider the following before accepting a job offer
Crue Invest
by Sue Torr
3w ago
While salary is always an important factor, there are a range of accompanying finances that should be taken into account when contemplating a job offer. The employment offer in its entirety should be scrutinised through a discerning lens to ensure that you fully understand the economic consequences of accepting the offer. Here’s what to consider. The nature of your employment contract Before making a decision, it is important that you receive the offer and proposed employment contract in writing, and that you fully understand the nature of the position being offered in terms of whether it is a ..read more
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The unique financial planning needs of blended families
Crue Invest
by Sue Torr
1M ago
Financial planning for couples entering their first marriage and who have no children from any previous relationship is relatively easy to navigate. However, the traditional ‘nuclear’ family is no longer the norm and financial planning has had to evolve to cater for more diverse, and often complex, family structures. The majority of families in South Africa now include a blend of people related by blood, through adoption, bound by marriage (same-sex or heterosexual), or part of a non-marital union – and planning for the financial needs of such can be complex. In this article, we explore the un ..read more
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