Tax Free Savings Account vs Retirement Annuity In South Africa - Which One Is Better? | Money Marx скачать в хорошем качестве

Tax Free Savings Account vs Retirement Annuity In South Africa - Which One Is Better? | Money Marx

📚 Download My FREE eBook Containing The 10 Baby Steps To Financial Freedom In South Africa: https://www.moneymarx.com/Baby-Steps-... 👉 Link To My DIY Investing Course: https://www.moneymarx.com/money-marx-... You’ve probably heard a couple of these phrases before: Save for retirement, pay yourself first, and look after your future so that you don’t have to piggyback on someone else when you reach retirement? And yes, it is true. You will one day reach a point where you won’t be earning a salary anymore, but you will still need a place to stay, food to eat, and stuff to do to keep you busy. And all of these “things” will cost money and this money will need to come from somewhere. Enter the term “investments”. I’m sure most people are aware of what it means to invest money and why it is important. But seeing that it is not the norm to be properly educated about these things in school, many people will get completely overwhelmed by all the different types of investments there are, where they need to invest their money and how much they need to invest. And I don’t blame them. I for sure was perplexed the first time I sat down with a financial advisor when he spat out abbreviations such as TFSA, RA’s, ETF’s, etc. It almost felt like I am being forced to put my money into things that I didn’t understand at all, and that scared me. And I am sure it will scare many others as well, therefore resulting in them being completely put off of investing. So if this is you, then I am really glad you made it to this video. You are already far ahead of the pack by showing an interest in saving for your retirement and therefore I salute you, because not many people are doing that, especially not from a young age. So in this video, I am going to keep it very simple. When looking at retirement in South Africa, there are basically two investments that are hands down the best to consider, in my opinion: A Tax-Free Savings Account (or TFSA) and a Retirement Annuity (or RA). Now I already made an in depth-video on each one of these investments that I will link down in the description and on the info cards that I urge you to watch as well. So for the purpose of this video, I am only going to compare the two with each other, highlighting their respective strengths, and then at the end, I will give you some suggestions on which one would be the best fit for you. Thank you for watching. Let me know down in the comments which one you prefer and why? Here is a breakdown of the info covered in this video: 00:00 Introduction 03:09 Comparison between a TFSA & RA 03:37 1) Type of Investment 03:52 2) Tax treatment on contributions 04:58 3) Contribution limits 06:06 4) Tax on investments 06:37 5) Investment rules 07:57 6) Access to money 08:55 7) Tax when accessing money 09:50 8) Creditors and Estate duty 10:32 How to choose between a TFSA & RA? 15:04 Take Home Message ________________________________________ For Business Inquiries: [email protected] _____________________________________________ DISCLAIMER The information shared by Money Marx is for educational and informational purposes only and should not be taken as Financial, Tax, Legal, or Investment Advice. While Pieter de Villiers is registered under the Financial Sector Conduct Authority (FSCA) and operate within the framework of the Financial Advisory and Intermediary Services (FAIS) Act, the content provided on this channel, in courses, and across all platforms does not constitute Personal Financial Planning or Advisory Services. All information is general in nature, based on factual data, principles, and publicly available information to help South Africans improve their financial literacy. Past performance is not a guarantee of future results, and all investments carry risk. You are responsible for your own financial decisions. For advice tailored to your personal situation, please consult a qualified Financial Planner that is registered with the FSCA. Some of the links on this page are affiliate links, meaning, at no additional cost to you, Money Marx may earn a commission if you click through and make a purchase and/or subscribe. These commissions help support the channel and other educational content.