Timothy Sumer

Retirement today is no longer as straightforward as it was 20 years ago, it is more complex than ever before. You have an entire arsenal available to ensure that you retire well. Without a clear-cut path to planning your retirement, you could be left in poverty if your retirement is not planned right. Download my free retirement planning tool ... ( read more ) LEARN MORE ABOUT: Retirement Annuities REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Retirement Planning PART 1 | Retirement Annuities, Living annuity vs Life annuity, Bitcoin Planning for retirement is a crucial aspect of our financial lives, and it involves making decisions that will impact our standard of living during our golden years. One of the most effective ways to plan for retirement is by utilizing retirement annuities. In this article, we will explore the differences between living annuities and life an...

This is an episode-based series where I will be walking through all of the aspects of retirement in South Africa, and explaining them. In today’s episode we will be discussing the main difference between pension, provident and retirement funds in South Africa. Pension funds. You can only join a pension fund through a company that employs you. With a pension fund, your money is managed by the trustees of your pension fund, and they decide which assets to include in the fund. Your contributions to the pension funds, and, your employers’ contributions, are tax deductible. When you retire, you may take up to a maximum of one third of your savings in a cash lump sum. This cash lump sum is taxable. The balance must be used to purchase an income annuity, it is extremely important to know that the income annuity is taxable just like a salary is taxable. If your total retirement interest in the fund is less than R247500 you are not limited to taking only one third of your savings as...