MyMoney Online, The Personal Finance series with Warren Ingram

How to get out of your Retirement Annuity (RA)

Does your retirement annuity (RA) suck?

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram and Old Mutual General Manager for Closed Products Adrian Burke for his weekly personal finance feature.

Ingram and Burke discusses the ins and outs of getting out of an RA.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

This product that the listener bought is no longer on the market.

Adrian Burke, Old Mutual

There are very few cases nowadays where the penalty would go to the maximum.

Adrian Burke, Old Mutual

If you stay with the company there is no penalty applicable.

Adrian Burke, Old Mutual

Product costs should not be more than 2% per year.

Warren Ingram, Galileo Capital Financial Advisor

The most attractive option for me is to stop contributions to this RA and to start a new one at another fund manager.

Listener

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : How to get out of your Retirement Annuity (RA)


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Retirement annuity/unit trust not doing well? Here’s what to do…

Retirement annuity/unit trust not doing well? Here’s what to do…

Have you noticed that your RA or unit trust isn’t growing much? Personal finance expert Warren Ingram has advice…

What to do if your retirement annuity (RA) sucks

What to do if your retirement annuity (RA) sucks

Are you stuck with a high-cost, lousy RA? The Money Show's Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

5 reasons retirement funds rule (compared to the alternatives), according to Corporate Consultant Erhard Theunissen.

What happens to your Retirement Annuity if your fund manager goes bust?

What happens to your Retirement Annuity if your fund manager goes bust?

Fund managers do from time to time go bankrupt. Here’s what’ll happen to your Retirement Annuity if yours does…

10 reasons why this is BY FAR the best way to save for retirement

10 reasons why this is BY FAR the best way to save for retirement

Is there a single best way to build your wealth so you can retire with dignity? Yes, there is, despite costs and limitations.

Why you need a pension fund (or retirement annuity) even if you own a house

Why you need a pension fund (or retirement annuity) even if you own a house

Many people falsely believe they do not have to save for retirement because they own the home they live in.

Popular articles
Uphill struggle: City denies reports CPT's new electric buses can't climb hills

Uphill struggle: City denies reports CPT's new electric buses can't climb hills

The City of Cape Town says there's no truth to reports that the new R128 million electric buses can't climb up hills in the CBD.

'Minnie understood he might become a target'

'Minnie understood he might become a target'

Marianne Thamm wrote the forward to 'The Lost Boys of Bird Island' and worked with Mark Minnie in editing the controversial book.

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

Indian writer Arundhati Roy shares profound insights about her literary life and what inspires her to put pen on paper.

'The Guernsey Literary & Potato Peel Pie Society film will leave you hooked'

'The Guernsey Literary & Potato Peel Pie Society film will leave you hooked'

Film reviewer Gayle Edmunds chats about 'The Guernsey Literary & Potato Peel Pie Society' film, and what movie-goers can expect.

[READ] Owner of CPT's YogaZone responds to racial claims made by yoga instructor

[READ] Owner of CPT's YogaZone responds to racial claims made by yoga instructor

Africa chats to the owner of YogaZone after a yoga teacher called in to speak about the racism she experienced from a co-worker.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Juan Sanchez shares stories of Fidel Castro that’ll make you re-examine everything you thought you knew about the Cuban dictator.