Every year, gyms are full in January.
However, by this time – only two months later – there is decidedly more breathing room.
Every year, right before the end of the tax year, investors pile into Retirement Annuities (RAs) and Tax Free Savings Accounts; then they largely ignore their financial planning until the following year.
Parents with minor children are always planning to get to their wills, but have many other things to do first.
A Survey in 2001 showed that 69 out of every 100 employees feel that their retirement savings are too low; 24 out of 100 of them plan to increase their savings, but only three out of 100 actually do it.
Many people prefer to “wait and see” during times of uncertainty.
Many people suffer from this procrastination problem.
Ingram discussed a number of ways to get around wealth-destroying procrastination:
Break up your tasks into small, easily achievable steps.
If you are in a serious relationship – set joint goals and work together to achieve them (e.g. I will arrange the RA top ups; you make an appointment for a new will).
Tell a friend and set a deadline (e.g. tell a good friend that you will buy them a case of whiskey if you have not increased your RA by next Friday).
- If you are uncertain about making an investment, because of volatile economic and political climates, phase in your money over time.
For more detail; listen to the interview in the audio below.
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.
Economist Tim Harford discusses his book “50 Things That Made the Modern Economy” and the shortlist for the “51st thing”.
The Money Show’s Bruce Whitfield interviews Celeste Fauconnier, co-author of RMB’s “Where to Invest in Africa” report.
The Money Show’s Bruce Whitfield interviews branding and advertising expert Andy Rice.
The Money Show’s Bruce Whitfield interviews Sasfin CEO Roland Sassoon.
Bruce Whitfield interviews Gareth Woods from Good Game Well Played and Nick Holden of African Cyber Gaming League.
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.
Vehicles belonging to the SANDF were destroyed in a fire at a vehicle depot at Wallmannstal Pretoria last week.
Counselling psychologist Nikole Seele says it is important to differentiate between healthy anxiety and debilitating anxiety.
EWN Reporter Kevin Brandt gives the latest updates on the taxi strike as protestors prevented commuters using alternative means of transport.
Eusebius McKasier and investigative journalists dissect looting of Eskom and capturing of other state owned enterprises.
Tourism Spokesperson Beverly Shafer, says that the Robben Island ferry's have been a problem for years.
Bronwen Dyke, Golden Arrow spokesperson confirmed that one of their buses were set alight.
Unathi Henama, transport economist at Tshwane University of Technology breaks down the negative effects of the taxi strike.