A regular saver who reduces the charges in his retirement account from 2.5% of assets each year to 0.5% of assets would receive a benefit 60% greater at retirement after 40 years.— National Treasury
Ingram spoke about fees and investment costs.
He touched on what to consider before you decide to invest.
Ingram also gave advice on what information you should get from your fund manager in order to determine if the investments you do have are any good.
Some other aspects of the discussion:
Investors are often disappointed with the growth of an old retirement annuity (RA) or endowment when it matures. It may be that the asset allocation (shares, property, bonds, cash, etc.) is unsuitable (e.g. a very low risk fund is inappropriate if your investment has, for example, 20 years to run).
Consider the fees. (E.g. do you buy an RA from an insurance company and it then invests in a unit trust provided by another company? Fees are layered in this instance. Why not go directly to the unit trust manager for an RA?)
- Understanding upfront fees, exit fees, policy fees and annual advice fees.
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.
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital.
Time. It’s the most important factor, says Sam Beckbessinger, author of “Manage Your Money like a F*cking Grownup”.
Making ends meet, investments, property, debt, financial freedom… these were the very best "your money" articles of the year.
The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor at Galileo Capital.
The savings industry will soon find it impossible to rely on complexity to hide the real extent of the fees it charges.
Fees matter. A lot. And you don’t get much lower than that of Magda Wierzycka’s Sygnia. Here’s how they do it…
The ANC says this decision was taken because the two are said to be frustrating forensic investigations.
Kirstenbosch National Botanical Gardens curator Phillip Le Roux died on Wednesday after a horrific cycling accident.
Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.
Cape Town is dropping water restrictions from Level 5 to Level 3 as of Saturday, 1 December. Here's how it'll affect residents.
Sassa beneficiaries will receive their grant money on 28th of November and they are advised to use it wisely this festive season.