Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: The Aubrey Masango Show
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
Business
fiber_manual_record
Lifestyle

Considering emigration? Financial planner discusses the affordability of leaving

6 December 2019 11:04 AM
Tags:
The Money Show
Retirement
Bruce Whitfield
Personal finance
investing
Certified Financial Planner
emigration
cfp

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

Anecdotal evidence suggests that many South Africans are considering emigration.

A move abroad has financial consequences – often extreme – which you should be considering if you’re a would-be émigré.

pixabay.com, 2019
  • Can you afford to leave South Africa?

  • What do you need to consider before deciding if you should stay or go?

The Money Show’s Bruce Whitfield interviewed Barry O'Mahony, Certified Financial Planner (CFP) at Veritas Wealth Management.

…50% of people [his clients considering emigration] haven’t been to where they’re planning on emigrating to…

Barry O'Mahony, Certified Financial Planner - Veritas Wealth Management

You must always retire to something. You mustn’t retire to get away from something.

Barry O'Mahony, Certified Financial Planner - Veritas Wealth Management

The people who end up in a complete mess are the people who are driven by money first.

Barry O'Mahony, Certified Financial Planner - Veritas Wealth Management

The later you do this in life, the more dangerous it is.

Barry O'Mahony, Certified Financial Planner - Veritas Wealth Management

Official emigration from South Africa is a Capital Gains Tax event… all your offshore assets, they too fall into a Capital Gains Tax event… If you cash in your pension fund… you’re paying 36% tax… a game-breaker for most people…

Barry O'Mahony, Certified Financial Planner - Veritas Wealth Management

Listen to the interview in the audio below.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:


6 December 2019 11:04 AM
Tags:
The Money Show
Retirement
Bruce Whitfield
Personal finance
investing
Certified Financial Planner
emigration
cfp

More from MyMoney Online

absajpg

Absa wins international award for its response to Covid-19

5 August 2020 11:38 AM

The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.

Share this:
Read More arrow_forward

black-family-house-for-sale-sold-property-household-investment-bond-rent-123rf

Digital mortgage originator Mortgage Me ensures you get the lowest interest rate

4 August 2020 12:59 PM

Everything is done electronically – you never have to leave your home, says Mortgage Me’s Andrea Tucker.

Share this:
Read More arrow_forward

TikTok 123rf 123rfbusiness 123rfworld 123rflifestyle

Microsoft wants to buy TikTok. Donald Trump gives it 45 days to negotiate

3 August 2020 7:23 PM

[EXPLAINED] The Money Show’s Bruce Whitfield interviews Craig Wilson, Editor at Stuff Magazine.

Share this:
Read More arrow_forward

Nigeria flag nigerian 123rf 123rfAfrica 123rfBusiness

Shoprite pulls the plug on Nigeria (pop 206m) – trouble for SA companies abroad?

3 August 2020 6:34 PM

Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).

Share this:
Read More arrow_forward

Mine mineworker mining gold platinum coal 123rfbusiness 123rf

Resilient Amplats reports rise in earnings (Ebitda), solid balance sheet

27 July 2020 7:06 PM

The Money Show’s Bruce Whitfield interviews Natascha Viljoen, CEO at Amplats.

Share this:
Read More arrow_forward

Covid-19 insurance 123rf 123rfbusiness 123rflifestyle 123rfpersonalfinance

Santam to pay out R1 billion to policyholders in 'business interruption' relief

27 July 2020 6:29 PM

It still argues that the lockdown, not the pandemic, is responsible for its clients’ losses. Bruce Whitfield interviews its CEO.

Share this:
Read More arrow_forward

rands

SA Reserve Bank cuts repo rate to 3.5% - an all-time low

23 July 2020 3:39 PM

As widely expected, Sarb Governor Lesetja Kganyago announced a repo rate cut of 25 basis points on Thursday.

Share this:
Read More arrow_forward

Interest rates rate cut Sarb MPC 123rf 123rfbusiness

Expect another cut in interest rates – already at record-lows – later today

23 July 2020 1:13 PM

"Consumers who are in debt have received a huge bonanza," says Econometrix Chief Economist Dr Azar Jammine.

Share this:
Read More arrow_forward

Sars online tax return revenue service 123rfbusiness 123rfpersonalfinance

Ruling against Sars: 'Taxpayers have the courts on their side'

22 July 2020 3:17 PM

"This case shows rogue officials at Sars that the courts protect taxpayers," says tax attorney Jean-Louis Nel (Tax Consulting SA).

Share this:
Read More arrow_forward

Crisis just ahead dark clouds thunderstorm 123rf 123rfbusiness

'Property prices are falling. Cut rentals to hold on to existing tenants'

21 July 2020 9:31 AM

South Africa has become poorer, says property economist Erwin Rode. If you force a tenant out, who will you replace her with?

Share this:
Read More arrow_forward

More from Personal Finance with Warren Ingram

Retirement planning personal finance 123rfpersonalfinance 123rflifestyle 123rf

What does the contentious Regulation 28 mean for your retirement funds?

30 July 2020 8:23 PM

On The Money Show, finance expert Warren Ingram explains why he believes the pros of the regulation outweigh the cons.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Supersaver Julia has changed lives, and she can change yours! – Bruce Whitfield

9 July 2020 3:00 PM

Need the inspiration to save? The Money Show’s Bruce Whitfield interviews “Supersaver Julia” at around 7:15 pm tonight.

Share this:
Read More arrow_forward

edit - equity-market - image from JSE-dot-co-dot-za.jpg

Personal Finance Feature - Equity fund vs index investing

2 July 2020 8:43 PM

Personal financial adviser Warren Ingram says active fund managers in South Africa have had a terrible time.

Share this:
Read More arrow_forward

Missing Image Placeholder

Scared that you may lose your life savings?

25 June 2020 8:07 PM

Warren Ingram, wealth creator, answers listeners' questions about safe investing in anxious times.

Share this:
Read More arrow_forward

Contract

No guarantee that your nominated beneficiary will get your money when you die

18 June 2020 7:58 PM

Did you know that the Trustees of retirement funds don’t have to pay it out to your nominated beneficiary?

Share this:
Read More arrow_forward

covid-19 coronavirus economy 123rfbusiness 123rflifestyle 123rf recession

Personal Finance Feature: Timing the market

11 June 2020 7:52 PM

What is the concept of "market timing" and how can it help investors?

Share this:
Read More arrow_forward

Missing Image Placeholder

How to plan for retirement during the Covid-19 crisis

28 May 2020 7:47 PM

The Covid-19 pandemic and the economic destruction in its wake has left some of us wondering if we'll ever be able to retire.

Share this:
Read More arrow_forward

Old house abandoned namibia 123rfbusiness 123rflifestyle 123rf

What will become of South Africa's property market and industry after lockdown?

30 April 2020 7:52 PM

Personal finance expert Warren Ingram shares his concerns and offers a few pointers.

Share this:
Read More arrow_forward

piggy-bank-coins-money-budget-savings-personal-finance-123rf

Earn up to 11.5% interest on one of the safest investments around

16 April 2020 7:33 PM

Personal finance guru Warren Ingram on why you should consider this risk-free investment, especially if you live off interest.

Share this:
Read More arrow_forward

Piggy bank mask covid-19 coronavirus 123rfbusiness 123rflifestyle 123rf

'If you still have a job, get rid of your debt as fast as you can'

2 April 2020 8:04 PM

Personal finance expert Warren Ingram has advice on how to survive – or even thrive – amidst the Covid-19 outbreak.

Share this:
Read More arrow_forward