Change is the only constant.
She had the following advice (listen to the audio below for more detail):
Finances of relocation:
Work backwards from rental affordability.
Research before buying property – buying immediately may not be the best route until you’re familiar with your current and future needs (i.e. work-home distance, schooling of current or future children, growth areas or established areas, etc.)
- Keep tabs on all expenses that need to change or that you still have to honour after the move (particularly security services, Eskom accounts, Telkom accounts and any other location specific subscriptions) as ignorance of these may hit your credit score hard.
Cost your single life before you jump ship.
Have a buffer for legal fees and ask about payment terms and conditions.
- Determine your financing and banking reality without the support of your spouse.
Finances of being globally mobile:
Discuss available options of your offshore base with your banker or financial advisor.
Research cost of living overseas (education, property, travel, domestic help, etc.) given your specific family circumstances and keep abreast of these at all times, especially to SA-preferred destinations such as Australia, the UK and the US.
- Research citizenship options (E.g. investments amounts needed to gain permanent residency or citizenship). Keep abreast of these as it will add to your competitive advantage should there be mass movement towards your preferred destination. You are not only competing against other South Africans, but also against the rest of the world.
Recommendedby NEWSROOM AI
Get a free credit report, then follow these five tips and see by how much you can improve your credit record.
Financial advisor Warren Ingram rubbishes some popular, yet blatantly untrue ideas that are keeping people from growing wealthy.
Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis for his weekly small business feature.
Smuggled out of Germany in the 1930s, then forgotten in Joburg. Bruce Whitfield interviews fine art specialist Luke Crossley.
Rich. Wealthy. Financially free... Call it what you will; the first million is how you get there. Warren Ingram on his book...
Divorce destroys wealth. But it doesn’t have to be this way, says financial advisor Warren Ingram.
The City of Cape Town welcomes the first-ever ShotSpotter-linked conviction and sentence, handed down this month.
The instruction from Moyane to the official was to allegedly avoid speaking to KPMG investigators during 'rogue unit' inquiry.
Reverend Solomuzi Mabuza says he is considering laying charges against the woman for calling him a ka***r.
State-owned (but not managed) Ethiopian Airlines is profitable. Bruce Whitfield interviews Africa correspondent Lee Kasumba.
On Tuesday, SuperSport released the findings of an investigation by Advocate Vincent Maleka.
Former director Nerisha Singh says Grant Thornton SA sabotaged her job prospects after speaking up about sexual harassment claims.
An expert on human trafficking explains how the syndicate operates and how women are lured into dens.
The Money Show’s Bruce Whitfield interviews the famed and fearless journalist about his money history, hopes and beliefs.
On Technobyte this week the traditional doorbell goes hi-tech, Uber wants to fly you and Google is launching an AI lab in Ghana.