Streaming issues? Report here
Just the Hits generic CapeTalk Just the Hits generic CapeTalk
Just the Hits
15:00 - 19:00
volume_up
volume_mute

Up Next: Inside EWN
See full line-up
Just the Hits
15:00 - 19:00

Should you invest in a Retirement Annuity - or something else?

23 April 2021 10:58 AM

The Money Show’s Bruce Whitfield interviews personal finance expert Warren Ingram (Galileo Capital).

Many investors do not like RAs, because they cannot access their investment before the age of 55.

An RA also limits the proportion of your contributions that may be allocated to shares and overseas investments.

Should you avoid RAs completely?

© stockbroker/123rf.com

Click here for all our personal finance articles in one place.


The Money Show’s Bruce Whitfield interviewed Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.

Ingram says there are some real benefits to investing your money in retirement funds – the growth inside the retirement fund is tax-free, a boost that especially pays off in the long term.

Your contributions are tax-deductible.

The trick, says Ingram, is to top-up shortfalls with “discretionary” investments such as a “Tax-Free Savings Account” (TFSA).

A TFSA is not limited by regulations (asset allocation, offshore investments, etc.) in the same way that an RA is.


Click here for all Ingram's articles in one place.


Pro tip:

You’ll get a tax refund if you contribute to an RA – invest that into a TFSA, and you’ll one day draw a tax-efficient income from a combination of discretionary investments and annuities.

For more detail, scroll down to listen to the interview.


Recently published related articles:





23 April 2021 10:58 AM

More from Personal Finance with Warren Ingram

The rand is on a roll - should you stop, or start, sending money offshore?

13 May 2021 9:06 PM

Personal finance expert Warren Ingram has sound advice on the timing of offshore investment decisions.

Share this:
Read More arrow_forward

What to consider if you want to leave money to your children

6 May 2021 8:57 PM

Valuable tips on ensuring an inheritance for your kids and educating them about money from personal finance expert Warren Ingram.

Share this:
Read More arrow_forward

Give your child the best education you can afford – here’s how to invest

16 April 2021 11:03 AM

Personal finance advisor Warren Ingram on how to save and invest for your child’s future education.

Share this:
Read More arrow_forward

Formula - how much you need to stop working for money, forever

6 April 2021 11:48 AM

How much do you need so you can live off your investments? Certified Financial Planner Paul Roelofse shares a few formulas.

Share this:
Read More arrow_forward

The JSE is near record highs – while the economy crashes and burns

19 March 2021 11:32 AM

The JSE is near record levels; what are investors smoking? Personal finance advisor Warren Ingram explains the disconnect.

Share this:
Read More arrow_forward

[EXPLAINER] Tax Free Savings Accounts vs Retirement Annuities 101

2 February 2021 1:51 PM

"Both are long-term savings vehicles with certain tax advantages," explains Michael Kirkpatrick of Alexander Forbes.

Share this:
Read More arrow_forward

'Huge security risk using new Sars software. Your personal info now at risk'

28 January 2021 3:44 PM

Sars’ news web browser is "very dangerous" and "opens up all sorts of security risks", warns Sam Wright (Tech Girl ZA).

Share this:
Read More arrow_forward

Medical aid too costly? 'Medical insurance' is far cheaper and it provides a lot

27 January 2021 9:37 AM

For R397 per month, you get unlimited GP visits and unlimited medication. You also get basic radiology, pathology, dentistry...

Share this:
Read More arrow_forward

11 tips for saving up to R17 000 per year on fuel

19 January 2021 2:59 PM

The economy is old, mouldy toast. Bianca de Beer of Dialdirect Insurance shares 11 driving tips to help you make ends meet.

Share this:
Read More arrow_forward

Economy in 2021: 'Expect a better year for South African assets'

15 January 2021 3:02 PM

An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.

Share this:
Read More arrow_forward