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The Financial Coach

@fincoachsa

People, emotions and money

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People, Emotions and Money...“We are not thinking machines that feel, we are feeling machines that think” António R. Damásio


Real rates are far too high. Something has to give

SA CPI is well within the safe zone - but US & UK inflation is rising again. Today the SARB will:



Who holds the life insurance companies accountable for their really poor customer service? Or do we just have to accept it? @fscasouthafrica


The Financial Coach Reposted

Here are Bod Farrell’s 10 Market Rules. (My favourite is no:9)

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When paying for active management, you should be paying for diversification, not duplication!


What will it take for financial planning to become a profession in SA?


The bar from the department of trade and industry was not set very high so it’s very distressing but not surprising

Good Lord. The DepMin of Trade&Industry can't distinguish between the assets of citizens those of the State. He believes your retirement savings should be forced into failing SOEs rather than invested in “unproductive industries” such as MTN. Yes, a minister of Industry said that



Are you paying attention yet?

Pension funds should be seen as national assets and not private assets, Deputy Minister Zuko Godlimpi says. dailyinvestor.com/investing/6333…



On the subject of extortion in SA - does anyone know of someone who has had a successful claim on their Professional Indemnity cover we are required to have under FAIS? So many T's & C's & wiggle room - not confident they would ever pay & they know they have us over the barrel!


Run and don’t look back

A friend has R130,000 to invest. He shows me a proposal from a well-known firm. - Initial platform fee R2,426 - Advisor's upfront fee R4,485 This means an upfront charge of 5.3%! - Underlying investment charges still to be added - Annual charges still to come The firm then…



I think it’s going to be interesting to see how much of a difference there is between advised and “unadvised” clients. Time will most probably demonstrate the value of good advice.

So it seems like there is a Two Pot withdrawal frenzy going on. Would love some perspectives: if you are trying to withdraw, what is your experience? Or if you work for an administrator, what is going on?



Worth reading - thanks

Check out my latest article: What’s the p(l)ot: the two-pot retirement system and what it means for investors linkedin.com/pulse/whats-pl… via @LinkedIn



The Financial Coach Reposted

2024 Men Elite XCO UCI World Champion 🌈 Alan Hatherly makes history 🇿🇦🥇 #PalArinsalAndorra2024

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This is shocking!

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The FAIS Disclosure Doc is a total crock. Saw a new medical professional today - did not have to sign forms allowing them to treat me. It was a given (by virtue of their professional designation) that they were qualified. Sadly, the CFP® designation carries little weight in SA.


try getting SARS to correct directives which are not appearing on IRP5's...

Oh boy. Cannot even bear to think about it. Doing the returns are the easy part. Battling with fin institutions for correct IT3B/C's is the nightmare.



If monkeypox is now M-pox does that mean that chickenpox is C-pox and smallpox is s-pox and so on?


The Financial Coach Reposted
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The Financial Coach Reposted

Although I like our JSE as an investment, it is sad to see that we no longer rate even a tiny dot on this map of global exchanges in 2023 vs 1900. Until around 1995, the JSE still punched well above its weight as the 12th largest exchange in the world, ranking close to Hong Kong.

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Reminder that everyone should submit a tax return every year - despite SARS saying otherwise. Failure to do so causes chaos later on when SARS suddenly demand outstanding returns (that you supposedly did not need to submit). You can now only go back 5 years on efiling! @sarstax


The Financial Coach Reposted

You need to be embracing the paradox of hate

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