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SowetanLIVE, published by Tiso Blackstar Group in Johannesburg, is the website of the Sowetan, the English-language South African daily newspaper that started in 1981 as a liberation struggle publication and which serves a proudly South African readership who have earned the right to be in the know and on the move.
Tempting as it may be to access your retirement savings in times of need by cashing in your retirement fund savings, it will make a significant dent in your retirement savings plan, if not crash it altogether.
Changing jobs or being retrenched should never be viewed as an opportunity to access extra money in the form of your retirement savings, says Gary Fisher, Head: Member Education Services at Alexander Forbes.
For many people greed and unrealistic expectations combined with desperation are human cancers when it comes to making investment decisions. Regrettably, decisions are made without asking any questions about the authenticity of the opportunity. The result is the continued loss of cash by people whose initial intention was to make financial returns for their livelihood and sustenance.
If money issues are a major source of stress in your home, don’t feel alone. There has been a significant increase, year on year, in the levels of financial stress in households across all income brackets, the latest Old Mutual Savings & Investment Monitor shows.
This year, 50% of all respondents in the annual survey of 1,000 working metropolitan households in South Africa said money was a major source of stress in their homes, compared with 40% of respondents last year.
The fund that looks after the pensions of 1.7 million current and former public servants was misled by the Public Investment Corporation (PIC) in respect of its R4.3bn investment in Ayo Technology Solutions, an inquiry into the state-owned asset manager heard on Monday.
JOHANNESBURG — South African retailer Steinhoff reported a $401 million (R5.6-billion) half-year loss from continuing operations on Friday, as the damage from a massive accounting scandal drags on.
Steinhoff first flagged holes in its accounts in December 2017 — the warning shot for an accounting fraud since put at over $7 billion — shocking investors that had backed its transformation from a small South African outfit to a discount furniture retailer spanning four continents.
To help support transformation in SA’s asset management sector, Sowetan Money has launched a monthly series profiling easily accessible and affordable unit trust funds managed by black asset managers. In the third of our series we find that track record, trust, investment philosophy and strategy are key building blocks for success.
Department chain Woolworths said on Thursday it had turned around its fashion, beauty and home business after fixing poor product choices in clothing, which had weighed on its sales the previous year.
Woolworths shares jumped more than 8% to a 6-1/2-month high after it said sales in its fashion, beauty and home business in the 52-weeks to the end of June rose 1.