Like I have said, if you are starting now to save and max the R100 000 in month 3, all good.
If you have investments of R2 000 000 and earn more than the max interest of R23K, then review what you have as SARS will hold their hand
Its a monster of an estate. I must honestly say, it aint bad that we have so much savings, but the SARS leg is putting me off big time :(
I cant really say our levels are to high. If we have a paint project, it cost roughly R7 000 000
Lets say the BC have a nice big reserve fund, and pay R250 000 to sars per year (for interest earned)
Cant the BC do better things with that money (rather to pay SARS) ?
1) Cant the BC buy apartments and rent it out (but then it is again rental income)
2) Maybe buy shares ?
Related to Tax Free accounts. I moved my one TFSA from a big bank to buy ETF's. In one week I made more than before (dont go the bank route with that honestly). Much better vehicles out there (and take EVERYTHING abroad)
Just take into consideration ... Just having one account at 9% is dumb. So spread out (to max the R23K a year) overall (open up money market accounts with good rates also)
Thats my motto now. I wasnt really into the savings (earn interest before). Tyme changed my view on that
The only penalties payable are the one's stated in the contract itself. Even if you left it paid up, its a lower cost (without a doubt), BUT you can still do better. I doubt there will be penalties for stopping a RA (but find out).
I had a rude awakening, a MEGA fight with a big firm. I did a...