Backlash over plan to force investment in state projects

I've already cut way back on my RA and investing more myself. This will encourage me to stop entirely and evaluate whether it won't be more beneficial to withdraw and invest it elsewhere.
 
Retirement, Ha! don't make me laugh, no one can retire in South Africa when you earn Rands. Maybe if you come from overseas but us locals. forget it. Stopped my RA a long time ago, waiting for the 3 pot system to come into effect and then I'll be pulling whatever I can out of it and reinvesting it into my company. Nuff said.
 
If this comes to pass I'll also be cashing out as much of my RA as possible with the 3 pot system and moving it to international markets. The tax benefits now do not outweigh the prospect of having no money to retire with because the ANC forced my investments into their corrupt schemes and failed government policies.
 
I don't think the African National Crookedness misunderstands anything here. Fascism has taken over.
 
Game over for anyone paying a pension fund. Thank God I got my pension fund paid out and took my funds abroad. Best decision I could have made 20 years ago.
 
B-1 said:
I've already cut way back on my RA and investing more myself. This will encourage me to stop entirely and evaluate whether it won't be more beneficial to withdraw and invest it elsewhere.
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The RA industry is already reeling from the new rules that only allow emigrants to cash in their RA's after 3 years of being a non-SA tax resident. This will just be a further nail in the coffin of the pensions and RA industry. Personally I've completely stopped investing in my RA and now send every penny I can offshore to my offshore bank account.
 
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Blackhand said:
Perfect way to stop retirement investment. Tempting to just dissolve one’s local retirement policies, eat the tax, invest what’s left the of money overseas.
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Stopped contributing to my RA about 5-6 years ago, close to finally pulling it out (of SA) next month. Cashed out pension around that time as well.

You're much better off investing it yourself than trusting the politicians to have your best interests at heart for the next 20-30 years.
 
rvZA said:
Game over for anyone paying a pension fund. Thank God I got my pension fund paid out and took my funds abroad. Best decision I could have made 20 years ago.
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They can stop paying and invest it themselves. Issue is people who are in pension schemes and can't withdraw.
 
Hamster said:
Stopped contributing to my RA about 5-6 years ago, close to finally pulling it out (of SA) next month. Cashed out pension around that time as well.

You're much better off investing it yourself than trusting the politicians to have your best interests at heart for the next 20-30 years.
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Same here. I had a couple of RA's from as far back as 1992 and stopped contributing to them all. Can't wait for them to pay out so I can invest those funds abroad too. Only problem, I do not think there will be anything left in 7-10 years from now, so not sure one will get anything from those RAs when the government is done. Nonetheless, I have come to grips understanding we will likely lose that money, or at least a huge chunk of it.

That being said, I agree, investing yourself is great. You do not need to be an investor. You do not need to know the markets. You do not need to know businesses. ETF's are great investments if you want to push your money abroad. For almost a decade now I kept pushing any additional money I get every day into my 5 chosen ETFs. I also keep pushing my normal monthly investment amount, and after selling my one rental property, pushed that monthly premium into the 5 ETFs as well. I have never experienced this growth in SA markets before.
 
Sometimes it’s important to eat your cake and to still have it afterwards)
 
That "attempted" hack looking mightily suspicious right about now:unsure:
 
rvZA said:
Same here. I had a couple of RA's from as far back as 1992 and stopped contributing to them all. Can't wait for them to pay out so I can invest those funds abroad too. Only problem, I do not think there will be anything left in 7-10 years from now, so not sure one will get anything from those RAs when the government is done. Nonetheless, I have come to grips understanding we will likely lose that money, or at least a huge chunk of it.

That being said, I agree, investing yourself is great. You do not need to be an investor. You do not need to know the markets. You do not need to know businesses. ETF's are great investments if you want to push your money abroad. For almost a decade now I kept pushing any additional money I get every day into my 5 chosen ETFs. I also keep pushing my normal monthly investment amount, and after selling my one rental property, pushed that monthly premium into the 5 ETFs as well. I have never experienced this growth in SA markets before.
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You don't need to know the market over 20+ years. Just invest in companies with good prospects and don't try to micromanage it.
 
Swa said:
You don't need to know the market over 20+ years. Just invest in companies with good prospects and don't try to micromanage it.
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I do not totally agree with this. Nonetheless, I found much, much better growth with my 5 ETFs rather than investing in single stocks. But, that is my opinion and have been doing this for almost a decade now.
 
rvZA said:
I do not totally agree with this. Nonetheless, I found much, much better growth with my 5 ETFs rather than investing in single stocks. But, that is my opinion and have been doing this for almost a decade now.
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5 you say?
 
ld13 said:
5 you say?
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Yep, I invest only in 5 ETFs abroad. That is that. Whatever amount I have, I split up between them.

VIG
IYY
SPY
VUG
VONG

Been doing great the past 8 years for me.
 
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