Death and Debt

[diapason]

Must i assume the RA payout would go to cover the debt?

Retirement funding is protected from creditors.

 

[FGRL]

Retirement funding is protected from creditors.

Oh thank goodness!! Ok, that’s my question answered then! Thank you!

 

[diapason]

Now I’m over 40, living month to month in an overpriced rental

Whereabouts in Cape Town are you and what type of accommodation and cost? How far from your work?

 

[FGRL]

Whereabouts in Cape Town are you and what type of accommodation and cost? How far from your work?

Relevance?

 

[diapason]

Relevance?

Since you are the sole breadwinner and are concerned about your financial situation it makes sense to see whether your accommodation costs can be cut without adding massively to your daily commuting costs.

 

[FGRL]

Since you are the sole breadwinner and are concerned about your financial situation it makes sense to see whether your accommodation costs can be cut without adding massively to your daily commuting costs.

Yeah, it’s a tough one... I live 5 minutes from work so save petrol (and vehicle wear and tear costs) but I pay R11.5k a month in rent (2 bed). I could move further away and pay between R9.5k and R10k a month in rent but is it really worth it if I have to pay the petrol and wear and tear costs? I can’t move to a bachelor flat (not can’t rather won’t) and believe me when I say I’ve looked for safe, secure and reasonable accommodation for less than R10k and haven’t really found anything cost effective. I’m not actively in debt, I live a comfortable life but that life doesn’t reach to savings and other “in case of emergencies” types of situation. The quote “The more you earn the more you spend” rings true here - it’s not a master of being in trouble, it’s a matter of being an idiot and not saving!!