Retirement Annuities

Question is.. is it worth the risk though ? personally i'm not convinced anymore hence i keep it to minimum and upping discretionary savings via etf which at some point can be taken abroad (can do the same with tfsa i guess but then limited fund selection).
 
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Got a nice EAC :). The other costs in year 1-5 are the penalties if I withdraw so it’s not really a loss.

Certain bonus are excluded in the calf. Like your cash backs.
 
beefymoocow said:
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Got a nice EAC :). The other costs in year 1-5 are the penalties if I withdraw so it’s not really a loss.

Certain bonus are excluded in the calf. Like your cash backs.
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My last bonus was R29 000 .... and R9500 was performance fees (lol). 3% growth over 9 years ! (priceless) Look past the bonus stuff ! (no jokes)
 
zerocool2009 said:
My last bonus was R29 000 .... and R9500 was performance fees (lol). 3% growth over 9 years ! (priceless) Look past the bonus stuff ! (no jokes)
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Shame. That’s low growth. Glad I’m not with Sanlam or your fund. Also got above 10% gain on my fund for the year.

It was a good year for most funds.
 
Discovery offers these “bonuses” on their RA too. It’s just marketing to swindle people. Nothings free!
 
Hmmm...Sanlam Echo Bonus...where do I start...I was swopped to this product by my friendly adviser a few years back. I wasn't in the mood to get hit by penalties to get out of this after I finally saw the overall cost structure, so I still have it but the majority of my contributions are now going to simpler, self-managed investments.
 
Has anyone taken a look at the Outvest RA?

It starts off at a cost of 1.5% PA up to 300k. From then on its a fixed* cost of R4500 PA up to R2250000. After that it's 0.2% PA.

*This grows with inflation though.

They are heavily pushing that fixed cost, which irks me because I wouldn't call it fixed. But once you hit that high bracket it's quite inviting to move.

I worked out that it's cost effective to go with 10x or Sygnia until you have around 450k, and then move to Outsurance.

Of course, not being a fan of them doesn't help matters. But I try look past that.
 
I've read through most of the comments in this thread... Would appreciate it if you guys could give me some advice.

I currently have an investment Allan Gray and another with Momentum. At the moment it looks like neither of these have performed well at all for the past year. A friend recommended Sanlam Cumulus Echo. I noticed that nobody here seems to like it.. Just to add to this, my broker changed companies 4 times over the past three years. I don't see any benefit at all to pay him a fee for spending more time on Pnet than he is, paying attention to the performance of my investment.

So, my question is. What would you say, are the top 3 options to consider, and can/should I manage my own RA?

I don't want to pay brokerage fees if there's no benefit in doing so. To be honest, my portfolio at the moment isn't large enough to require a professional to take care of it, and I want to move my investments now so I don't have to suffer the penalties later on.

Thanks in advance for your responses.
 
I_am_Kaos said:
I've read through most of the comments in this thread... Would appreciate it if you guys could give me some advice.

I currently have an investment Allan Gray and another with Momentum. At the moment it looks like neither of these have performed well at all for the past year. A friend recommended Sanlam Cumulus Echo. I noticed that nobody here seems to like it.. Just to add to this, my broker changed companies 4 times over the past three years. I don't see any benefit at all to pay him a fee for spending more time on Pnet than he is, paying attention to the performance of my investment.

So, my question is. What would you say, are the top 3 options to consider, and can/should I manage my own RA?

I don't want to pay brokerage fees if there's no benefit in doing so. To be honest, my portfolio at the moment isn't large enough to require a professional to take care of it, and I want to move my investments now so I don't have to suffer the penalties later on.

Thanks in advance for your responses.
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Go direct, meaning, do the little admin yourself, and put the risk in your own hands, then you cant blame someone who will blame someone else.

Related to RA's, you cant really take alot oversea's (and the current growth over the last few years wasnt that great).

If you want a RA, or to move it doing a section 14 (look at Sygnia, they did 12.5% last year)
 
zerocool2009 said:
Go direct, meaning, do the little admin yourself, and put the risk in your own hands, then you cant blame someone who will blame someone else.

Related to RA's, you cant really take alot oversea's (and the current growth over the last few years wasnt that great).

If you want a RA, or to move it doing a section 14 (look at Sygnia, they did 12.5% last year)
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Thank you for all the info ZeroCool.

I will look into Sygnia and what their figures have been for the past 5 years to compare to what I received.
 
I_am_Kaos said:
These are Allan Gray's rough figures.

View attachment 772260

I suppose it's not bad, but from what I've seen, could have been a lot better.
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Coronation Balanced Plus:
3 years - 6.0%
5 years - 5.3%

10X:
3 years - 7.1%
5 years - 6.4%

Sygnia Skeleton 70:
3 years - 7.2%
5 years - 6.3%

Not a total train smash but could have been slightly better. All the funds show had negative growth in 2018 (-3% or worse)
 
zerocool2009 said:
Go direct, meaning, do the little admin yourself, and put the risk in your own hands, then you cant blame someone who will blame someone else.

Related to RA's, you cant really take alot oversea's (and the current growth over the last few years wasnt that great).

If you want a RA, or to move it doing a section 14 (look at Sygnia, they did 12.5% last year)
Click to expand...
I am definately stopping Echo and go to Sygnia, directly. See once off investments is 20K minimum. I plan to make yearly 20K investments from my bonus.
 
LPCPT said:
I am definately stopping Echo and go to Sygnia, directly. See once off investments is 20K minimum. I plan to make yearly 20K investments from my bonus.
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It aint that big admin to do at all. If you need help, PM me please.
 
LPCPT said:
I am definately stopping Echo and go to Sygnia, directly. See once off investments is 20K minimum. I plan to make yearly 20K investments from my bonus.
Click to expand...
That's only the initial lump sum. Additional lump sum contributions can be R5k or just do a debit order for R500 and cancel it after.
 
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