Setting up a trust?

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guest2013-1

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Hi,

In a previous thread stoke mentioned you can setup a trust for R20 000 and get a pay-out monthly of R4000 per month forever. (This was in the R1 million thread)

How would I go about doing something like that? I would love to setup a fund like that for my folks and my nieces/nephew. (While I'm still able to)

Any pointers?
 
You invest only r20k and get a return of r4k per month in perpetuity?

I'd love to know how to go about that (and avoid a prison term).
 
AcidRaZor said:
Hi,

In a previous thread stoke mentioned you can setup a trust for R20 000 and get a pay-out monthly of R4000 per month forever. (This was in the R1 million thread)

How would I go about doing something like that? I would love to setup a fund like that for my folks and my nieces/nephew. (While I'm still able to)

Any pointers?
Click to expand...
20k->4k monthly is not possible with consistency. That is like 200%+ return.:rolleyes:

Acid monthly payout will be more like R250 on R20 000.
 
The cost of setting up the trust would be about R20K peeps.
Then with the remaining R980000 in the trust you should be able to get at least R4000 a month from it, with enough money remaining in the fund to pay for the admin and build the cash.

Google for Trust Fund Administrator.
 
OOOOOOH Ok, so you meant with the entire R1 mil.

Eish. Now to work towards my R1 mil :)

I was just thinking. Maybe i should put that in my testament for when I die. that (if I still have debt) that the debt would be settled and that with the rest of the money a trust be setup to pay out x amount every month to whoever I deem in my will & testament

I'm worth around R1.5mil dead anyway. So if I should die now that would certainly help my mom/dad to retire without worrying about income or if they die before me, I could setup my sister with the money and they don't have to worry about food/rent/school fee's and such...
 
stoke said:
The cost of setting up the trust would be about R20K peeps.
Then with the remaining R980000 in the trust you should be able to get at least R4000 a month from it, with enough money remaining in the fund to pay for the admin and build the cash.

Google for Trust Fund Administrator.
Click to expand...

LOL, wouldn't you get more if you just put it in the bank?

IIRC R1mil in the bank would be about R15000 a month
 
Keeper said:
LOL, wouldn't you get more if you just put it in the bank?

IIRC R1mil in the bank would be about R15000 a month
Click to expand...

With a interest rate of 11% it would amount to R110 000 a year which you would divide by 12 and it would be R9166.66 a month.

Might seem a lot now, but in 10 years time? You need to put a big portion into building the capital balance (and thus compound interest) or else it becomes worthless.
 
AcidRaZor said:
Hi,

In a previous thread stoke mentioned you can setup a trust for R20 000 and get a pay-out monthly of R4000 per month forever. (This was in the R1 million thread)

How would I go about doing something like that? I would love to setup a fund like that for my folks and my nieces/nephew. (While I'm still able to)

Any pointers?
Click to expand...

:eek:

Sign me up

:D
 
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