65 Year Old Granny Earning R 124k Per Month TAX FREE On A Cruise Ship! Money Audit Show Ep. 5
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- Опубликовано: 8 сен 2024
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In the Fifth episode of the Money Marx Money Audit Show, we explore the interesting finances of a 65 year old granny who is practicing as a nurse on a cruise ship!
We will look at her income, expenses, debt and investments to see where she could potentially better structure her finances in order to reach her goals of retirement.
This episode is really important, as I will explain how Medical Aid Plans work, how South African expats are taxed and what one need to consider when getting closer to retirement.
I think we can all learn a ton from this episode, and I really hope that you guys will enjoy the content!
If you want to be featured anonymously in a future episode, then gooi me an email at moneymarx101@gmail.com. Lekker!
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My name is Dr. Pieter Marx de Villiers, and I'm a Veterinarian turned Financial Advisor from South Africa who aims to retire by the age of 35. Follow me in my journey towards Financial Freedom in (hopefully) just 10 years! :)
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Let’s face it, school did not teach us much about managing our money properly, and seeing that there are SO many financial traps that we are destined to step into if we are not careful, I want to make you aware of these potholes and show you how to avoid them and how you can get out of them if you are already trapped.
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Lekker!
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Loving these Breakdowns, this is basically a FREE Consultation
Dankie fer Money Marx
My 2c:
1. She needs to cut down her expenses, especially those subscriptions, gifts etc
2. She needs to get figure out what she is going to do for medical aid medical aid
3. No need to have more than 300k in Emergency fund, put the surplus in discretionary aggressive funds (eg SP500)
4. Similarly, move the 1.2 million from Fixed deposit to some aggressive fund like SP500.
5. She needs another source of income in SA, during her off months
6. She needs to max retirement contributions from the SA income to limit her tax burden
7. Maybe sub let out her home while she is away
8. Take a risk and put 100k in Tesla
Pieter I think you are absolutely GREAT! I discovered your channel by accident whilst watching a Sygnia Webinar on “How Dynamic Drawdowns are Redefining Retirement”. I’m 68 years old, work and live in the UAE, plan to retire this year (returning to RSA), have been an active investor for several years and currently looking into (reviewing) my overall financial goals prior to retiring. I must compliment you on your efforts. You are spot on with your content which by the way is simple to understand, unbiased, factual and EXTREMELY educational. Well done! Keep up the great work! You are a Gem and I’m confident you’ll be successful in whatever you wish to achieve. Kudos to you.
Once she retires and is back in SA full time, some of her expenses (food, transport) will increase significantly.
Thank you Pieter for the awesome content as always🙏 I would really appreciate a video on retirement annuities and any advice you can give to people who have already retired 🙏🌻
Valuable info thanks Pieter, keep up the good work.
Hey Pieter.
Discovered your channel today.
Awesome content and information.😎
FANTASTIC analysis. I learnt SO much in this one video. Thank you!
Awesome video - learning so so much from this channel! 😀👍👍
High quality content as usual, thanks Pieter ! Very interesting profile.
Thanks for putting this content out there
Thanks for this series Pieter. Its very entertaining and informative, love watching it!
Great info! Does anyone know if retired expats in SA are taxed on their foreign pensions.?. Thus, an individual who is NOT South African that built up their pension in a foreign country. Then, they decided to retire in SA as a permanent resident..
Very interesting stuff, even for me at age 68. Is it possible to add cash to an existing living annuity (10X) in my case. I might be a little "heavy" on cash.
Hey man please make a video about the new EE R25 monthly fee and how to avoid it...
so far the easiest way I've found is to deposit R1 per month - its R12/year, and its your own R12 investable money vs R300 down the drain. just have to remember to do the deposit every month 😵💫
This is great, thank you. If abroad, should you still get cheap medical aid plan before 35?
Hi Piet. Did you not do a we bull video some months back ??
Mens kan net jou videos kyk voor jy CFP skryf dan sal jy pass : )
Life inunity explain more pls
Looking to invest in fixed deposit for 5 years ( nominal interest) any suggestions on best and safest source.
Why increase retirement funding. The tax benefits is deferred because her taxable income is so low. Pension paid from retirement funding is taxed as income. Dividends and capital gains paid from a discretionary portfolio will be taxed as max 20%.