As we find ourselves on the brink of completing January, the first month of the new year, it's remarkable how swiftly time is passing. The year is in full swing, and I have noticed a renewed energy with people I have already met this month.
In the news this morning I read a statistic which highlighted that you are 20'000 times more likely to be born with 11 toes than you are to win the South African Lottery. I thought to myself that if those are the odds, we certainly do need to take control of our affairs and diligently start saving towards not only our goals but retirement as well.
With the end of the tax year fast approaching on 29 February, we wanted to bring your attention to the valuable opportunity you still have to optimize your financial portfolio.
Time is of the essence, and taking action now can make a significant impact on your future.
Consider increasing your retirement annuity contributions or contributing to your tax-free savings account before the deadline.
Additionally, making a lump sum ad-hoc payment can further enhance the tax benefits you receive. These strategic financial moves not only provide immediate tax advantages but also contribute to the growth of your investment over time.
It's essential to recognize that these incremental increases and top-ups play a crucial role in influencing your maturity values. By seizing this opportunity, you are not only safeguarding your financial well-being from a tax perspective but also ensuring a more prosperous retirement.
Wanting further information about the prescribed limits or have a questions, why not get into contact with us?
Have a good week!
Wallstreet Financial Services