Wayne Potgieter Posted February 18, 2020 Posted February 18, 2020 We don't get anything remotely close to 22% in EU land as far as I can see... We don't even get anything even close to 12%hmmmm. The one I use has a 12 month @29%, 3 year @ 18% Wanna move here? [emoji3] (kidding) Stretch 1
gummibear Posted February 18, 2020 Posted February 18, 2020 Whats the average return on an RA now? Ballpark figures?2010-2015 my pension and RA's were at about 12-14% and **** i was smiling.The last 2 years they been around 7%. Captain Fastbastard Mayhem 1
Wayne Potgieter Posted February 18, 2020 Posted February 18, 2020 2010-2015 my pension and RA's were at about 12-14% and **** i was smiling.The last 2 years they been around 7%.7% is dismal. I can understand the frustration. gummibear 1
Captain Fastbastard Mayhem Posted February 18, 2020 Posted February 18, 2020 Thanks. So to those that are trying to work out the pros/cons of leaving an RA behind, that’s then pretty simple. I withdrew an RA that was growing at 12% per annum. Paid the tax on it and then put it in a ETF fund (similar to a satrix 40) at 22% growth. Simple decision really.That's bloody good, Wayne.
Wayne Potgieter Posted February 18, 2020 Posted February 18, 2020 That's bloody good, Wayne.our markets have had a good year. See previous post. This ETF spreads over the top 50 large NZ companies and last 12 months was near 30%. I’ve always been a fan of shares and the kiwi marketplace is resilient. One of my customers (AFT PHARMACEUTICALS ) has grown almost 80% in the last year. They make and sel Maxigesic and have been signing up some JVs with marijuana startups. So to bring it back to the original thread, cashing in a poor performing RA and investing elsewhere might not be a bad idea. gummibear and Captain Fastbastard Mayhem 2
Stretch Posted February 18, 2020 Posted February 18, 2020 7% is dismal. I can understand the frustration.I have mine in an old mutual RA. It's getting F all. It's really not a big enough chunk of change to warrant keeping it in SA even if I move it over to another policy. Just gonna bite the bullet gummibear 1
Stretch Posted February 18, 2020 Posted February 18, 2020 Yeah. After the sale of our house do we transfer the funds to Ireland and get very low growth or invest elswehere. From what I see the returns are low. Interest and inflation also low. Keeping in SA sure it grows but got to take into account the exchange rate and risk of goverment wanting the money.We kept ours in SA for a year in an investec account while we're waited for the exchange rate to improve. No fancy investment or anything but we still earned more with that interest than if we had moved it with the exchange rate at the time. We luckily moved it during the brief period of rama-euphoria. My theory..I don't like gambling with the ZAR exchange rate...... gummibear 1
coppi Posted February 18, 2020 Posted February 18, 2020 I you want to live in Africa......................bank north live south applies !
Spurs Posted February 18, 2020 Posted February 18, 2020 I have mine in an old mutual RA. It's getting F all. It's really not a big enough chunk of change to warrant keeping it in SA even if I move it over to another policy. Just gonna bite the bullet I can't believe some of the numbers being quoted here! I have had a small Liberty RA for about 12 years. A while ago I worked out my returns on it. The total balance is equal to the total of all of my premiums over the years. Essentially a 0% growth..... I then dug a bit deeper, and the fee's on the account are essentially equal to 25-30% of my monthly premium, so whatever minimal growth I am getting is being consumed by fee's. Really need to change things up, but not really sure what to do, apparently I can't consolidate it with my work Provident fund (i.e. can only go from a less strict fund to a more strict fund, and not vice versa) Captain Fastbastard Mayhem 1
Captain Fastbastard Mayhem Posted February 18, 2020 Posted February 18, 2020 I can't believe some of the numbers being quoted here! I have had a small Liberty RA for about 12 years. A while ago I worked out my returns on it. The total balance is equal to the total of all of my premiums over the years. Essentially a 0% growth..... I then dug a bit deeper, and the fee's on the account are essentially equal to 25-30% of my monthly premium, so whatever minimal growth I am getting is being consumed by fee's. Really need to change things up, but not really sure what to do, apparently I can't consolidate it with my work Provident fund (i.e. can only go from a less strict fund to a more strict fund, and not vice versa)Hey man, I can help you with this if you want me to... ping me a DM and we can chat. Spurs 1
Stretch Posted February 18, 2020 Posted February 18, 2020 I can't believe some of the numbers being quoted here! I have had a small Liberty RA for about 12 years. A while ago I worked out my returns on it. The total balance is equal to the total of all of my premiums over the years. Essentially a 0% growth..... I then dug a bit deeper, and the fee's on the account are essentially equal to 25-30% of my monthly premium, so whatever minimal growth I am getting is being consumed by fee's. Really need to change things up, but not really sure what to do, apparently I can't consolidate it with my work Provident fund (i.e. can only go from a less strict fund to a more strict fund, and not vice versa)Yeah those old traditional RAs are a heap of rubbish. I stepped contributing when I was 25 too. Look..I haven't been putting aside 10% of my income.. But still...20 years of contributions I would have expected to have better. Just not worth it to me to keep plugging away at this dead horse for another 10 years. The really annoying thing is that I stopped contributions about 3 months ago and by the time my FE if complete in prob going to have to pay another 15k or so in admin fees just for them to "manage it" every month Captain Fastbastard Mayhem 1
MrJacques Posted February 27, 2020 Posted February 27, 2020 The new budget has raised the foreign income cap from 1 Million ZAR to 1.25 Million: https://www.businesslive.co.za/money/2020-02-26-you-will-never-have-to-emigrate-financially-from-sa/ It seems like there might be changes coming to financial emigration as well: https://businesstech.co.za/news/finance/377555/new-tax-changes-aimed-at-stopping-people-from-leaving-south-africa/
Dubber Posted February 27, 2020 Posted February 27, 2020 This may be worth a read - make of it as you will... https://www.businesslive.co.za/money/2020-02-26-you-will-never-have-to-emigrate-financially-from-sa/
GrahamS2 Posted February 28, 2020 Posted February 28, 2020 hmmmm. The one I use has a 12 month @29%, 3 year @ 18% Wanna move here? [emoji3] (kidding)More details on this please Wayne. PM if you're more comfortable.
Wayne Potgieter Posted February 28, 2020 Posted February 28, 2020 More details on this please Wayne. PM if you're more comfortable.Happy to share in public https://smartshares.co.nz/fund-investor-report GrahamS2 1
GrahamS2 Posted February 28, 2020 Posted February 28, 2020 Happy to share in public https://smartshares.co.nz/fund-investor-reportThanks Wayne Wayne Potgieter 1
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