Every year, gyms are full in January.
However, by this time – only two months later – there is decidedly more breathing room.
Every year, right before the end of the tax year, investors pile into Retirement Annuities (RAs) and Tax Free Savings Accounts; then they largely ignore their financial planning until the following year.
Parents with minor children are always planning to get to their wills, but have many other things to do first.
A Survey in 2001 showed that 69 out of every 100 employees feel that their retirement savings are too low; 24 out of 100 of them plan to increase their savings, but only three out of 100 actually do it.
Many people prefer to “wait and see” during times of uncertainty.
Many people suffer from this procrastination problem.
Ingram discussed a number of ways to get around wealth-destroying procrastination:
Break up your tasks into small, easily achievable steps.
If you are in a serious relationship – set joint goals and work together to achieve them (e.g. I will arrange the RA top ups; you make an appointment for a new will).
Tell a friend and set a deadline (e.g. tell a good friend that you will buy them a case of whiskey if you have not increased your RA by next Friday).
- If you are uncertain about making an investment, because of volatile economic and political climates, phase in your money over time.
For more detail; listen to the interview in the audio below.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.
The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.
The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.
The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.
Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.
A school with individual learning paths for each child, and no need for textbooks? SPARK Schools CEO Stacey Brewer joins Bruce Whitfield.
In the car feature, our very own car guy Tumelo Maketekete shares some tips and tricks to buying a car on a R100 000 budget.
Tensions are rife in the East Joburg township as the community attacked and killed criminals.
Khabazela shares YouTube videos gone viral including a barmaid hitting a colleague who slapped her rear during a routine.
Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.
Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.
The Money Show’s Bruce Whitfield interviews DJ Zinhle about her attitude to money (hopes and fears, successes and failures, etc.).