Quick Fact - Blue Chip

“Blue Chip” used commonly with large, national and financially sound companies "Blue Chip Company", comes from the colour of the poker chip with the highest value, Blue.

R.I.P NELSON MANDELA AKA MADIBA

TO THE WORLD'S GREATEST LEADER, WE WILL NEVER FORGET YOU MADIBA...R.I.P.

Kaizer Chiefs : Meeting the team and getting autographs

So here it is...the pics I captured of some of the Kaizer Chiefs Players while they were signing my card which I will be giving to my mother who is a Chiefs supporter...Congrats to Chiefs on winning the League and by the way Pirates is my team...                                

                                          Just before the team arrives...the area all set up

The long queue waiting for the players 

                                                                  Siphiwe Tshabalala

  Jimmy Tau signing my card

The legend Doctor Khumalo giving me back my card

 
                                                                 A view from the top

Stuart Baxter handing me my card back...

Parker signing my card

The players leaving

THIS IS WHAT MY CARD LOOKED LIKE AFTER THEY ALL SIGNED

THE END..................

Amakhosi parade travels through Johannesburg

I came across this video on Youtube and had to share it on my blog...The frenzy in the streets outside Absa Head Office on Tuesday 28 May 2013 as the Kaizer Chiefs parade bus approached Absa Towers was something else. There were vuvuzelas been blown all over, cheers, and fans running and dancing alongside the parade bus. I had the opportunity to meet most of the players and the coach Stuart Baxter and got autographs from some of the players and the coach and got my picture taken with the Absa Premiership Trophy (see my earlier post).

ABSA PREMIERSHIP TROPHY

A photo of a photo...lol...only because I have been waiting whole week for my digital copy which I have not yet received...Anyway I had the privilege of having my photo taken with the Absa Premiership Trophy last week Tuesday (28 May 2013) when Kaizer Chiefs were at Absa's Head office. Absolutely wonderful experience. A Huge Thanks to Absa for the picture...

THE BASICS OF A WILL

The following information is based on South African Law and rules applicable to wills. It is basic in nature and aims to help in understanding the basics of a will.

We hear about wills all the time. Some of our family members have a will, some don’t. We hear about people who died and had a will, and we hear about those who died and left no will. When a person dies without a will this sometimes leads to family feud over who gets what and who must not get anything. The rules of intestate succession (The Intestate Succession Act 81 of 1987) regulate how the estate should be distributed when a person dies without leaving a will.  

When a person dies without leaving a valid will then he will  have died intestate.

When a person dies leaving a valid will then he will die testate.

Who can make a will?

So the big question is who can make a will for when they pass away.

According to the Wills Act No. 7 of 1953 - every person of the age of sixteen years or more may make a will unless at the time of making the will he is mentally incapable of appreciating the nature and effect of his act, and the burden of proof that he was mentally incapable at the time shall rest on the person alleging the same.

So what is a Will?

A will is document in which a person called the testator prescribes how his property must be disposed of at death. This simply means that a person will use a will to legally declare who he wants to transfer his assets to at death. 

Some Advantages of a will

You get to choose who you want to give your assets to at death.

People with children can nominate a guardian in their will to look after the children until they become adults. A testamentary trust to manage the children’s inheritance can also be set up.

You can create a trust and appoint trustees.

Leaving a valid will

A will must be in writing, it cannot be made verbally.

Also note that a witness to a will may never benefit from a will. For example if Tamia wants Tyra to have her car when she dies, Tyra cannot sign as a witness to the will.

The will must comply with the formal requirements of the Wills Act. Therefore always consult with a Financial Planner or Financial Adviser or Attorney or qualified expert that can assist you when drafting your will. By doing this you can ensure that you will leave a valid will when you pass away. This is not a document that you want to take chances with, because if you do then when you pass away the chance of your will being declared invalid either partially or wholly are higher if you did not consult with a financial Planner or Financial Adviser or Attorney or expert when drafting your will.

The Johannesburg CBD

Earlier today I was browsing through my pictures on my phone and I came across pictures of the Johannesburg CBD I captured with my blackberry earlier this year, the 14th of February 2013 (Valentines day) to be exact. So what was a Durbanite doing in this huge city?, Africa's economic Hub. Yes that's right, Joburg is the leading economic city on the continent of Africa......Well I left Durban on the 31st of January to start my new job in Joburg. So I was kinda new to Joburg at the time I took the pics. I remember been so amazed by how huge the CBD was. I think its like 10 times bigger than Durban's CBD. So I took a few pics to always remember my first days in this overwhelming city. The CBD is just amazing to look at from a distance, below are the pics.

                                                         THE JOHANNESBURG CBD

ANOTHER VIEW

SAME RED BUILDING, VIEW OF THE OTHER SIDE OF THE CBD

Huge buildings everywhere (above)

RETIREMENT

Have you ever considered saving for retirement? Are you currently on a pension fund at work? Is that fund enough to sustain your lifestyle after you retire? These are all the questions you should ask yourself. An estimated 6 in 100 South Africans will retire successfully and maintain their lifestyles without ever having to revert back to working. The remaining 94 will either continue working or are forced to come out of retirement a few years after retiring in order to generate income. Some will be supported by their children until they pass on. Lets take a practical look at why most people wont be able to retire successfully.

In this example I will not adjust figures for future values or inflation, as the objective is to simply demonstrate the concept. Figures in South African Rands.

Laydon is a 25 year old male, its his birthday and he is starting his first job today. He works for an admin company and his Cost to company package is R 120 000 per annum, which is R10 000 per month. So from the age of 25 to 65, he has 40 years of work ahead of him. This translates into 480 months which means 480 paydays (40 years X 12 months).

Lets assume throughout his career his Package remains the same at R120 000 per annum. He contributes 7.5% to his pension fund, and his employer matches this contribution and also contributes 7.5%. Thus his total contribution is 15% per month to his pension fund. Note the employer contribution is included in the CTC package, so the monthly contribution is simply R10 000 X 15% = R 1500

Thus if we take R 1500 and multiply it by 480 months = R 720 000
His total savings over his career is R 720 000.
If we look at his annual salary at the time he retires its R 120 000, and his lifestyle is based on this income.
So if we take R 720 000 and divide it by R 120 000 to see how many years his covered himself for,
R 720 000/R 120 000 = 6 years

Note that in reality inflation, salary increases and pension fund growth will all affect this calculation. These were ignored to show the principle behind the calculation. 

Conclusion
Laydon has only covered himself for 6 years after retirement, and if he goes on to live until the age of 80, it means that from 65 - 71 he can live without working, but from the age of 71 he will have to start generating  an income again, and this can be done either by working again or by getting monthly income from his children.

This is the reality that many Retired South Africans will face if proper retirement planning is not done.