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Personal Finance

How To Plan For The Future

How to build and preserve your estate for the future.





We spend a lifetime developing a financial estate but, somehow, never find time to ensure that the assets built up are free from estate duty which, in South Africa, is based on your worldwide assets. However, this does not mean that you cannot plan accordingly.

Regardless of where your assets are invested, whether onshore or offshore, they will form part of your overall estate. In the last two budgets, comments have been made that estate duty may need to be reviewed. This does not decrease the need for serious estate planning.

Plan Accordingly

Estate planning always involves weighing up various priorities and needs:

  1. How much would you like to leave to your spouse? Importantly, anything which accrues to the surviving spouse is exempt from estate duty.
  2. How much would you like to leave to your children, or other individuals, and when?
  3. How important is it for you to avoid paying estate duty? Currently this is 20% of any assets in excess of R3,5 million per spouse, in addition to assets bequeathed to a spouse, which are effectively exempt.

Growth Through Trusts

It’s so easy for spouses to just leave everything to each other. However, you need to understand that, by so doing, there is the worry that the widow/widower could remarry and bequeath the remainder of the estate to a new spouse, resulting in the children losing out. A recognised method of protecting the children’s inheritance, whilst simultaneously providing for the remaining spouse, is to bequeath your assets to the children if majors, or alternatively, to a trust, if minors. In the case of minors, for their benefit at age 25 or 30 for example. Then you would often leave assets to a trust, but provide the surviving spouse with a life usufruct. In this event the value of the usufruct must be calculated, as this is exempt from any estate duty payable.

When reviewing an individual’s financial plan, in which the Will forms an integral part, I frequently observe that spouses have planned their estate by using a trust, but only upon their death. I have difficulty in understanding the reasoning behind this because, if you intend to have assets transferred into a trust upon your death, surely it makes sense that some of these growth assets be transferred during your lifetime. This ensures that the growth is captured in the trust and avoids the growth attracting estate duty upon death.

Tax Savings

A further estate duty saving mechanism is to make an annual donation of R100 000 into the same trust, without attracting any donations tax, and investments in the trust. All growth will avoid any further estate duty.

Consider the Options

These questions need to be answered:

  • What percentage of your estate should be bequeathed outright to the surviving spouse?
  • What percentage should go to children and to the trust? The answer depends on the size of the estate and what percentage the deceased spouse wants the survivor to inherit outright.

In my opinion it’s always good to ensure the independence of a surviving spouse and children, and this can be achieved by leaving some capital to the spouse, free from trustee control, and leaving some to the children, who are then independent of the remaining parent’s longevity. This gives all the family a degree of financial independence. So often one sees large assets held within a trust and yet the family are unable to make use of any of the capital. This suggested course will ensure everyone has some financial self-sufficiency, and the bulk of the monies is preserved in the trust for future generations. Spouses need to weigh their desire to pay as little estate duty as possible against achieving all their other important objectives.

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Personal Finance

6 Ways To Develop A Millionaire Mindset

Chasing money has remarkably little to do with getting rich.



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If you truly want to have a million dollars, you must first be and think like a millionaire. By doing so, you will attract the necessary resources to you.

So, you want to become a millionaire entrepreneur? You’re not alone. Many dream of leaving their job and becoming their own boss, enjoying the various millionaire lifestyles we watch on TV. But there’s a difference between those who dream of becoming millionaires and those who do. And it begins and ends with mindset. If you don’t develop that mindset, you will continue to spin your wheels, working just as hard, but never going anywhere.

Developing a millionaire mindset requires you to stretch your thinking. Start by developing the following six attributes.

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Personal Finance

4 Ways To Become A Millionaire Even When You Start With Little

It costs nothing to take advantage of the limitless opportunities online.

Timothy Sykes




The hardest part of becoming successful is getting started to begin with. But despite the challenges ahead of you, there’s a way to become a millionaire when starting with little. I’m going to show you four reasons why you can become a millionaire with just a small investment.

1. First focus on learning, not big gain

Education is your greatest weapon. Focus on learning in the beginning. Don’t make the mistake of focusing on making huge gains in the beginning. Learn everything you can because this is how you build the foundations for long-term gains.

Related: 21 Choices Millionaires Make That You Aren’t Making But Should Be

They say that if a millionaire goes bankrupt they’ll nearly always be able to get it back. And that’s because they might have lost their money, but they have the knowledge of how to get back to where they need to be.

2. You can learn loads about any topic online


I’m grateful for the internet. It’s the single biggest library in the world. You’re reading this article right now and you’re acquiring knowledge you wouldn’t have been able to acquire 40 years ago.

Use the internet to its fullest extent, whether that’s through reading books, browsing articles or watching video tutorials. Set some time aside every day to learn something online. It could be a video series or a favorite blog.

When you get into the habit of learning regularly you’ll find that you advance much faster.

3. Focus on the niche you love

These days you can learn about anything and target the niche you’re passionate about.

This is what I was able to do with penny stocks. I found a gap in the market and provided knowledge to people who wouldn’t have otherwise being able to access this sort of information.

You can do that with absolutely any niche. When you find a niche you’re passionate about and you use the reach of the Internet you start to make huge gains.

4. Prove your expertise by creating free content

Your reputation as an authority is the new business card. There’s a reason I created a penny stock guide and made it free for all. You may have already seen ads for it on social media. The way to succeed with little is to create a reputation through your content.

Related: How To Become A Millionaire, Explained In 1 Minute

It’s the gateway to success because through free content you start to build relationships with others who value your work. And from there everyone gets richer.

You can do lots with a little

The days when you needed a huge investment to become successful are long gone. These days you can do so much with just a little. Find what you love, advance your knowledge in that area, and create a product that fulfills a need. Finally, work on building up relationships through portraying yourself as an authority on your subject.

Combine everything together and you can accomplish anything.

This article was originally posted here on

Related: 13 Habits Of Self-Made Millionaires You Could Adopt Today

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Personal Finance

10 Tips To Become A Millionaire This Year

Becoming a millionaire requires changing your mindset and implementing some changes.

Murray Newlands



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Becoming a millionaire may seem out of your reach, but it’s possible with the right attitude and guidance. The fact of the matter is your income can only grow as quickly as you do, so you need to change your mindset to achieve your goal of becoming a millionaire.

Once you have a millionaire mind, you can’t lose it, no matter what financial or business mistakes you make along the way. To get yourself there, you’re going to need some structure. To help you, I’ve outlined the top ten tips you should follow to become a millionaire this year.

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