By Myrna Sachs, head of Alexforbes Health Management Solutions Mental health is a complex issue, one which many of us take for granted during times when all is going well in our lives. But anything can affect our mental wellbeing, including changes in one’s financial or social circumstances, traumatic experiences, losing a loved one, biological factors and underlying medical conditions. We take a closer look at some of the causes of mental health issues, and how they should be addressed: Loneliness We all experience loneliness differently, which should not be confused with being alone (not having people around us). Loneliness
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By Rita Cool, certified financial planner at Alexforbes The start of the new year brings ‘tax season’ upon us – a good time to review your financial situation and use any available tax benefits before the end of the tax year on 28 February. You have until this date to make additional contributions towards a retirement fund, a retirement annuity (RA) or a tax-free savings account (TFSA) to get the benefit in time for your next tax submission. The South African Revenue Service offers generous tax deductions when you make contributions to your RA, pension or provident fund. This means
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In a history-making voyage, the first complete crew from the Royal Cape Yacht Club Sailing Academy hailing from marginalised communities has crossed the finish line of the 50th Cape2Rio yacht race, after a thrilling battle to gain third position. The dreams of five young South Africans came true on Thursday as their boat, the Alexforbes ArchAngel, arrived in Rio de Janeiro after 24 days and a 3,300 nautical mile ocean crossing from Cape Town to Guanabara Bay. Skipper Sibusiso Sizatu (30), first mate Daniel Agulhas (29), Renaldo Tshepo Mohale (29), Azile Arosi (22) and Justin Peters (21) departed on January
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Alexforbes ArchAngel Cape2Rio2023 – Race update (16/01/2023 – 06:00:00 SAST) – Day 14 Distance sailed since the start for the Alexforbes ArchAngel is 1725NM. Current position: Line Honours (first vessel to cross finish line) – 8th Current position: IRC (system of handicapping advantaged vessels during race) – 4th Update message from the Alexforbes ArchAngel crew today:  Week 2 update Fourteen days at sea, lots of hours and miles have been covered, and sailors are starting to feel it but the excitement is still going strong as we look at a few more days to go until the finish line. The
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With just a few weeks to go until the starter’s gun fires for the 2023 Cape2Rio, the Alexforbes ArchAngel team is putting final touches to their boat and packing for the race across the South Atlantic Ocean. Alexforbes ArchAngel crew, from the Royal Cape Yacht Club Sailing Academy, comprises skipper Sibusiso Sizatu (30), first mate Daniel Agulhas (29), Renaldo Tshepo Mohale (29), Thando Mntambo (23), Azile Arosi (22) and Justin Peters (21). Onerous amounts of paperwork have been completed, new sails hoisted and inspections completed, but preparing to sail 3 300 nautical miles aboard a tiny vessel takes mental as well
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National Treasury will table the 2022 Medium-Term Budget Policy Statement (MTBPS) on 26 October 2022 within a challenging global economic outlook. In its World Economic Outlook released last week, the International Monetary Fund expects 34% of the global economy to be in recession this year or in 2023, up from just under 5% at the beginning of the year. Russia’s war on Ukraine heightened the acceleration in global inflation, particularly food and energy. The Euro area’s economy is in recession due to the energy crisis following the reduction of gas supplies from Russia. The United Kingdom’s inflation, interest rate, growth
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John Anderson, head of Investments, Products and Enablement at Alexforbes In celebration of Heritage Month, we need to focus on the role sustainability plays in changing the landscape for future generations. In 1987, the United Nations Brundtland Commission defined sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” Today, this is more important than ever. The recent floods in KwaZulu Natal as well as increasing unrest as a result of inequality are good examples that sustainability considerations are increasingly important and require today’s generations to address the issues for the benefit
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Riccardo Fontanella, Head: Technical Marketing at Alexforbes The war between Russia and Ukraine has affected trade and financial markets throughout the world. Many countries, including South Africa, rely on both these countries to import and export goods and resources. The world’s response to the war – putting severe sanctions in place against Russia – has also made goods and resources less available and more expensive. Consumers are feeling the pinch. The rising cost of petrol increases transportation costs and ultimately consumer goods, resulting in a lot of uncertainty about the future. These events, and the way people feel about them,
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Viresh Maharaj, executive for strategy and customer experience at Alexforbes  Group insurers were the unsung heroes The Covid-19 pandemic caused substantial social, personal and economic struggles across South Africa with the long-term effects of the loss of lives and livelihoods still being felt. In the desperate times of the cascading waves of Covid-19, South Africa’s life insurers, and especially group insurers of employee-based schemes, played a critical role in ensuring financial inclusivity by providing insurance coverage to claimants. Such group policies provided financial assistance to thousands of families who suffered the loss of their loved ones during the pandemic. Group
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By Belinda Sullivan, head of corporate consulting strategy at Alexforbes The majority of people do not retire with enough retirement savings, and with medical advances people are living longer, which makes saving more for your retirement even more crucial. You can claim a tax deduction of up to 27.5% a year based on the greater of your remuneration for PAYE purposes or your taxable income (up to R350 000) for pension, provident and retirement annuity fund contributions.  Taking advantage of this tax break is the savvy way to save. By taking advantage of the tax benefits, our research shows that individuals
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