Personal Finance

Instead of viewing a year-end bonus as a short-term windfall for spending or debt, South Africans should strategically deploy it as a “wealth accelerator” to fast-track long-term financial goals like home ownership or retirement. The most powerful tools for this are Retirement Annuities (RAs) and Tax-Free Savings Accounts (TFSAs), which offer tax-free growth to maximize compounding. RAs provide immediate tax relief and enforce long-term discipline, while TFSAs offer flexible, tax-efficient access for mediumContinue Reading