Wealth management for beginners, Part 1: Explaining asset classes – Rich Mashayanyika (Director Cornerstone Asset Management) With the new year in full swing, Cornerstone Investment Advisory Services are even more committed to growing and building the wealth of our valued clients. We believe that one of the biggest steps to financial freedom is education and […]
A year in review – what the South African economy has taught us in 2018 – Paul Damant, CFP (Director, Cornerstone Asset Management and Managing Director, Cornerstone Financial Services Group of Companies) Let us consider the glass “half full” rather than “half-empty”. 2018 has undoubtedly been one the toughest economic years that South Africa has faced in […]
The South African Medium-Term Budget Policy Statement (MTBPS) delivered by Minister of Finance -Tito Mboweni – on the 24th of October 2018 disappointed the markets as fiscal slippage was not addressed.
Over the last few years, it would be an understatement to say that the South African economy has been volatile and completely unbalanced. This reasons for this are widespread, but political changes and instability both locally and abroad played a large part.
September was another eventful month for South African economics. The SARB kept interest rates unchanged at 6.5% which was in line with market expectations and the August inflation figures 4.9% announced in September surprised the markets on the downside.
It’s an unfortunate reality that many South Africans will never be able to retire comfortably. What’s even sadder is that despite saving for decades, many retirees end up losing vast amounts of wealth because of badly structured investment strategies.
The markets in August 2018 were dominated by news of Rand weakness which plumbed fresh two-year lows, caught up in emerging markets storms and the recent announcement of a domestic economic technical recession.
As a species, our life expectancy has increased exponentially over the last century alone. In 1900 the global average life expectancy was 31, in 1950 it increased to 48 and by 2014 it was 71. We keep getting older and older, and each generation is expected to live about a decade longer that their predecessors – in particular the female population, whose longevity is reigning supreme.
Markets in July 2018 were mainly dominated by the U.S economic growth data which accelerated by an impressive 4.1% q/q in Q2 2018. The improved growth being boosted by consumer spending, solid business investment and net exports.
The South Africa economy continued to struggle in the second quarter despite the more positive political environment. The weakening rand, high oil prices and the increase in the value-added tax (VAT) rate in April put pressure on consumers,