Part time jobs, full time hustles! Investing for the future, doesn’t have to cost you the present!

Depending on your needs, wants and financial goals…EasyEquities offers you the choice between two accessible and flexible retirement options that come with tax benefits,

A Retirement Annuity (RA)and a Tax Free savings Account(TFSA).

TFSA
A TFSA allows you to invest with loads of flexibility. You can contribute to and sell out of your investments at any time, though with all the perks of compound interest coupled with not having to pay any tax on your investments.

Your maximum annual contribution in a TFSA is R36 000 per year tax free! You can fund this account by transferring your money from your EasyEquities ZAR wallet.

The amounts you deposit into your TFSA and invest with are made from your salary after all tax deductions have already been made. The difference here is that you won’t get any tax rebates when you apply for your tax return, but you won’t be taxed on any capital gains, dividends or interest earned on your investment.

RA
If you’re someone who needs a bit of help keeping your hand out of the cookie jar, an RA might be the way to go. You’ll get access to your RA investments once you hit 55, ensuring you keep your nest egg untouched and able to continue growing until you are ready to retire. An EasyEquities RA allows you to pick the unit trusts or bundles you want to invest in, gives you complete control over whether you want to change or adjust your portfolio, and transparency to monitor your performance along the way.

Contributions into your EasyEquities RA are done after your salary has been taxed and landed in your bank account. You can then apply for a rebate in your tax return which can be up to 27,5% of the amount you invested for that financial year, and is also subject to a maximum of R350 000 per annum.

Read more about Tax free Savings Accounts and Retirement Annuities here:

Disclaimer: Any opinions, news, research, reports, analyses, prices, or other information contained within this research is provided by an employee of EasyEquities an authorised FSP (FSP no 22588) as general market commentary, and does not constitute investment advice for the purposes of the Financial Advisory and Intermediary Services Act, 2002. First World Trader (Pty) Ltd t/a EasyEquities (“EasyEquities”) does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information (i) contained within this research and (ii) received from third party data providers. You must rely solely upon your own judgment in all aspects of your investment and/or trading decisions and all investments and/or trades are made at your own risk. EasyEquities (including any of their employees) will not accept any liability for any direct or indirect loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on the market commentary. The content contained within is subject to change at any time without notice…(read more)

LEARN MORE ABOUT: Retirement Annuities

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