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Last Will and Testament

Plan for when it is too late.

Momentum Irene

There are 2 definitions of an Estate:

  1. an extensive area of land in the country, usually with a large house, owned by one person, family, or organization.
  2. all the money and property owned by a particular person, especially at death.

We need to talk about the second definition.

Death is such an uncomfortable subject. Most don’t want to think about it, definitely don’t want to talk about it, never mind planning for it. Some fear death, and some just believe they are invincible.

One reason could be that, it is not really your problem. If you are no longer around, then it doesn’t really matter. But, it does. Especially if you have a family that depends on you.

The other reason could be that there are so many things that you don’t understand about the paperwork and taxes around dying. (Yes…taxes! It costs money, and you have to plan for that.)

So, while we have some time on our hands, let’s talk details.

If you are in an accident, and cannot speak for yourself, have you decided what you would like to say? Do you want to be resuscitated? Do you want to stay on a ventilator? You can have your say in a Living Will. If you do draft one, be sure that your emergency contacts know about this document, and what your wishes are.

If you do not survive an illness or accident, and pass away, there will be a lot of questions. You are probably responsible for paying some bills, your family has to survive financially, and you have passwords for bank accounts and emails and computers and Facebook. Perhaps even Tik Tok.

If you are divorced, and have kids, the child support agreements and divorce orders will have an impact on your current relationship or marriage, and you need to plan for that.

Most people will think that a Last Will would address all of these scenarios, but that is unfortunately not true. They get solved with a well thought out plan, where all scenarios get mentioned and mapped out.

There are clever ways available of saving money and taxes on an estate, but you have to prepare for that in advance. Unless, of course, you want the state to get hold of your Estate and decide what will happen with everything that you owned.

At Momentum Irene we can help you plan for the inevitable, even during lockdown.

There are numerous technological ways that we can communicate with each other without actually meeting face to face.

Let us take you for a virtual coffee, and talk about you, for when you can’t.

Article by Michael Pfister, Franchise Principle at Momentum Irene. Michael joined Momentum in 2014, and has been in the Financial Planning industry since 2004.
Momentum Multiply

Momentum Multiply – There’s hope, no matter what.

Momentum Irene

Our worlds have changed and we quickly had to adapt to a new way of working, socialising and even doing our everyday mundane tasks like going to the shops. On the bright side, our hands have never been this clean. But even in the direst of situations, there’s hope. May we find hope, may we treasure the small things and may we stay safe and healthy.

Yours in wellness,

Other

HOW TO CHOOSE YOUR FINANCIAL ADVISOR

Momentum Irene

If you take a look at businesses today, it is all about budgets and targets, and achieving them by any means possible. To be honest, it is no different in the financial industry. It is a numbers game. The more cases you close, the more money you will make. Similar to any retail shop, really. The more people through your door, the more bread you can sell, the higher your profit.

There is a significant difference though – Financial Planners have their clients’ livelihoods in their hands.

How many financial advisors have you dealt with in your life? How many didn’t answer and/or return your calls? Just ignored your email when you were in need of assistance, needed to make a change, or take a payment holiday?

The Salesman

A salesman is only in it for the money, and you can spot them easily. They go door-to-door selling you a hoover or a policy. They are not concerned with what you need or how much you can afford. They are only trying to reach their quota. They do not offer solutions and do not educate.

If your Financial Planner’s goal is chasing money and wealth, there are some tell-tale signs from the start.

  1. Are they asking you about YOUR needs? (They really should)
  2. Are they telling you what you need, without taking your financial situation and financial goals into consideration? (They really shouldn’t)
  3. Are they trying to sell you the maximum number of products, at the highest price?

The above approach is often used when giving financial advice to clients – making all high earning products and services most appealing to close the deal. A Salesman will generally look at an upfront commission instead of a monthly commission. (Note, this is not ALWAYS the case – discuss your options with your financial advisor). Their focus moves away from the clients’ needs and is rather focused on the sale opportunity – don’t get fooled by the smooth-talking Salesman.   

The Financial Advisor

Any Financial Advisor worth his/her salt, is there to help their client with proper financial plans and strategies by giving financial advice. A first session with your advisor should start with a Financial Needs Analysis (find out what is a Financial Needs Analysis)

Based on the results of the FNA, the advisor should advise on smart financial strategies, investment planning, cash management, education, last will and testament and other areas to help the clients reach their financial objectives and goals.

By law, a financial advisor should review a client’s financial plan at least once per year.

The relationship between client and advisor must be built on trust. To achieve that, they must listen to you, care about you future and give the right advice, for the appropriate time in your life and financial situation. This will build a long and trusting relationship with one advisor where you grow together, and you are not purely a number on your Advisor’s monthly quota.

Let us take you for a coffee, and tell you more.

Article written by Johan Vermaak. Johan joined Momentum Irene in 2019 as a Financial Advisor.
Momentum Multiply

Momentum Multiply Lockdown Update

Momentum Irene

Level 4 lockdown has brought changes to the way we can get active. The good news is that more outdoor activity is allowed, which helps both your physical and mental wellbeing. Let’s talk about how your Active Dayz™ are now affected.

If you usually earn Active Dayz by logging 10 000 steps or 300 calories on your fitness device:
* Restricted physical activity is now allowed within your neighbourhood in a 5km radius.   
* You can earn your Active Dayz by jogging, walking, cycling or exercising at home.

If you usually earn Active Dayz by going to the gym or completing Parkruns:
* Since gyms and Parkruns are still closed, we will top up your Active Dayz for May so you
get at least as many Active Dayz as the average Active Dayz you earned based on gym
visits and Parkruns in the three-month period from December 2019 to February 2020.
* The adjustment will be up to a maximum of your average Active Dayz in the three-
month period from December 2019 to February 2020 and will be made at the beginning
of June.

 In both cases, we encourage you to get moving and stay active. Find what works best for you to log your physical activity and earn Active Dayz as we navigate through the levels of lockdown. If you’re heading outdoors, always follow the safety guidelines, practise physical distancing and wear a mask.

Make sure your fitness device or app is linked to your Multiply profile by clicking here. If you don’t have a device, you can download the FitVault app to track steps or the Strava app to log jogging, walking or cycling. Both apps are free and all you need is your mobile phone.

Stay safe!

Momentum Multiply

Momentum Lockdown Update

Momentum Irene

3 Days in to lockdown level 4, we want to assure you that your rewards will keep coming, no matter what. We are pleased to let you know that the following benefits will be extended until 30 June.

Extra 3% in cashbacks – Get an extra 3% in cashbacks from Pick n Pay, Dis-Chem and Clicks on top of your normal cashbacks percentage. This will be applied to both in-store and online shopping. Please check directly with your nearest store for updated trading hours.

If you haven’t activated your benefits yet, click on the logo to find out how:

Weekly Wins – Get a Dis-Chem or Total voucher for your Weekly Wins treat. Wimpy vouchers are currently not available. The process to earn Weekly Wins and receive voucher codes remains the same.


The R25 voucher is valid for 14 days, can be used in-store or online. No change given.


The R25 voucher is valid for 14 days, can be used for fuel or the convenience store. No change given.

If you are giving the voucher code to the cashier in store, please take precautions when doing so. Rather read the code out to the cashier instead of giving them your phone to hold.

Yours in wellness
Johan Kleu
Executive Head: Multiply

Momentum Multiply

Multiply your money when you need it most

Momentum Irene

In these uncertain times, Multiply Money is one thing you can be sure of to get you through financially, with low risk, no monthly fees and instant access to your money.

Build up an emergency savings fund – by doing the things you already do.
The cashbacks you earn when you shop for essentials at our retail partners, Pick n Pay, Dis-Chem and Clicks are paid directly into your Multiply Money savings wallet. You can also deposit money from any South African bank account into your payment wallet, then transfer it to your savings wallet. The money in your savings wallet grows from the first cent with a great interest rate*.

If you need essentials, Multiply Money has got you covered.
Get easy, instant access to your money by making mobile payments at selected retailers, using your Multiply Money Card to shop for essentials in-store or online or transferring money to your HealthSaver account to pay for medical expenses or pet care at the vet.

It’s never too late to start saving for a rainy day.
Since you may be spending less money on non-essentials, set a savings goal on the Multiply Money app and try to save towards it during this time. Having something to work towards is a great way to stay upbeat and motivated.

The recent prime rate cuts may have also left you with extra cash that you can use to pay off your debt quicker or save in a low-risk savings vehicle – especially since the market is uncertain now – to build up an emergency fund

We encourage you to make the most out of Multiply Money during this time.


Watch this video to find out how
Other

Global Earth Day (Nr 50!)

Momentum Irene

Earth Day has been celebrated every April 22nd since 1970. The main aim of Earth Day is to raise awareness on the negative impact our actions as mankind have on our environment and earth as a whole, and is a day for political action and civic participation.

Earth Day was a unified response to an environment in crisis — oil spills, smog, rivers so polluted they literally caught fire.

On April 22, 1970, 20 million Americans — 10% of the U.S. population at the time — took to the streets, college campuses and hundreds of cities to protest environmental ignorance and demand a new way forward for our planet.

The first Earth Day is credited with launching the modern environmental movement, and is now recognized as the planet’s largest civic event.

What can you do, especially while in lockdown? (Please visit www.theminimalistvegan.com for a more comprehensive list!)

  1. Put on an extra layer of clothing instead of turning on the heating. Seriously, doubling up on your socks does wonders!
  2. Open up your blinds and use as much natural light as possible before switching on your light bulbs. You all get to enjoy some more sunshine
  3. Turn off your lights when you leave a room.
  4. Hang your wet clothes on a drying line or rack instead of using a powered dryer.
  5. Turn off your devices at night, including your wifi box.
  6. Don’t use plastic bags at checkout. Instead, take your own bags for groceries. https://theartofsimple.net/diy-super-simple-market-bag/
  1. Buy your produce in bulk from your local farmer’s markets.
  2. Avoid buying plastic-wrapped products, opt for a paper bag instead.
  3. Stop buying bottled water! If you can’t drink tap water, rather buy water in bulk, or purchase your water from water-retailers like www.h2o.co.za
  4. Reduce how frequently you wash your clothes.
  5. Repurpose old clothes as rags or donate to a local mechanic if no longer wearable.
  6. Acquire basic sewing skills to patch holes and sew buttons back on. Or if you have a bigger job, take to an alterations shop. 
  7. Opt to receive digital letters and notices.
  8. Read this article on how to use an app to scan and organise all of your paperwork.
  1. Collect scrap paper in a tray.
  2. Turn off your computer before leaving your home office.
  3. Juice the off-cuts of your vegetables and fruits.
  4. Repurpose glass jars.
  5. Use cloths instead of paper towels.
  1. Start composting. Here’s a guide to help you get started.
  2. Use a dishwasher instead of handwashing.
  3. Try making homemade cleaners.
  4. Go makeup-free for one week each month.
  5. Limit the amount of water you use to brush your teeth.
  6. Don’t leave the water running when cleaning your face.
  7. Save gift bags and boxes for future use.
  8. Spend more time outside.
  9. Read your favourite newspaper publications online instead of reading the paper versions.

*Just for fun – take a look at Google’s Doodly for Earth Day 2020! https://g.co/doodle/mcmbu

If all of us do a little bit, improve each thing we do with 1%, imagine the global effect we can have!

Please share YOUR ideas with us!

Have a happy, healthy and safe Earth Day.