Last Will and Testament, Life Insurance, Medical Aid, Momentum Multiply, Savings, Short Term Insurance

Janu-worry 2021

With Janu-worry almost behind us, we can start focusing on the year ahead. Hopefully the schools are about to start, and some form of normalcy are to return! Count yourself lucky if you are still working from home – especially in this weather we are currently experiencing in Gauteng!

October 2021 will see the 4th post-apartheid cencus take place in South Africa, and we have municipal elections coming up – and possibly a vaccine…Tax are being relooked, and according to the Big Mac Index, the South African rand is undervalued by 61.9%, which is the fourth most undervalued currency measured by the index in July.

Using the raw data, a Big Mac costs R33.50 in South Africa and $5.66 in the United States. The implied exchange rate is R5.92 to the dollar.

Japan is still dead-set on hosting the Olympics from 23 July – 8 August 2021, and many others are holding out hope for an overseas holiday this year!

These are all out of our immediate control, but what we can control is our finances. Shop around for better short term insurance quotes and benefits, make sure your last will and testament is up to date and your savings pocket is growing, get rewarded for being active and looking after ourselves, and in turn, spending those rewards on what matter most!

Momentum Multiply – rewarding you for looking after yourself.

Momentum Irene would love to be of service to you on your financial wellness journey. Feel free to connect with us on any of our platforms, and we will come to you – masked and all! If you would prefer a Zoom or Teams introduction, that can also be arranged.

We wish you a magnificent, healthy, prosperous 2021, and look forward to meet up for a coffee (even if it is virtual).

Financial Wellness consultations can be in person or online.
Last Will and Testament

Plan for when it is too late.

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.
Last Will and Testament


I saw a post on one of my Facebook Groups about a week ago – someone needed help with the setting up of a last will and testament. There were loads of offers to help, be it free of charge (that came with a lot of comments as to why it will be free…) or not. One lady though, let’s call her Anna, commented with “buy a testament from CNA or PNA, complete it yourself, and appoint a family member or friend as executor, and, added in brackets – if it is not a complicated estate. Anna said, that way, you will save a buck or two.

What will be “not complicated”?

If you have no debt, no assets and no dependents you will fall in that category, and you can save yourself the trouble of going to CNA, write your last will and testament on a piece of paper, date and sign it, and give it to someone for safekeeping.

However, it is not all that easy for everyone.

One of my dear friends passed away about a year ago. He was taken from us very suddenly – it all happened within a week. During this difficult time, I could assist his wife with everything that was needed, as I assisted in drafting their will. With this being so close to home, it just made me realize how important this piece of paper really is.

Can YOU answer the following questions?

Which documents do you need to have handy?
Who do you contact for his/her Funeral Policy and Life Insurance pay-outs?
What do you do with the money you receive?
Is there a tax implication when monies pay out?
The bond for your house is on both spouse’s name – how do you handle that?
How do you sell assets that is on your deceased partner’s name?
Did you know that bequeathing a firearm can be a problem?
Which fees are involved in setting up a trust, and does your estate have enough to cover that?

Be sure that your Last Will and Testament is indeed that. Your last will.

Please contact us to set up an appointment to plan your Financial Wellness, for when you are no longer here to do so.

Last Will and Testament, Life Insurance


This is a sentence my wife loves. When I say it – not when she says it. It is all about you Honey. And you know what they say…happy wife, happy life! (There is a reason why nothing rhymes with happy husband…)

As I said previously, we had a long distance relationship, and moved in together 4 months before our wedding. Before we knew each other, and then while living apart, she had her own household insurance, life insurance, retirement annuities etc, and I had mine. But, things change. We became a family. And we needed different things to when we were single, care free individuals. We could no longer think only about ourselves.

Naturally, we set up our prenup, and from there, everything changed. EVERYTHING. We share our short-term insurance, medical aid, last will & testament, rent, electricity, food budget and the list goes on.

Change doesn’t stop there, as life happens. You evolve. You learn. You grow. Your family grows. And each change, mean a change in your financial needs.

Be sure to speak to your financial wellness advisor regularly, in order to keep your affairs up to date. If you don’t have one, let me know! I will take you for a cup of coffee, and we can discuss YOU.

You never know when it will be the last time you can say “It is all about you, Honey”.

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Last Will and Testament


I didn’t marry my Highschool Sweetheart. It took me 33 years to find mine.

Yesterday, we would have been dating for 4 years, if she didn’t tell me she has planned our Honeymoon already and paid the deposits, so we had to get married. We lived in different provinces, only saw each other twice a month, and had to learn how to talk to each other. Strange concept, to talk, but I believe that will someday make all the difference! Today, we have been married for 2 years, 10 months and 29 days. Exactly. To the minute.

Don’t get me wrong, I love my wife. Sometimes I think I love her too much (if that is even possible). But it is tough. It is tough sharing your life, that you lived as you pleased for 33 years, with someone else. And I am sure it is the same for her. (She found me a bit sooner, but still…)

I plan to stay married to her. I really do not want to go through this process again. Being alone, finding someone who is not right, finding the next person, adjusting, falling in love, deciding, settling down AGAIN. But, one has to be realistic about these things.

Especially if you look at the latest findings on marriages and divorces in South Africa for 2016 released by Stats SA recently ()

Your Estate Planning has to be updated after any major life event, to ensure your stuff is going where you want it to go. Especially if you have kids!

Remember to update your Last Will and Testament after any of the below events:

  • Marriage
  • Serious Relationship with a Domestic Partner
  • Divorce
  • A new Baby
  • Stepchildren
  • Death of a Spouse or Child
  • A change of heart about Heirs
  • Changing Guardians of your children

For more information, feel free to contact me on or 072 4022 499

Financial Planning Jargon, Investments, Last Will and Testament, Life Insurance, Retirement

Did you plan for the road ahead?

With 2018 around the corner, it is a good idea to take stock of where your finances are currently, and where you want to be in a years’ time. It is a great time to consider your bases, as well as if there are any shortfalls. ( )

Here are a few points to consider:

  • Will:  Do you have one? If so, does your family and relatives know where you keep it? Did you update it after your marriage/divorce/having kids? Is the will enforceable?
  • Emergencies: Do you have a safety net in case of an emergency? If not, do you want to start building a safety net? Do you know what your options are? Please visit the link to one of my previous articles: ( )
  • Holiday plans: Will December 2018 be the same holiday as 2017? Will you make debt or save for it?
  • Children: Do you have a savings plan for them (or should I say to help you later…)?
  • Short term insurance: Do you have car and household insurance? When last did you update your values? Did you add your new camera, bicycle, Drone, Tag Heuer or any other item of value?
  • Long term Insurance: Do you have Income protection for when your unable to perform you job for longer than your chosen waiting period? If so, when last did you update your values? Do you have dependents, and did you make provision for them to live at the same standard as they do with you around, should you not be able to contribute due to a sudden demise? Will your family be able to give you a proper burial service or memorial?
  • Retirement: Do you have a plan? What does it consist of? What are your options?

We just tend to float by in life, year after year. Until we realize what we should have done….

Will 2018 be different? Or better?

Don’t regret the choices you make (or don’t make)!

Contact me should you need any assistance or advice

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(Originally published on 20 December 2017)

Financial Planning Jargon, Investments, Last Will and Testament, Life Insurance, Retirement, Short Term Insurance

Playing Catch Up?

Since you were a little boy/girl, your dream was to drive a fancy car that gets noticed. Maybe it was a fire truck at first, but then became a Ferrari. In red. Of course. How about sipping cocktails on an island for 3 weeks, with the girls, instead of visiting the parents’ holiday house in Stillbay each December?

As you start your first job, you work towards that goal. With the first paycheck you get, you smell the leather seats, and you taste the sweetness of the strawberry daiquiri. After 10 odd years of slaving away behind a desk, your credit limit is of such that you can get the finance for the car, and the credit facility for the dream holiday you’ve been planning. And off you go. You made it!

You have accomplished BIG things in your life, and as human nature is, we need to share that with our friends. Thanks Facebook! We celebrate life. We go out, we toast to our goals being reached. We eat sushi, we braai, we pour wine and whiskey, we get a dog. We also get someone to help us maintain our gardens, and do the dishes. We get DSTV. We need Internet. So we get that. We need new leather couches. A king size bed. Egyptian Cotton bedding. Fluffy pillows. All on credit. Because we deserve it. And we are right. We do.

It has now been a year since you “arrived” and your Financial Planner sets up an appointment with you to review your policies. In this meeting you get told that if you are involved in an accident with your new car, Ferrari or not, the excess payable by you is R3500. Immediately you think to yourself: what if this happens after the 20th of the month? How am I going to pay this? By that time you have paid your car, rent/bond, insurance, electricity, DSTV, @ Home, bought some necessities for the fridge for the month, and have some spending money left to survive until pay day.

You are choking on the credit card repayment for the holiday that is long since forgotten.

No one ever told you this should be part of your dream! All of a sudden growing up is the worst thing you have ever done.

On top of all of this, you/your wife falls pregnant. According to Women24, it costs an average middle class family in South Africa roughly R90 000 per year to raise ONE child.

How do we deal with these scenarios? How do we prevent playing catch up?

Baby steps. That is the answer. Don’t ever think that you are alone in the situation. Statistics show that approximately more than 90% of South Africans fall in this category.

Start focusing on short term. If you only look at Long Term savings eg Retirement, it still doesn’t solve the problems of today.

Your goal should be to work towards having 3 months’ worth of income as a short term, easy accessible, risk free nest egg.

My advice will be as follows:

  1. Register on – you do not need to be a client of Momentum to use this facility.
  2. Complete the Financial Wellness Questionnaire on the website to assess where you are in your current financial planning.
  3. Get control over your finances. I am using a fantastic tool that has helped me greatly – Multiply Money. This is available via your App store. Here you can record your income and expenses as well as keep track of it.
  4. Work a set savings amount into this new budget. You can start with R100, R300 or R1000. It will depend on your budget. But, start with something.

If you need ANY advice, do not hesitate to contact me on

A big part of financial freedom is having your heart and mind free from worry about the what-if’s of life ~ Suze Orman

(Originally published on 7 June 2015)

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