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.


You are in lockdown; It was supposed to be 3 weeks…but it is day 100 whatever. Sitting with your head in your hands, asking yourself how are you going to get through yet another month? I mean…how has this happened in our time with such modern technology and medicine? Yet… It has!

During this time of isolation and social distancing, many people have realised they do not have enough (or anything!) in their “emergency fund”.

People who go through lockdown without worrying too much about how they are going to pay rent, car instalments, insurance and day-to-day living expenses are those with an emergency savings fund that is big enough to cover 3 to 6 months of expenses.

I can hear you say: “I want that! How do I start?”

Here are my Top 5 rules to start your Emergency Fund:


Do not live a life you cannot afford, simply because you want to try and keep up with the Joneses.


Live a frugal life: prioritise your expenses. Before you buy that new car (that will lose value the second you take ownership), ask yourself the question: Is this more important than saving for my child’s education? Is this more important than investing in a property or in my retirement?

Review your insurance. Shop around for better premiums, better excess values and inclusive packages.  


Do not reduce the wrong expenses in order to build your “sleep-easy fund”. If you choose to pay less towards your retirement, this might have detrimental results down the line. Be sure to speak to a Financial Advisor, and have a proper Financial Needs Analysis done to ensure you are contributing enough to your Retirement Fund. Keep in mind, there are various tax advantages when contributing to retirement policies.


Your emergency savings fund is not an investment fund. Put your savings into an easily accessible account, available within 7 days. . You need to ensure that inflation does not erode your savings. Speak to your Financial Advisor regarding the various available options, other than a bank account.


Make your contribution towards your emergency savings a fixed monthly expense. You don’t need to build a 3-to-6 month emergency savings fund in a month. Simply start off with an affordable amount, and slowly build up enough to carry you through one month and try and do this in the shortest amount as possible.

Once you have achieved this, you should be used to saving that amount each month, and you can continue building this fund. (at least you have an emergency savings fund that can cover one month’s of expense, yay!). Certain financial institutions allow for a debit order to make it easier.

Once you implement all these guidelines, you should be able to have enough funds for the next global pandemic while being in quarantine, or for any unforeseen circumstance life might throw your way!

Written by Heinrich Reheder – Heinrich joined Momentum Irene in February 2020, and is as passionate about looking after your family as he is about his own.
Short Term Insurance

Its official | Alexander Forbes Insurance is now Momentum Insurance

Momentum-Alexander Forbes

Its official – we are proud to announce that Alexander Forbes Insurance (AFI) will be operating as Momentum Insurance (MI) from the 15th of July 2020.

In the lead up to this significant milestone, we’ve made some exciting changes to welcome our new family home and a few enhancements in the Momentum Car and Home Insurance space to provide you with continuous convenience at the touch of a button.

Interactive and personalised, the Momentum Chatbot will guide you through an AI-powered conversation to help resolve issues you may have with managing any unpaid premiums for the month. 

The Chatbot will provide options like: 
  •  update your banking details
  •  request an agent to call you to view more affordable cover options
  •  assist with resubmission of the premium collection 

Click here for a short video on the functionality.

While this is the next step toward the end state of a single brand operating under one license, a process that will gradually happen over the next 12-24 months, the two entities will currently remain in operation as two separate businesses. 

By integrating our teams and systems, we’ll be combining our unique strengths to provide an improved client experience, faster operations and easier processes. This will ultimately provide you with a unique journey to success that’s much easier, more convenient and safer to navigate.

We’re here for your journey to success.



We believe that no year should be written off especially one with the power to redefine your future and turn delayed dreams into windows of opportunity.

Join the nationwide movement #2020TwoPoint0 and bring a new energy, a new attitude and a new momentum that will make you look back on this chapter on your journey to success with zero regret. We have been amazed by the things people have been getting up to during lockdown – whether it is improving their cooking or baking skills, or learning to play a new musical instrument, people have been busy. Even during alert level 3 of lockdown, many people may still have some flexibility in their time. It may be useful to also use this time to take care of personal admin that you usually put on the backburner for the end of the year.

Whether it’s finally putting time into investigating that leak on your ceiling, clearing your gutters and drains or any other wear and tear on your property, use the time wisely and take preventative measures to protect your valuables.

Now is also the perfect time to re-evaluate your other insurance policies and ask yourself if you are getting the most out of your current vehicle insurance plan. Our financial advisers are operating successfully with access to online platforms and can also provide you with a quote, within minutes, for vehicle cover to make sure you are getting the best cover.

What to expect on level 3 lockdown

We will remain fully operational across all business areas under level 3 of the lockdown.

To protect the health and safety of our clients and employees we will maintain a “no visitors” policy at Momentum’s offices, unless prior arrangements were made.

Financial Relief

We recently shared our plans on how to assist clients who are financially affected by the pandemic with you. These are a reminder of the financial relief options available

An early claims cashback release on the Safety Bonus and Rewarder benefit, for clients who are eligible. Limited travel and working from home adds to your Safe Dayz™ which means more rewards toward your Safety Bonus.

Premium and cover ‘pause’ option – upon reinstatement of the premium following the pause, Momentum Car and Home Insurance will not deem the period as a break in cover, which otherwise might impact your risk profile and future premiums.

If you choose to ‘downscale’ your cover within the lockdown period and revert to the original cover within 10-working days after the lifting of the lockdown level 1, Momentum Car and Home Insurance will keep premiums the same as it was before the change, provided there is no material change in the risk.

Contact us to assist you in choosing the right option for you. You can send an email to and we will call you back.

Momentum Multiply

Momentum Multiply lockdown level 3 update

Did you know, since lockdown began on 27 March, our members have earned over 500 000 Active Dayz™? We’re so proud of all of you. This shows a commitment to staying active and being healthy – which is what being a Multiply member is all about.

Keep the momentum!

Your physical and mental health is important, especially during times of isolation and social anxiety. From 1 June, we will allocate your earned Active Dayz for 10 000 steps, 300 calories or online gym sessions. We will not be allocating your average Active Dayz based on past gym visits or Parkruns for June.

Make sure your fitness device or app is linked to your Multiply profile by clicking here. Don’t have a fitness device? Get one at a great discount on the Multiply online shop!

You can also 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.

If you miss the gym…

If you’re a member of Virgin ActivePlanet Fitness or Curves, you can also register and participate in their online workouts. You will automatically get an active day for completing any session that’s at least 30 minutes. Contact your gym for more information on these online workouts. If you have a fitness device, don’t forget to wear it during the session so your progress can be tracked.

That’s it for now. We’ll keep you informed if anything changes. And remember, if you’re heading outdoors to exercise, always practise physical distancing, wear a mask and stay safe.

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.