Last month we talked about Money Is A Means To An End. This month we focus on Step 8 - Set Up Short-term Goals. According to the website www.mindtools.com, the process of setting goals helps you choose where you want to go in life. By knowing precisely what you want to achieve, you know where you have to concentrate your efforts. You'll also quickly spot the distractions that can, so easily, lead you astray. I define short-term goals as something you would like to achieve in the next two years. Depending on your personality and preferences, you may define the short-term as things that happen in the next 12 months. Have your notebook and pen ready at your desk. Think about the things you know are going to happen, or your plan for in the next two years. Jot them down in your notebook. Speak to your spouse, partner, children, families and friends that you would like to plan things together with, jot down the additional things that are going to happen in the next two years. Examples or ideas are: Attend a wedding Getting married Finish my study Finish reading this book Learn to cook a cuisine Learn something new (be specific) Start a family Buy a house Renovate my house Buy a car Pay for my children's education Pay off my credit card debt A weekend away Year-end holiday Overseas holiday (if COVID restrictions allow!) Start a side hustle 30th birthday party Run the Two Oceans Marathon Make a donation to a charity You can now develop the list of short-term goals into a spreadsheet in your notebook, or use a spreadsheet such as Excel or Google Sheets, with the following columns: Column 1: Description of the goal Column 2: With whom (you will be doing this with) Column 3: Date (an approximate date is fine) Column 4: Amount required (this is the amount of money required for that goal) Column 5: Bank/investment account for this purpose Column 6: Notes/Comment (this is where you expand, to explain who will contribute, whether you will contribute for someone else, someone else will contribute for you, how you are going to build up the fund, monthly or an ad-hoc lump sum) Column 7: Status - Not started, in progress, completed Write your goals on colour stickers or magnets, stick them on your wall so they are visible, acting as reminders to you. Work out your monthly plan to attain these goals. Revisit your short-term goals spreadsheet monthly, say at the end of the month, to check whether you are on track, or anything you still need to do.
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South African Market Commentary Global equity markets performed strongly in August, with many major global equity indices reaching new highs during the month, despite continued concerns around the spread of the highly contagious Covid-19 Delta variant across the globe. The US Federal Reserve (Fed) continued to allay fears of interest rate increases, with Fed Chair Jerome Powell reiterating his cautious stance at the Jackson Hole Economic Symposium held towards the end of August. Powell did concede, however, that the tapering of bond purchases is likely to start at the end of 2021. Powell’s dovish comments, as well as strong earnings updates from corporates, drove US equities to new highs, with the S&P 500 recording a seventh consecutive month of positive returns, its longest winning stretch since 2018. South African equities ended the month lower, as weak performance from Resource counters, as well as large index constituents Naspers and Prosus, weighed on the performance of the local equity index. Local bonds ended the month higher, as long dated nominal bonds delivered strong performance during the month and the nominal curve continued to flatten during August. Local listed property rebounded sharply in August, as sentiment towards the sector improved on the back of the move to an adjusted level 3 lockdown on 26 July and many REITs reporting better than expected recoveries from the riot damage caused by the civil unrest in July. The rand was stronger against most of the major developed market currencies, despite trading in quite a wide range during the month, in line with changes in global sentiment towards emerging market currencies. In terms of the Covid-19 response, the country remained on an adjusted level 3 lockdown, despite a decrease in the number of daily recorded infections during the month. Registration and vaccination for 18-34-year-olds opened on 20 August, with 12.6 million vaccines having been administered by the end of August. SA headline CPI moved lower to 4.6% year-on-year for July (from 4.9% in June), as fuel inflation continued to moderate, and SA inflation remained relatively muted due to weak pricing power in the local economy. SA’s trade balance came in at a surplus for August (R37 billion), following a revised surplus for July of R54 billion, as exports declined 11% month-on-month to R145 billion, higher than the 1% month-on-month decline in imports. StatSA’s periodic rebasing and reweighting of the national accounts data showed that the nominal size of the economy has increased by 11% from previous estimates, resulting in a lower-than-expected fiscal deficit and debt to GDP (71% at the end of 2020 compared with the previous estimate of 79%). Click here to read more Global Market Summary
Developed market (DM) equities had another good month, led by the major US Indices. The S&P500 and the Nasdaq reached record highs over the month with the former managing to close in the green for a seventh consecutive month. Economic data was supportive for the Financials sector at the beginning of the month as the 10-year US Treasuries rose on the back of a better than expected payrolls print. Despite a weaker than expected retail sales print and a resurgence in Covid-19 cases as a result of the Delta variant, markets still managed to power ahead on the back of bullish remarks from Fed chair Jerome Powell at the Jackson Hole symposium. Although Powell raised the possibility of tapering this year, he also highlighted that this should not be viewed as the start of the hiking cycle. He also reinforced the fact that the Fed would continue to tolerate higher inflation in pursuit of further labour market gains which served as support for the markets over the month. Click here to read more The COVID19 Pandemic has undoubtedly affected many people and businesses – particularly many restaurants who had to limit their capacity and even close temporarily for a certain period. Besides the reduced business volume on an ongoing basis, the complete national lockdown resulted in a tremendous loss of income. Many businesses started asking if short-term insurance cover such loss of income. There were two fundamental issues – first, as per the policy wording, an infectious disease pandemic is not an insured peril, because short-term insurance covers physical risks such as fire, flood, accidental, damage, theft, etc Secondly, the lockdown was a result of direct government intervention instead of the risk. For these reasons, the pandemic was not an insured peril. Insurer Hospitality & Leisure (H&L) – a division of the largest South Africa short-term insurer Santam – saw the devastating impact on their clients in the hospitality sector and decided to offer a Relief Payment to qualifying clients, who had both Business Interruption cover (loss of income) and the Infectious Disease extension. As a result, these clients received payment during the 2020 national lockdown, which boosted their cash flow during the difficult period. Furthermore, H&L emphasized that if the final claim amount ends up being less than the relief payment, the client does not have to refund the additional portion. Some of our own clients at Daberistic essentially benefited from insurance on this very exceptional basis. Testimonial One of our clients XYZ Company (Not real name), were paid R500,000 in 2020 as a relief payment. They then submitted their claim, and the final claim amount was actually R300,000 which means the client got R200, 000 more than what they should have received, and they were not required to pay it back. This once again demonstrates the value of insurance and how sizable and reputable insurers can play a critical role at a time when you need it most. Insurance has an invisible yet crucial role to play in our society, to ensure the stability of our financial system and, more importantly, people’s livelihood. If you would like us to do a quote or do a comparative quote on your current insurance email: service@daberistic.com tel: 011 658 1333 Written by: Edmond Lee (Short-term Broker) Spring season is finally here and that means the year is coming to an end. We can see a trend that more and more countries are opening up for tourists. In the time of such a pandemic it also reminds us how important it is to have medical cover abroad. Most medical schemes include international travel medical benefits, but each company's benefits are different. With some medical schemes you need to ensure that you need to activate your International Travel Benefit before you travel. With Discovery Health you do not need are to phone ahead to “activate” this benefit, all you need is your departure and re-entry stamps in your passport as proof! Depending on your chosen medical aid option, your cover limit will either be R5 Million or $1 Million and that will alleviate the burden off your shoulders knowing that you will be able to receive the best medical attention whilst on your travel adventures. Should you wish to find out more about International Travel Benefit topics such as:
If you will be travelling and may require a vaccine certificate, you may contact EVDS on 0800 029 999 to request a vaccine certificate for travel. This is a special request that they do and they will provide the member with an email address to send their information. They will need the below information:
If you have any other queries, please contact Namhla, Tammy or Jo in our Health department, email service@daberistic.com, Tel 011-6581333, Option 2 for Medical Aid. Discovery has further enhanced their COVID-19 hub, adding videos, infographics & articles at a central points. Discovery COVID-19 navigator offers to guide & support everyone through their vaccination journey; Everything you need to know COVID-19 podcasts Understanding vaccines Join the conversations with Dr Noluthando Nematswerani as they unpack the details around COVID-19 vaccines. They dive into how vaccines work, we look at how COVID-19 vaccines protect us by strengthening the immune system. The videos with Dr Noluthando Nematswerani, are available on Understanding vaccines & our YouTube channel: Why is getting my COVID-19 vaccine important Why should I be vaccinated if I've already had COVID-19 Why have some countries made COVID-19 vaccines compulsory? Can we achieve population immunity for COVID-19 What's South Africa's COVID-19 vaccine authorization process? How do vaccines work? Why were COVID-19 vaccines developed so fast? Did COVID-19 vaccines go through all required clinical trials? How do we know the COVID-19 vaccine is safe in the long term? Which COVID-19 vaccines are available in South Africa? There is also a longer video, the panel discuss COVID-19 trends and vaccination progress To register for vaccination please go to Discovery COVID-19 Vaccination Portal & register on EVDS!!! As a Discovery member you will be able to access your digital Vaccine certificate on your Discovery app. Source: Discovery In partnership with Morningstar - A boom in young and overconfident investors has led to the rise of investment influencers on social-media platforms, but following their advice blindly is not a solid strategy. Morningstar behavioral economist Sarah Newcomb says speculation is fun and is what attracts a lot of people to investing. “And if you speculate with only money you can afford to lose, events like these can be exciting and sometimes profitable. In South Africa, having a car is a necessity which at the same time brings the risk of a motor accident. In this article we share some info on what to do after an accident, so that you are better prepared.
Here’s our guide to what to do after an accident: 1.Remain calm and put safety first. Switch on your hazards to warn other drivers. Many people often get out of the car immediately check for damages (or in some cases, argue with the other party), without first checking surroundings. This is very dangerous, particularly on a highway or major roads. 2.If you can, move any cars that may disrupt traffic – before moving take pictures of position car was and any other car involved in the accident. If you can also make marks on the road with chalk or spray paint. If car can’t be moved, call your insurer to get towing service. 3.If you feel unwell after the incident, limit your movement, and wait for paramedics to arrive on the scene. If there are pedestrians that have been injured, or if there is property damaged, it is road law in South Africa you have to remain at the scene of an accident until the police have arrived. 4.Record the following details:
7.Inform your insurance broker after the incident and provide true and accurate information, so that the claim can be processed without delay. If you would like us to do a comparative quote on your current insurance email: service@daberistic.com tel: 011 658 1333. |
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