For this month’s newsletter we have developed a case study around a medical aid incident experienced by one of our clients, in order to illustrate the importance of having proper medical aid cover in place. Mr X is the 14-year-old son of one of WMD’s clients. During a high school rugby game last year, he…
Prioritise Health and Wellness in 2023
Welcome to 2023: the year to manage wellbeing across all facets of your life. At WMD, we have built valuable relationships in order to provide our clients with the best possible assistance in terms of medical aid, health rewards programmes and nutritional and personal needs analysis services. When considering your wellbeing, it forms part of…
Lessons learned in 2022
With 2022 drawing to an end, it is time to reflect on what worked and what didn’t work in terms of personal finance, to be better prepared for the new year. This month, we unpack the key lessons learned in the various categories of short-term insurance, investments and medical aid. Short-term insurance: claims for electrical…
Quiz: Are you a saver or investor?
When it comes to investments, most people are either an investor, saver, or a combination of both. This month we unpack various investment vehicles relevant to both savers and investors, and how a balanced approach can impact your savings strategy. Answer these questions about your savings and investment habits: Does the idea of investing sound…
How to retire comfortably
After a lifetime of working hard and making personal sacrifices for the sake of your job, you deserve to retire comfortably and to not stress about whether your retirement savings are sufficient. We discuss how you can structure your retirement savings in order to achieve peace of mind. An annuity is a retirement vehicle that…
Gap cover explained
Many individuals are under the impression that their medical scheme will cover all medical expenses since they stipulate 100% cover. This, however, is not the case. This month we explain how medical aids work and why gap cover provides you with more comprehensive coverage. How do medical aid cover limits work? All medical aids…
Spend more on retirement now
If you were forced to retire tomorrow, would you be able to retire comfortably? This month, we discuss how spending a little bit more today can help you save more in future for retirement. Let’s unpack how far your savings will bring you during retirement by using the following example. Bear in mind that the…
Introducing your children to finance
Preparing your children to create a successful financial future is one of the most valuable principles you could teach them from a young age. In the spirit of Youth Month, we discuss some key personal finance principles to help educate your children. There are many examples of children from wealthy families that are not financially…
The cost of financial emigration
This month we explore the true cost of financial emigration, including other factors to bear in mind before considering this complex and expensive process. In the past, South Africans who worked abroad for more than 183 days were exempt from paying income tax on foreign earnings. However, since 01 March 2021 expat tax came into…
Have you changed any of these habits? How you can reduce your life cover premium
Life cover premiums are determined by insurers by taking into account your qualifications, smoking habits, age and other factors. There are however, a number of factors within your control to reduce your premium. We unpack the actions you can take to reduce your life cover premiums. If any of the following factors change in your…