Savings and Investing

Rayonna Pack

savings and investing diffrences

the differences between savings and investing is that for savings is income not spent or deferred. methods of saving include putting money aside in a bank or pension. investing has to do with
  1. You must be a natural person of at least 18 years of age. This means that you cannot make the investment through a trust, close corporation or company;Y
  2. You need to apply at your local SARS Branch office where you are registered for Income Tax purposes for a tax clearance certificate.
  3. SARS will send the tax clearance certificate directly to authorized dealer handling the actual transfer/investment of the funds

Reasons to develop savings

why you should save

we save basically because we cant predict the future. if we could we know precisely how much money we would need for the things that we want and need in the future. but because we cant do this, the need to save money for the future is vital.

reasons we should save

  • emergency cushion
  • retirement
  • average life expectancy
  • volatility of social security
  • education