Category: SFP

Switching occurs when an investor decides to transfer money from one investment to another. This process can involve moving money between mutual funds of different strategies, changing to different share classes, or reallocating a portfolio. It can sometimes make sense to take up this option when needs or circumstances change, but we should always take a measured approach when considering switching. It can be tempting to switch between funds in an attempt to improve your returns. […]

The triangle is the strongest shape there is. Any weight placed on one is evenly distributed. Triangles represent geometric sturdiness; no matter how much weight you put on any side, it will not break. It is a shape that has survived the test of time – just look at the pyramids!  Financial advisers tend to agree on the golden triangle of long-term wealth. It’s not about how much you earn that makes the critical difference; it’s […]

There is a great deal of evidence showing that, on average, wealthier people are happier. However, this is qualitative data that we are talking about, and there are lots of caveats and misconceptions that can be construed. Making heaps of cash will not automatically increase our happiness. How we spend, save and think about money will ultimately determine how happy we are at the end of the day. For example, a study done in the UK […]

Studies in the field of neuropsychology support the notion that people who make the transition from thinking about money in terms of income to thinking about money in terms of assets, are the ones who successfully adapt to wealth, and maintain it. Income is a somewhat abstract term suggesting movement and flow (hence… easy in, easy out). In contrast, asset is a more material word that sounds rooted and concrete. Due to the solid feeling, the […]

If we want to connect to our wealth in a healthy way, we need to connect with others, and with ourselves. We make it a priority to know the wifi code, but how often do we prioritise deep social interconnection? We believe our devices will keep us connected, but if we want healthy and sustainable relationships, we need to be willing to ask ourselves some challenging questions. Without this personal exploration, we will not be able […]

Regaining control of our finances requires a holistic view of our financial responsibilities – and our financial potential! When our world has spun off its axis as we’ve lost control, we need to first regain financial control by returning to our budget. When that is comfortable, and we’re rebuilding that habit, the next habit is to regain control over our saving. The third area of control is around protection; risk cover. From minor health ailments to […]

Gaining control over your financial journey is a process that takes time to develop. We need to find the methods and tools that best suit our financial approach and lifestyle. However, there is one habit that every individual, no matter their circumstance, needs to practice – Saving.  Saving is the bedrock of financial stability. As our confidence grows in following a budget, we can create space to build our savings. (Pro tip: The best time to […]

Last year was somewhat of a financial flurry, leaving many individuals feeling vulnerable. One of our key missions at SFP is to provide our clients with full reign over their financial journey. With that in mind, we are dedicating this month’s blogs to exploring three areas that can be targeted to help regain financial control. This week we will be examining the notorious budget. It has been called everything from dull to boring, but the benefits […]

What exactly does world-class financial planning look like? We believe that one feature in this approach is flexibility. Flexibility is the ability to bend without breaking (or going broke!) Every financial guru out there will have their interpretation of what it means to be financially flexible. Essentially, it boils down to accessing funds to satisfy a crisis or opportunity. It means being smart about how we use our monthly income and finding ways to make our […]

Have you ever thought to yourself, “What happens when I can no longer contribute to my family in the way that I currently do?” Although it may seem difficult or overwhelming to consider succession planning, it’s never too early to do so. A poorly managed transition can trigger any number of issues, from family tensions to financial losses. Families with more robust governance structures are better equipped to tackle unexpected changes and manage difficult decisions – […]