The tax year end tantrum

WHY is everyone jumping up and down about the end of the tax year? You would swear there won't be another one.Top up your retirement savings.

- PIETER ALBERTYN

Top up your tax-free. Scrape your purse for any loose rands. As if anyone still carries cash. And all this must happen before the last day of February every year.

The reason why actuaries like myself are so adamant about tax year ends, is because we know there are two things that affect how our savings grow and our investments prosper. The one is to keep costs as low as possible, and the other is to propel growth as much as you can.

Let’s think of it like a nice tub of water to relax in after a long day. You can compare the hot water with growth and the cold with costs. The costs cool the growth a little, and if you can keep costs as low as possible, you need less electricity to keep things comfortable.