đź”’ Emigrating? Expert money tips, traps – Dawn Ridler. LISTEN!

In the first BizNews Personal Finance Podcast of 2020, Jackie Cameron chats to Johannesburg-based personal finance and investment expert Dawn Ridler about emigration and how to move your money offshore. It’s a hot topic, with many South Africans contemplating a life elsewhere as they sit in the dark in an era of Eskom stage 6 loadshedding. Ridler, who heads Kerenga Wealth Management, is a certified financial planner with a string of degrees behind her name, including an MBA. – Jackie Cameron

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The #ImStaying movement hasn’t deterred many South Africans from contemplating emigration. If anything, says Johannesburg-based Certified Financial Planner Dawn Ridler, there are more people than ever investigating the possibility of moving elsewhere.
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Dawn RIdler
Dawn Ridler

Ridler says loadshedding, in particular Eskom going to stage 6, was a “trigger point for a lot of people sitting on the fence” while concerns of a government-run national healthcare system that will replace much private sector provision have not been allayed.

In this interview, Ridler, founder of Kerenga Wealth Management, shares insights on how to plan your money moves as you take that big, scary step of settling in another country.

It’s not easy – or cheap – to formally emigrate, though the informal route is fraught with money traps, including tax legislation aimed to bring South Africans working in Dubai and elsewhere into the South African Revenue Service tax net.

Ridler, who is positive about her own future in South Africa, says people who have approached her to emigrate include individuals in their early 60s who want to retire elsewhere.

She touches on how to access pension fund income as well as how to manage your money in order to maintain a minimum lifestyle. Life assurance and private medical cover are also difficult issues to navigate when you are exchanging a life in sunny SA for a home in foreign climes.

Taxes are an issue, including capital gains tax when you formally emigrate, as well as having your funds blocked by the South African government.

It’s critical to ensure that your chosen new home actually wants you and your residency there is water-tight, says Ridler of a risk that can kibosh the best plans in this must-listen interview for anyone who is planning to emigrate from South Africa.

  • Johannesburg intermediary Dawn Ridler, MBA, BSc and CFP ® is founder of Kerenga.

For more insights from Dawn Ridler:

Emigrating or investing offshore? How to make the most of your money – Dawn Ridler

Dawn Ridler: Nine steps to clean up your personal finances, build wealth #2020

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