Zero fees for new 10X Investments clients
Throughout November, the company is rewarding investors who take out retirement annuities, living annuities and preservation funds
10X Investments is once again rewarding new investors with six months of zero fees if they sign up for a living annuity, retirement annuity or preservation fund during November.
The company’s fee-free promotion applies to new retirement annuities, living annuities and preservation funds taken during November. This limited-time offer is designed to alleviate financial burdens and make retirement planning more accessible.
This comes at a time when the country is grappling with unprecedented financial pressures, making it more important than ever to consider the future and invest wisely.
SA is sitting on a retirement time bomb, with the National Treasury revealing that only 6% of the country’s population is on track to retire comfortably.
Economic pressure has impeded South Africans’ ability to save. The Covid-19 pandemic directly affected untold livelihoods but, in its aftermath, there’s been little financial relief and, for many, life has become even harder.
SA has endured rising inflation, high interest rates and record unemployment. With the high cost of living, many do not view retirement investments as a priority.
This highlights the importance for innovative and inclusive insurance solutions to ensure comprehensive protection for all, according to Andre Tuck, team leader for retail investments at 10X Investments.
Few retirees realise that the fees they pay on their living annuity could well be their single biggest expense in retirementAndre Tuck, 10X Investments team leader: retail investments
While cost is a primary consideration in almost every purchase decision, especially in uncertain markets, when it comes to making critical financial decisions such as investing into a long-term retirement product, fees are often overlooked.
“Few retirees realise the fees they pay on their living annuity could well be their single biggest expense in retirement,” says Tuck.
He says a 2% fee on a R5m annuity, for example, amounts to more than R8,000 a month.
“Factors including affordability, accessibility and financial literacy influence insurance adoption. In an environment of heightened uncertainty, no-one can realistically predict what the market will return over the next year,” says Tuck.
“The only thing that is guaranteed with any certainty is the fees you pay. Many retirement investors therefore underestimate the fees on their living annuity or, rather, the impact these fees will have on the longevity of their savings.”
With its proven track record of more than 15 years delivering superior returns, 10X Investments has consistently outperformed the industry average, helping thousands of South Africans achieve their financial goals.
By providing transparent and cost-effective investment solutions, 10X Investments is committed to making retirement planning a seamless and rewarding experience.
To better understand the impact of these figures on an investor’s retirement, new investors can view the 10X Investments’ retirement income calculator.
It will calculate what a sustainable income would be, taking investors’ savings balance, age, fees and inflation into account. Click here for more information.
About 10X Investments
10X is an independent asset manager offering a suite of financial services products, underpinned by a core philosophy of long-term strategic asset allocation.
It aims to deliver value-driven, outcomes-based returns that meet clients’ investment goals.
10X Investments (Pty) Ltd is a licensed Financial Services Provider #28250 and S13B Pension Funds Administrator #24/444. The content herein is provided as general information. It is not intended as nor does it constitute financial, tax, legal, investment, or other advice. 10X LA is underwritten by Guardrisk Life Limited.
This article was sponsored by 10X Investments.