Training
Provided by Advanced Concepts
Course content
Are you interested in making more informed decisions about your personal finances, as well as developing the knowledge and skills required to study at a higher level? If so, then You and your money is an excellent course. It provides a detailed understanding of many of the important personal finance issues that affect people s lives and delivers the skills and knowledge you need to improve your personal financial capability.
This course covers four broad themes. The first theme is the importance of the changing economic and social environment to your personal finances. This is taught by placing financial topics such as borrowing and debt; savings and investments; the housing market; and pensions within the context of social and economic change. So, for example, you ll examine not just the different types of mortgages available, but also explore the underlying social and economic changes currently affecting home ownership, interest rates, and borrowing.
The second theme is the relationship between individuals and households in financial matters, a relationship that is crucial to situating financial decisions in their real context. This relationship can include various issues, from thinking about how a couple manages their money, to the financial implications of having children, or of caring for an elderly parent.
The third course theme considers the importance of change over the course of a lifetime. This means thinking about not only how your own income and spending plans might change, but also how such change interacts with broader social and economic change. For example, as the government and employers reduce pension provision, it s increasingly likely individuals will have to think ahead in order to plan and provide for their old age: this course discusses some of the options.
The final theme is financial planning. This is a crucial element of personal finance and you will explore the financial planning process, working through the three stages of assessing your financial position: deciding upon a financial plan; acting upon this plan; and reviewing the plan. You will also learn about (and practice using) all the main tools used in personal financial planning, from personal balance sheets, to budgeting and cash-flow statements. These tools can be kept and used for your own personal use after the course.
Taken together, the knowledge and understanding you gain from studying You and your money will deliver two types of skills: skills that are highly practical and relevant in your everyday life, and academically-relevant skills that are useful for further study, particularly in social sciences, economics and business courses.
INDUCTION:
90-minute module (
Part of the 1 day basic course)
This course is intended for staff of all ages, people who don t have grounding in financial matters. This really is an introduction to the world of personal finances. Young people haven t had to think about tax, mortgages and pensions and generally tend not to understand these important issues.
Course content includes:
The
Debt Spiral - remedial action should the employee find him/herself in the debt spiral
Simplified investments
An uncomplicated guide to investing capital
The basics of getting a mortgage
Understanding pensions
Are you too young to think about wills?
INTERNATIONAL AND EX-PATS: 90-MINUTE MODULE (Part of the 1 day basic course)
This course is specifically for employees who will either be working abroad or have come here to work from another country. It covers specific problems that they may encounter.
Course content:
How may money-laundering rules affect me?
Will I be resident for SA tax?
How does domicility for SA tax affect me?
Where should I be putting my savings?
How does working abroad affect my pension?
What about capital gains tax?
Inheritance tax and estate planning
MID CAREER PLANNING: 90-MINUTE MODULE (Part of the 1 day basic course)
This course is aimed at anybody who is part way through his or her working life. It gives staff the opportunity to think about the goals in life and are they on the path to achieving them? If not, is it financial matters that are preventing them, and how can they resolve those issues?
Course content:
Loans
Credit cards do you have the best rate?
Mortgages and Re-mortgages
Pension planning for the future
Saving and investing
Are you paying too much tax?
The importance of drafting a will
Where can you get advice?
INHERITANCE TAX: 90 MINUTE MODULES (Part of the 1 day basic course)
Course content:
Current tax thresholds
Equalising Estates
Effective wills and Trusts
Potentially Exempt Transfers the rules
Inland Revenue approved trusts
Long term Estate planning
Where can you get advice?
IMPLICATIONS OF LONG TERM CARE COSTS
Course content:
What are the current rules?
What if my spouse needs LTC?
How can I protect my estate for my children?
How do I fund my own care?
What are my available options?
What if my parents need care?
Where can you get advice?
MAXIMISING INCOME FROM CAPITAL
Course content:
How can I save tax?
Financial products and risks explained.
Where is the best home for my savings?
How do I construct a balanced portfolio?
The markets explained.
How does inflation affect me?
How can savings help my retirement?
LIFE CHANGES AND HOW THEY AFFECT YOUR FINANCES
Course content:
How can I protect myself and my family?
What sort of rainy day fund should I have?
What if I have several pensions?
How can I make my finances flexible?
What benefits does my employer provide?
How can I plan for the future?
What should I do about estate planning?
FINANCIAL IMPLICATIONS OF BUYING PROPERTY ABROAD
Course content:
The legal framework of the purchase
The tax implications (including SA and the country of adoption)
The provision of SA benefits or equivalent (state pension, healthcare, allowances etc)
The buying culture in Spain, France and US.
Leasing abroad to provide an income.
Repatriation back into the SA
Investment institutions in EU and US
Local tax breaks
REDUNDACY:
THE VOLUNTARY ROUTE
What tax will I have to pay?
Should I pay off my mortgage?
What about my pension entitlement?
What benefits will I be losing?
Should I replace them?
What if I have a lump sum?
What are my choices going forward?
THE COMPULSARY ROUTE
What tax will I have to pay?
What are my legal entitlements?
How do I manage debt?
What about my pension entitlement?
What benefits will I be losing?
Should I replace them?
What are my choices going forward
PRE-RETIREMENT (WITHIN 5-8 YEARS OF RETIRING)
Course content:
How does new pension legislation affect me?
What should I be doing to boost my retirement now?
What are my alternatives?
What about other pensions I have paid into?
What sort of savings should I consider?
How can I get a pension forecast?
The importance of making a will.
What should I do about estate planning?
What are my choices going forward?
RETIREMENT (WITHIN 12MONTHS OF RETIRING)
Course content:
How does new pension legislation affect me (April 2006)?
What should I be doing to boost my retirement now?
What are my alternatives?
Should I take a lump sum?
What about other pensions throughout my working life?
How can I get a pension forecast?
Should I opt for state pension deferment?
The importance of taking a will.
What should I do about estate planning?
How can I protect my beneficiaries?
| This is primarily ilt training |  | Contact Advanced Concepts for more information |
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| Duration: | 3 days | | Training Presented in: | English |
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