SIDNEY'S THOUGHTS NUMBER FIVE

SIDNEY'S THOUGHTS NUMBER FIVE

WHY DO SOME YOUNG PEOPLE PREFER TO CULTIVATE
RELATIONSHIPS WITH OLDER POEPLE
WHO HAVE ADEQUATE FINANCIAL RESOURCES

1. The reason appears to be a prioratising of perceived financial benefits.

2. Some of the thoughts expressed by those who choose this route are:

When poverty walks in the front door then love
walks out the back door.

Rather an older person's darling than a young
person's fool.

Money is your best friend

Money not love provides the
necessities of life

The fortunate people are those who acquire both components mentioned above, that is:

LOVE AND MONEY

However when money is the motivating factor then there is the probability that the person, who chooses the financial route will cheat on his or her partner.

The consequences of cheating are too gross to contemplate.

Some of the possible consequences are:

1. Divorce when married in community of property can result in the partners having to divide the value of their combined assets. This can be beneficial to the poor partner and disaster for the rich partner. Beware this can be a motivation in such marriages.

2. Another probability is that partners may contemplate murder to acquire their partners assets.
This appears to be a disturbing factor in society.

Sidney cautions that love, appropriate financial management and marital fidelity
should be the qualities that should take
precedence in any marriage.

Go well my brothers and sisters.

SIDNEY WILLIAMS

SIDNEY'S THOUGHTS NUMBER FOUR - MONEY TALK

SIDNEY'S THOUGHTS NUMBER FOUR

MONEY TALK

1. Do not ever use credit to pay for a house loan, car financing, furniture financing, groceries et cetera unless you can afford to finance the credit. CREDIT COSTS. 

2. Even if you have a good job it may be at risk because of many factors including fluctuating demand.  When demand for goods diminish, factories down size, businesses lay off labour and the employee becomes redundant. If you lose your job you will have to do a drastic rethink about income and expenditure. 

3. If a large percentage of  the population defaults on credit payments because of inflationary pressures or job losses then the banks will be forced to foreclose on a large scale causing a credit crunch that will have serious negative effects on the creditors and the nation as a whole.

4. Banks and other lending institutions may repossess on such a large scale that they now have property that they can not resell due to lack of demand and less money to lend. This situation is currently playing itself out in economies worldwide. Worldwide poverty is the result of improper lending practices by lending institutions and improper borrowing practices by customers.

5. People must learn to use credit only if they can afford to finance it after drawing up a personal income and expenditure

account and only if their income substantially exceeds their necessary expenditure.

6. Keep you will up to date. Changes in the family such as births, deaths, divorces, marriage, family possessions et cetera will affect the way  your possessions will be dealt with upon your death.

7.Provide adequately for your retirement. If you do not, you may find that you will have insufficient funds to adequately fund your retirement.

8. Provide adequately for Medical Expenses for your family.

9. Establish a contingency fund for occupational layoffs, sickness

employment layoffs et cetera.

10. If you have a pension fund, retirement annuities or other retirement investment ascertain how the following contingencies are dealt with upon the death of the benefactor: 

A. What are your spouse's benefits. Does he or she get 50, 75, or 100 percent of the benefits?

B. If the surviving spouse gets 50 percent, what happens to the remaining 50 percent.

C. In South Africa members of the Government Employees Pension Fund, the wife gets 50 percent by default if married in community of property and the remainder can be divided amongst the children. If there are no children the beneficiary can nominate anyone he chooses to benefit from the remainder.

These matters are important. Establish how your benefits can be dealt with.

In South Africa if the marriage is by ante nuptial contract the pensioner of The Government Pension Fund can nominate anyone or several persons to receive proportions of his or her fund as the pensioner may decide. This is a fair dispensation.

However there are factors that bother me about this nomination and distribution of pension entitlements.

Consider the following scenarios:

1. A male member is a bigamist and has five wives and ten children. It is a given that the type of marriage ie: a marriage in community of property, a marriage with an ante nuptial contract,  with or without accrual, or a common law marriage will affect the disposal of funds.

However in South Africa the solution appears to be the division of pension funds by nomination.

Sidney's Comment on bigamist marriage:

Sidney is aware that there are bigamist marriages worldwide but it appears that only males are acceptable as bigamists.

Female Bigamists do not appear to exist. If they do I am not aware of it.

Sidney is of the opinion that if males can be bigamists then females should be allowed to have the same option.

Sidney is also concerned that the wives of bigamists may

become jealous and cause disharmony, not to mention the various children born of bigamous marriages. How does one maintain a harmonious relationship between the various spouses and their children?

COMMENTS ARE WELCOME.

GO WELL MY BROTHERS AND SISTERS

SIDNEY WILLIAMS