Know Your Money with Bronwyn Waner and Craig Finch

Know Your Money
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Welcome to Know your money, where we will explore our relationship with money and how the psychology of it impacts our financial decisions as everyone thinks about money differently. In our podcasts we will be presenting a variety of financial topics in an easy-to-understand way which, we hope, will assist you with managing your money.Please subscribe to our podcast or have a look at our website www.growthfp.co.za

  1. 2D AGO

    154. How Online Betting Drains Wallets And Communities

    Send us a text The scoreboard says “fun,” but the numbers tell a different story. We dig into the surge of online gambling in South Africa—how seamless phone betting, constant sports ads, and a culture of “one more chance” are reshaping family budgets, draining community spend, and pushing people into risky debt. Drawing on recent retail data, industry quotes, and firsthand stories, we unpack why the house always wins and what that means for anyone trying to build savings, pay school fees, or simply keep the fridge full. We talk through the mechanics that make mobile betting so dangerous: anonymity that hides the problem, rapid-fire micro-bets that blur cost, and platforms designed to keep you engaged. Then we zoom out to the wider economy, where money that once circulated through local shops now flows to platforms—many with profits that don’t cycle back into South African communities. The jump from R10bn to R150bn in online betting over five years isn’t a headline; it’s a warning light for households and the country. This conversation gets practical fast. We share step-by-step ways to add friction—deleting apps, blocking merchants, using bank tools for alerts, and automating essentials on payday so temptation meets an empty runway. We offer a path for recovery that respects the realities of addiction: tell one trusted person, seek professional support, and rebuild a spending order that protects food, housing, and transport before anything else. We also challenge platforms and regulators to introduce guardrails that reduce harm without waiting for crises to stack up. If you’re wrestling with betting—or worried about someone you love—there’s a way forward that puts structure, support, and sanity back into your money. Listen, share with a friend who needs it, and subscribe for more straight-talking guidance. If this helped, leave a review and tell us what tools you want us to explore next. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    8 min

  2. DEC 15

    153. Plan Your Year, Live Your Life

    Send us a text Ready to stop ending the year exhausted and wondering where your leave went? We share a simple, repeatable planning system that starts with joy: put holidays in the diary first, then design work around the life you actually want. From stretching 15 days of leave into memory-rich long weekends, to turning a big dream like a family Disney trip into a two-year, fully funded goal, we unpack the habits that make rest inevitable rather than hypothetical. We walk through practical tactics for affordable travel in South Africa: choosing bush, berg, or sea based on season, going self-catering or camping to cut costs, and keeping long weekends within a three-hour drive to avoid fatigue and fuel burn. You’ll hear how we use a dedicated holiday account, funded monthly, to remove the “we can’t afford it” barrier, and why your first year might mean fewer days off while you build the fund. We also talk about the strange magic of intentionality—how invitations and opportunities appear once your dates are set and you’re ready to say yes. Life design doesn’t stop at travel. After locking in rest, we add work targets, weekly rhythms, and the essentials from the wheel of life: health, relationships, finances, and growth. Small systems hold it all together—a family wall calendar to avoid clashes, a quarterly check-in to reset priorities, and a budget bucket for school-holiday extras so cash flow stays calm. Whether you’re planning a local braai weekend or saving for a bucket-list holiday, this approach helps you create a year you recognise and remember. If this conversation helped you rethink your calendar, subscribe, share it with a friend who needs a break, and leave us a review. Then open your diary, block your first long weekend, and tell us where you’re going. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    13 min

  3. DEC 8

    152. Money Talks: Brightrock's Premium Settlement Options

    Send us a text What happens to your life insurance when you retire? Most people face a difficult choice between continuing to pay steep premiums or abandoning coverage they've funded for decades. Sean Hanlon, Executive Director at Bright Rock, reveals a game-changing alternative. The premium settlement option stands out as Bright Rock's signature offering. Unlike competitors who limit this benefit to age 65, Bright Rock allows clients to activate it from age 55, provided they've paid premiums for 15 years. This means you can stop paying premiums while your coverage remains intact—a crucial advantage when pension funding becomes your priority and rising insurance costs become burdensome. Beyond this cornerstone feature, Hanlon unpacks several innovative benefits that redefine traditional insurance approaches. The pre-funded funding pattern allows clients (particularly business owners and farmers) to pay slightly higher premiums initially while enjoying level payments and 4% annual coverage growth. This creates predictable cash flow and significant long-term savings—millions of rands over a lifetime. Perhaps most revolutionary is Bright Rock's underwriting approach. When you take out a policy, you're underwritten in bands of R10 million, giving you access to additional coverage without further medical underwriting. This proves invaluable when circumstances change, such as when business opportunities require increased loan facilities, and your health might have changed. Even more remarkable, the "change moment payout" feature provides income for 10 years after retirement, functioning as a pension booster that pays out even if you've previously claimed on your income protection policy. Whether you're planning for retirement, structuring business insurance, or ensuring fair inheritance between children with different career paths, these features offer unprecedented flexibility. Listen now to discover how these innovations might transform your financial planning approach. Have you considered how your insurance needs will change in retirement? Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    12 min

  4. DEC 1

    151. Brightrock - Rethinking Life Insurance: The Premium Asset You Didn't Know You Had

    Send us a text What if your life insurance actually understood your changing needs over time? Sean Hanlon, Executive Director at BrightRock, returns to challenge everything you thought you knew about protecting your financial future. Most insurance companies sell you a "chunk of life cover" without truly understanding your needs. Sean reveals why income protection—your ability to earn until retirement—is actually your family's most valuable asset yet remains grossly undersold in South Africa. BrightRock's revolutionary approach splits protection into categories that reflect real life: household expenses, childcare costs, and healthcare expenses, each inflating at different rates. Through a powerful real-world example, Sean shares how a 40-year-old doctor diagnosed with stage four cancer was able to capitalize 25 years of future income rather than receiving monthly payments until his death four years later. This claim-stage flexibility represents a fundamental shift in how insurance can work when you need it most. Perhaps most revolutionary is BrightRock's concept of your premium as an asset. Unlike traditional policies where premiums simply disappear when coverage ends, BrightRock allows you to convert that premium value to other forms of coverage as your needs change—without medical underwriting. This becomes increasingly valuable as you age and developing health conditions might otherwise make obtaining new coverage impossible. Sean challenges listeners with a sobering reality check: if you earn R1 million annually with 25 working years ahead, you need R25 million in life cover to truly replace that income—not the R5 million many might have. Are you actually worth more dead than alive, or are you severely underinsured? Listen now to discover how needs-matched insurance can transform your financial protection. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    12 min

  5. NOV 24

    150. Reinventing Life Insurance: How BrightRock Matches Policies to Individual Needs

    Send us a text Sean Hanlon, the visionary founder of BrightRock, takes us on a journey through the transformation of life insurance in South Africa. Drawing from 36 years of industry experience, Sean reveals how questioning traditional approaches led him to create a revolutionary product that matches coverage precisely to each client's unique needs. The conversation delves into BrightRock's three-pillar philosophy that has disrupted the insurance landscape. First, efficiency—designing coverage that aligns with specific time-bound needs rather than forcing clients into whole-of-life solutions. Second, flexibility—allowing premiums to be reallocated as life circumstances change, like transferring childcare coverage to estate planning when children become independent. Third, certainty—providing predictable premium increases at fixed percentages, eliminating the guesswork that plagues traditional policies. Sean candidly shares the challenging experience BrightRock endured during COVID-19, when they paid out 1.48 billion Rand in claims over 24 months—exceeding their entire previous decade of payouts combined. This unprecedented challenge tested their business model but ultimately validated their approach to risk assessment. The discussion also highlights BrightRock's client-centered innovations, like paying dread disease claims upon diagnosis rather than waiting for end-stage symptoms, and how their partnership with Sanlam has provided stability while preserving their unique market position. For anyone interested in understanding how financial products can truly serve individual needs rather than forcing customers into standardized solutions, this conversation offers valuable insights into creating insurance coverage "as unique as your fingerprint." Visit www.growthfp.co.za to learn more about our approach to financial planning that puts your specific needs first. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    13 min

  6. NOV 17

    149. Life vs. Living Annuities: Finding Financial Security in Retirement

    Send us a text Retirement planning in South Africa has undergone dramatic shifts over the decades, and understanding these changes could be crucial to your financial security. Our conversation with Clive Lazar from Just Retirement reveals fascinating insights into how South Africans' retirement preferences have evolved from predominantly life annuities before 2000 to overwhelmingly favoring living annuities by 2020. What's particularly eye-opening is how global events reshape our financial decisions. The COVID-19 pandemic triggered a significant shift back toward guaranteed income solutions, with many retirees suddenly prioritizing certainty over potential growth. Lazar explains how high bond yields during this period created particularly attractive annuity rates, allowing retirees to lock in generous guaranteed income for life. As markets have since stabilized, we're witnessing yet another pendulum swing in preferences. Perhaps most valuable for listeners considering retirement options is the discussion around blended annuity solutions. Rather than choosing between a living annuity (with its flexibility and growth potential but sustainability risks) or a life annuity (with guaranteed lifetime income but less flexibility), you can now combine both approaches on platforms like Allan Gray. This innovative strategy allows you to secure essential monthly expenses with guaranteed income while maintaining investment control over the remainder of your retirement capital. The alarming revelation that roughly two-thirds of living annuity holders analyzed fall into "risky" or "danger" withdrawal zones underscores why this blended approach deserves serious consideration. Whether you're approaching retirement or already managing your retirement income, this episode offers crucial perspectives on creating a sustainable financial future that balances certainty with opportunity. Ready to rethink your retirement income strategy? Connect with a qualified financial planner who can help you determine if a traditional, living, or blended annuity solution best suits your unique circumstances. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    11 min

  7. NOV 10

    148. Your Health Could Boost Your Retirement Income, Here's How

    Send us a text What if your health challenges could actually boost your retirement income? That's the revolutionary concept explored in our fascinating conversation with Clive Lazar, regional manager for Just Retirement in Johannesburg. Most South Africans don't realize that traditional retirement annuities create what the industry calls "cross-subsidization" - where people with shorter life expectancies essentially subsidize those who live longer. It's a system that unfairly benefits the healthy at the expense of those with medical conditions. Just Retirement has turned this model on its head through their unique underwriting approach that examines your personal health factors like smoking history, medical conditions, and occupational hazards. Unlike life insurance underwriting that penalises health conditions with higher premiums, Just Retirement has enhanced annuities reward those same conditions with higher starting incomes - sometimes 15-25% higher than standard rates. About 30% of their policyholders receive some form of income enhancement, giving them more monthly income from the same retirement capital. This approach ensures fairness by matching retirement benefits to individual circumstances rather than using one-size-fits-all calculations. We also tackle common concerns about life annuities, including the fear of losing your capital if you die early. Clive explains how guaranteed term options protect your investment by ensuring payments continue to your beneficiaries for a specified period, even if you pass away. Whether you're planning your retirement or advising clients, this conversation highlights innovative solutions that could significantly improve retirement outcomes for those with health challenges. Curious how your health profile might actually benefit your retirement planning? Listen now to discover if you could qualify for enhanced retirement income that traditional providers might not offer. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    16 min

  8. NOV 3

    147. Money That Outlives You: The Just Retirement Story

    Send us a text Retirement income planning can be daunting, especially when considering how to make your money last as long as you do. This illuminating conversation with Clive Lazar, Regional Manager at Just Retirement, demystifies life annuities and showcases an innovative approach to guaranteed lifetime income. Just Retirement brings something unique to the South African insurance market. Backed by the UK-listed Just Group (a FTSE top 200 company), they've operated locally for over a decade with an impressive international 'A' credit rating—higher than any local insurer. This financial strength provides essential security for retirees entrusting their capital to receive lifetime income. What truly distinguishes Just Retirement's approach is their enhanced underwriting process. While all insurers consider standard factors like age, gender, and fund size when calculating annuity rates, Just Retirement goes further by incorporating socioeconomic factors and, uniquely among South African insurers, detailed health and lifestyle assessments. This personalized approach can result in more favorable rates for many retirees, particularly those with health conditions that might reduce life expectancy. The tax advantages of life annuities are substantial, especially when purchased with discretionary money. Approximately 60-65% of income from fixed-escalation annuities is tax-free, while annuities with variable increases (like inflation-linked or with-profit options) can offer up to 90% tax-free income. These benefits make life annuities worth considering for anyone looking to create efficient, guaranteed income streams in retirement. Whether you're approaching retirement or simply planning ahead, understanding these specialized financial products could significantly impact your long-term financial security. Subscribe to Know Your Money for more expert insights on securing your financial future, and visit www.growthfp.co.za to connect with professionals who can help you navigate these important decisions. Support the show Please subscribe to our podcast or have a look at our website www.growthfp.co.za

    12 min
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Welcome to Know your money, where we will explore our relationship with money and how the psychology of it impacts our financial decisions as everyone thinks about money differently. In our podcasts we will be presenting a variety of financial topics in an easy-to-understand way which, we hope, will assist you with managing your money.Please subscribe to our podcast or have a look at our website www.growthfp.co.za

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