Gary Player visits Links: Inspiring generations through golf and grace!

The Black Knight plays our Jack Nicklaus Masterpiece – Gary Player visits Links!

Gary Jim Player was born in Johannesburg on 1st November 1935.

The first non-American to complete the career grand slam at the age of 29 – he is seen as one of the best golfers to have ever played the sport and one of South Africa’s best-ever sportsmen!

Gary brings this amazing aura, with the ability to interact with people and connect with them. We have a few images that showcase this beautifully at The Links – he’s always taking the time to ask them who they are and what they do.

Full Story Here

See also: Jordan Gumberg Wins The SDC Golf Championships – St Francis Links

Municipality safeguards the future of Early Childhood Development Centres

Early Childhood Development Centres – Long-term leases approved

 KOUGA – Kouga Municipality approved the long-term lease of 22 erven to Early Childhood Development Centres (ECDC) across the region.

This crucial item was tabled for input and approval at an Ordinary Council Meeting on Tuesday, 27 March 2024, marking a pivotal moment in the municipality’s efforts to support early childhood development initiatives.

According to Kouga Executive Mayor, Hattingh Bornman, the decision to pursue long-term leases follows a careful review of previous Council resolutions regarding the transfer of properties to registered social care organisations operating within the region.

“Initially, there was a resolution to transfer the properties through a deed of donation with restrictive conditions, specifically for social care purposes,” said Bornman. “However, after careful consideration, it was determined that providing long-term leases to the organisations would be a more suitable and sustainable approach, particularly in light of associated costs such as rates and taxes, which would fall under the responsibility of the property owner.”

It’s important to note that all the top structures on these properties were erected by the Department of Social Development, aimed at benefiting the lessee organisations.

Bornman said, “By securing long-term leases for Early Childhood Development Centres, the municipality aims to foster stability and continuity in the provision of essential services to young children and their families. These centers play a vital role in nurturing the holistic development of children, laying a strong foundation for their future success.

“The move also reflects the municipality’s commitment to promoting social welfare and empowering grassroots initiatives that contribute to the overall well-being of the community.

“Through partnerships and strategic decision-making, the municipality strives to create an enabling environment for sustainable development and growth.”

Kouga Draft budget for 2024/2025 approved by Council

Kouga Draft budget for 2024/2025 approved by Council

KOUGAKouga Municipality’s draft budget for the 2024/2025 financial year, was approved by Council on Tuesday, 27 February 2024, during an Ordinary Council Meeting.

The total operating revenue has increased by R95,210 million (7.34%), compared from R1,297 billion to R1,393 billion to the 2023/2024 adjustment budget.

Total Operating Expenditure

The total operating expenditure for the 2024/2025 financial year amounts to R1,506 billion, resulting in a budgeted deficit of R113,048 million. Compared to the 2023/2024 adjustment budget, operational expenditure increased by 4.79% in the 2024/2025 budget.

The capital budget reflects a decrease R45,733 (33.13%) compared to the 2023/2024 adjustment budget.

“Through this draft budget, we are advancing towards our four primary objectives, which are enhancing our Waste Water Treatment Works (WWTW), road repairs, decreasing dependence on Eskom, and improving customer satisfaction,” said Bornman.

Key Capital Projects

He highlighted key capital projects, including allocating R34 million to bolster Kouga’s fleet for better basic service delivery efficiency, and directing a total of just more than R29 million to the essential upgrade of the KwaNomzamo WWTW.

Other projects in the pipeline entail electrifying Ocean View (1 250 housing project) at nearly R4 million, installing extra boreholes in St Francis Bay consisting nearly R7 million, upgrading water supply infrastructure exceeding R3 million, and enhancing the beach sewer pump station at R1.2 million.

Additionally plans include improving the Phillipsville Sportfield (R500 000), upgrading of gravel roads (R28,9 million over the next 3 years), and upgrading the Loerie Sewer Pump Station (R150 000).

An amount of R145,976 million (66.84%) of total repairs and maintenance will be spent on infrastructure assets, including community facilities and sport and recreation facilities.

Bornman noted that the draft budget aligns with the key priorities outlined in the draft Integrated Development Plan (IDP) that was approved by Council on Tuesday, 27 February 2024, during an Ordinary Council Meeting.

Residents will be able to provide input on the IDP within the next few weeks.

Combating Sequence Risk When Entering Retirement

Retirees entering their golden years often face a significant financial concern known as sequence risk. This risk refers to the potential negative impact that market downturns early in retirement can have on their long-term financial security. However, there are several strategies retirees can employ to mitigate sequence risk and safeguard their retirement income.

  1. Bucketing Strategy:

One effective method of combating sequence risk is the bucketing strategy, which involves dividing retirement savings into different buckets based on time horizon and volatility. The first bucket, typically comprised of lower return, less volatile investments like cash and bonds, covers immediate spending needs for the next few years. The second bucket consists of more balanced investments, while the third bucket holds higher-return assets like equities for long-term growth. By segregating funds based on time horizon, retirees can weather short-term market fluctuations without jeopardizing long-term financial goals.

  1. Guard Rails Approach:

Another strategy is to establish guard rails or predetermined thresholds for portfolio withdrawals based on market performance. If the portfolio value falls below a certain level, retirees may temporarily reduce withdrawals or adjust spending habits to preserve capital. Conversely, if the portfolio experiences significant growth, retirees can increase discretionary spending within predefined limits. This flexible approach helps retirees adapt to changing market conditions while maintaining financial stability throughout retirement.

Combating Sequence Risk

  1. Maximizing Equity Exposure:

While conservative investments provide stability, retirees should also consider maximizing equity exposure for long-term income needs. Despite short-term market volatility, equities historically offer higher returns over extended periods, making them essential for sustaining purchasing power and funding retirement expenses over the long term. By maintaining a diversified portfolio with a significant allocation to stocks, retirees can capitalize on growth opportunities while mitigating sequence risk.

All or a combination of the above strategies will reduce sequence risk which can pose a threat to retirees’ financial security, particularly in the early years of retirement. Ideally this should be done in line with a long-term Lifestyle Financial Plan which takes the clients unique situation into account.

Combating Sequence Risk

Today retirement can last 40 years so the need for proper planning cannot be over emphasised. Doing this alone is difficult even for the most financially astute investor so getting the help of a qualified adviser will ensure that retirees can enjoy financial peace of mind and pursue their retirement dreams with confidence.

Dirk Groeneveld, Certified Financial Plannert. 

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