See this sound advice for staying in South Africa

Despite living in a country with many daily challenges, not everyone can or wants to emigrate from South Africa.

Many skilled South Africans have migrated or are planning to move to countries such as Australia, New Zealand, the UK, Canada, and the United States, in search of more safety and stability, and improved standards of living.

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SOUTH AFRICA’S CHALLENGES

South Africa faces a raft of issues, including poor economic growth, an unstable political environment, high crime rates, and ever-collapsing infrastructure.

Local economist Dawie Roodt says South Africans who are staying should make the right choices and protect their wealth.

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LEAVING SOUTH AFRICA

For anyone who is not able or planning to leave SA, here is some advice from an expert economist.

According to Daily Investor, there are a few measures you should take to protect your wealth and livelihood.

IMPROVED SAFETY

People who will not emigrate but who will continue to stay in SA must ensure their safety and avoid risky situations. 

This might entail beefing up security at your home, or it may involve moving to an estate with higher security.

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VALUABLE SKILLSETS

The world economy is changing fast due to rapid advances in technology.

Roodt says that people must have the skills and technology required to participate in the advancing global economy.

INVESTMENT PORTFOLIO

Roodt advises South Africans to have a diversified investment portfolio, with a sizeable portion of funds invested outside of the country.

He says that there are many more investment opportunities in international markets.

This is a wise way to protect your wealth against political and economic turbulence in South Africa.

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EMPLOYMENT OPPORTUNITIES

He says that it is not necessary to leave South Africa to find employment.

This is because employees can work for global companies while being based in SA.

“Economies today are not as physical as they used to be. This makes it possible to stay in South Africa and work in the global economy,” Roodt said, per Daily Investor.

TAX ISSUES

The economist advises South Africans to pay as little tax as possible, without breaking the law.

However, he also warned against a tax revolt or completely stopping the payment of taxes.

“I encourage people not to break any laws but to make use of every possible legal loophole to pay as little tax as possible in South Africa,” he said.

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STAYING IN SOUTH AFRICA

Therefore, South Africans can keep living here and enjoying the advantages of life in South Africa without the need for emigrating.

The joys of living in SA include the hospitable climate, great cuisine, and close connections with family and friends.

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