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Taking care of your family back home – what South African expats can do

By November 26, 2015July 25th, 2020South African Expats

Taking care of your family back home – what South African expats can do

November 26, 2015

If you’ve emigrated from South Africa, chances are you had good reason for your decision. Many South Africans aren’t exactly jumping for joy at having given up their home, but sometimes necessity pushes them to take the leap across the great oceans.

One of the greatest causes of stress for these emigrants is often their concern for their family left back home. Although you can’t force your family to follow suit, there are still some things you can do to assist your family back home.

Be empathetic

As much as your decision to relocate may have been right for you – you need to remain cognisant of the feelings and convictions of your loved ones still staying in SA. You know more than anyone that a move of this magnitude is not for everyone, and not everyone is willing to give up their home or able to start a life abroad.  Still others do not have the financial means or the qualifications to make it easy to move abroad. So, as hard as it seems, try to remain empathetic to their needs.

Remain positive

As hard as it may seem, staying positive is never a bad thing. Of course, this does not mean you should be blind to the problems in South Africa – we have a high crime rate, we have a government crippled by corruption, our educational system begs reform, but stating the obvious will not solve any problems. Remember that many people still retain hope of change. Also keep in mind that the media will undoubtedly report on all the negative aspects of South Africa, so although the situation is dire – those who live here may still have a positive view of the country.

Prepare for any eventuality

Although your family may not want to relocate right now, there is always the chance something may happen to change their minds. So start doing your research – think of places they can emigrate to (perhaps near you), which will offer them the jobs they need, suitable educational prospects and homes where they would feel at home. Without being pushy, if something great comes along – tell them about it. They may not decide to move tomorrow, but you never know what the future holds.

Take care of them financially

If you don’t want to, or can’t, transfer your policies offshore, you may want to retire from your fund and take care of your family left back home through monthly payouts to them. Or perhaps you want to change beneficiaries on your policies or trusts. Many South African emigrants are choosing this route and using their nest eggs to care for their loved ones back home. If you are not earning in rands, you may also consider transferring funds back home from your new country. Although you can’t force your family to relocate, a monthly financial booster may improve their situation and give you some peace of mind.

Let help you out!

Although can’t keep a positive mindset for you and help you view your family from a position of empathy, we can help you with your financial needs. If you need help to retire from your fund or to change or name beneficiaries, we can administer the process for you in South Africa. We can also offer you better exchange rates than commercial banks for fund transfers.

As a Reserve Bank approved foreign exchange intermediary and a financial migration specialist, we have all the necessary credentials and experience to deal with your finances back home and help you make informed decisions for the financial needs of your family.

Simply leave your details and we’ll call you!

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