Noob investment advice

[NemoXX7]

but now lets say you ad 1k to your TFSA every month , it'll take you roughly 42 years to fill it , then lets say over that time it has grown to 9 mil

Is this accurate or an exaggeration? 500k to make 9mil sounds great, but too good to be true

 

[Frana.mtb]

Is this accurate or an exaggeration? 500k to make 9mil sounds great, but too good to be true

Compounded estimates with 1k every month and no escalation and relatively stable markets give around 5 mil

it was just an example( and 41 years is a fuck long time ) , could be much more especially if the first 15 years go decent

Compound is Mf'er

But Markets have been very weird the last 3 years and likely to be slightly down for the next 10 years due to covid


Take that the same example up top and escalate by 6% annually ( i.e. 1000 first year , 1060 second year , 1123 third ect ) then it jumps to 11 mil after 41 years

 

[Frana.mtb]

I apologize , that escalation can't be included because you'll eventually have to stop the contributions at 500k

but that 5mil can be taken as reasonably accurate

 

[Marcell1992]

Where do you buy/trade stocks?

I use Old Mutual, but I think their fees aren't market leaders. I'm sure if you dig deep enough you'll find platforms with almost 0% fees. I'm not switching platforms, because it will just cost me too much to do so.

 

[Beardedlion19]

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[NI∀ƆOƆ‾⊥ᴚ∩ʞ]

Hey guys I am an independent financial advisor with my own practice based in Johannesburg, would be happy to arrange a meeting to discuss some options etc.
Please feel free to drop me a mail at craig@creationwealth.org.za or check our our website www.creationwealth.org.za.
There is so much noise out there in the investment space that I think having an advisor guide you is a must.
All the best!

As per rules, you are going to need a reseller sub bud.

https://carbonite.co.za/index.php?account/upgrades

 

[Beardedlion19]

As per rules, you are going to need a reseller sub bud.

https://carbonite.co.za/index.php?account/upgrades

Post removed

 

[Marcell1992]

I've been too lazy to go and invest my stocks into mining companies, but it's on my to do list. Kumba Iron Ore and likely JSE AMS would be good investments now.

Tooting my own horn here, but Kumba iron is up 15%, lets see how high it goes.

I am brushing off my laziness and purchasing AMS.
Platinum has reached a low price of 850 and is busy climbing, hopefully it reaches its recent high of 1050 again.
AMS's platinum production has been steadily declining, but I think it will bottom out soon and hopefully climb again.

(Not investment advice)

 

[Qui_Illustrati]

I hear you.

My (literal twin) brother @milkshakes did all the diligence + safeguard checking & I am fine with the risk as a result.

Circling back to this. Not sure how this was glossed over....there are TWO of you walking this earth? 😳

 

[Dom]

Circling back to this. Not sure how this was glossed over....there are TWO of you walking this earth? 😳

Yes and no - I have a fraternal twin brother & we are quite different (in terms of neurodivergences effects too)

 

[Carbohydrate]

Put all money, including pension, in doge. It's about to pump real hard. Make debt if necessary.

 

[Frana.mtb]

Put all money, including pension, in doge. It's about to pump real hard. Make debt if necessary.

I'm willing to lose 5$ on a bet but that seems like grade advice for financial ruin

Ofcourse I could be wrong but....


...btw how do i setup my crypto.com profile

 

[Dom]

Put all money, including pension, in doge. It's about to pump real hard. Make debt if necessary.

 

[polygon]

Compounded estimates with 1k every month and no escalation and relatively stable markets give around 5 mil

Just wanted to see what sort of rate you'd need w/o escalation to reach 9mm at R1000/month.

Compound Interest Calculator

Use our compound interest calculator to see how your savings or investments might grow over time using the power of compound interest

www.thecalculatorsite.com

 

[tag11mac]

Short version, because there is so much to say/do:

Investing = long-term planned strategic capital growth - 5yrs minimum, 10yrs+ better...
Saving = something for 3-60mths, earning something reasonable, usually for a specific purpose (like house deposit)
Gambling = money you're willing to lose, high risk, short periods
Day trader / Casual trader = lots of lessons to learn, you will lose money while you learn!

There is room for all of them.

Investing: TFSA is the best starting point, but again, you need to pick a vehicle/fund... I don't want to give my unqualified advice, but I've used Nedbank with ETFs that have offshore gearing, very low cost, which is key for long term stuff. RA (only if you have tax issues to offset), but my favourite (after TFSA) is SA Government Retail bonds - 11%+ guaranteed. Easy to do, all online, no costs. Avoid companies that are life assurers or policy pushers... the costs kill your gains.

Saving = Moneymarket accounts and the like, everyone should have emergency money in one of these 24hr notice accounts - again I like Nedbank's JustInvest account... all online, no costs, 9.1% returns, capital guaranteed.

Gambling = crypto, forex trading, my personal favourite: http://sshortly.net/PokerBet (yes, an affiliate link, but legal - certainly more fun than betting on Bitcoin and shitcoins)... yes, I also could have retired if I didn't take my profits in 2018! But I thought I was being clever and responsible!

Day/Casual trader = a must do activity... you learn a lot when it's your own money - I've used most platforms, my favourite is definitely IBKR which enables me to buy things like the Vanguard VHVE index tracker - low costs and powerful tools. This one is 100% offshore though, so some admin to go through. You can buy fractional shares into Tesla, Amazon, Microsoft, Alphabet, Meta, all direct.


For all of the above (except the retail bonds), you want to focus on offshore funds (direct or via asset swaps)... the SA market is too tiny and the Rand too fickle.

PS. I'm anti-property as an investment vehicle... speaking from experience.

 

[tag11mac]

I use Old Mutual, but I think their fees aren't market leaders. I'm sure if you dig deep enough you'll find platforms with almost 0% fees. I'm not switching platforms, because it will just cost me too much to do so.

That's where the old school assurers have screwed us - they should be jailed for what they did 20-40yrs ago, and they should allow switching out for free!

I apologize , that escalation can't be included because you'll eventually have to stop the contributions at 500k

but that 5mil can be taken as reasonably accurate

The thing about a TFSA, is that because of the silly capping (how is that incentivising people to invest?) it means that whatever you put in there, you should actually leave well beyond even your retirement years - it should be your LONGEST term investment and you should NEVER withdraw until you absolutely have to.

I'll draw down my RA long before I touch my TFSA.