Noob investment advice

[NemoXX7]

So I have some money getting dusty in my savings account, I was thinking of putting it into a fixed deposit or some sort of medium risk portfolio, any advice on which banks offer the best interest rates? Or what is the best investment option over a period of 24 or 36 months for ZAR 20-30K. TIA

 

[Ech0.]

Why such a short timespan? Why not invest for retirement like your TFSA or RA or just for 5 - 10 years in something like an ETF

 

[Dom]

Funder Jet - 2 year fixed term & 16% to 17% return pa.

 

[NemoXX7]

Why such a short timespan? Why not invest for retirement like your TFSA or RA or just for 5 - 10 years in something like an ETF

I already have both a retirement plan and RA, plus savings for short term so have long term and short term covered, looking for a medium term solution

 

[BlueCrayon]

So I have some money getting dusty in my savings account, I was thinking of putting it into a fixed deposit or some sort of medium risk portfolio, any advice on which banks offer the best interest rates? Or what is the best investment option over a period of 24 or 36 months for ZAR 20-30K. TIA

I'm glad someone has asked this because I am also in this situation and wanted to start a similar thread.

People say "Just invest it bro" But like, where? Into what? I work with my hands everday, i mean i'm not an investment guru lol.

I was going to invest my money into a Nedbank MoneyTrader account which gives 8.5%+- interest rate and it's a 24 hour notice + monthly deposits which is nice, because it isn't for super long term.

Also hope someone can come give us some solid advice here.

 

[Ech0.]

I already have both a retirement plan and RA, plus savings for short term so have long term and short term covered, looking for a medium term solution

When you say retirement plan, do you mean a pension fund? Do you have any ETF holdings in external currencies like VT, VOO etc?

 

[NemoXX7]

Yea

I'm glad someone has asked this because I am also in this situation and wanted to start a similar thread.

People say "Just invest it bro" But like, where? Into what? I work with my hands everday, i mean i'm not an investment guru lol.

I was going to invest my money into a Nedbank MoneyTrader account which gives 8.5%+- interest rate and it's a 24 hour notice + monthly additions which is nice, because it isn't for super long term.

Also hope someone can come give us some solid advice here.

FNB is offering a fixed deposit with a 9,05% interest over 24 or 36 months (interest the same for both). Which if you drop R20K in after 2 years you have a grown it by a whole R1800, it doesn't seem worth it to me

 

[NemoXX7]

When you say retirement plan, do you mean a pension fund? Do you have any ETF holdings in external currencies like VT, VOO etc?

I have a company managed pension fund and an RA with Investec

 

[Ech0.]

Personally, I don't like RA's, I do have one, but its my third investment source. I have a 70% split into my TFSA/USD ETFs, 20% into RA, 10% into crypto. I have no reason for "medium-term investments" because by the time comes around to get your money back, it's not worth much more and you have probably made more money than that from work alone. Id suggest building a nice ETF portfolio and having that carry you medium/long term, and then RA even longer. I'm only 20, so don't take my words as financial advice, but its how I'm doing it, and I'm up around 5k in 1 ish year, which doesn't sound like much, but it compounds when you DCA into your ETF account.

 

[NemoXX7]

Personally, I don't like RA's, I do have one, but its my third investment source. I have a 70% split into my TFSA/USD ETFs, 20% into RA, 10% into crypto. I have no reason for "medium-term investments" because by the time comes around to get your money back, it's not worth much more and you have probably made more money than that from work alone. Id suggest building a nice ETF portfolio and having that carry you medium/long term, and then RA even longer. I'm only 20, so don't take my words as financial advice, but its how I'm doing it, and I'm up around 5k in 1 ish year, which doesn't sound like much, but it compounds when you DCA into your ETF account.

Yea, the problem is I don't have time to manage such a broad portfolio by myself and am not in the position to hire a full time investment broker, so I think I need to spend more time investigating into how to be doing these medium risk investments. I have been told 'Easy Equities' is a good platform but will need to look into it before I can formulate any opinions

 

[Ech0.]

Yea, the problem is I don't have time to manage such a broad portfolio by myself and am not in the position to hire a full time investment broker, so I think I need to spend more time investigating into how to be doing these medium risk investments. I have been told 'Easy Equities' is a good platform but will need to look into it before I can formulate any opinions

I manage mine by myself. It really isn't that bad. My RA is automatically taking money monthly, and I have 1 ETF in my USD portfolio, as well as manually buying crypto weekly. It takes like 10 minutes at most per week to manage it all.

 

[brakpanpolisie]

I have a company managed pension fund and an RA with Investec

Only thing I'll add here, be sure to check and compare your RA's fees with other companies offerings, every couple of months or so
I wasted a number of years on a product which in the end produced f-all due to all sort of fees and kak tacked on, the fees actually ate up all of the investment.

 

[Ech0.]

Only thing I'll add here, be sure to check and compare your RA's fees with other companies offerings, every couple of months or so
I wasted a number of years on a product which in the end produced f-all due to all sort of fees and kak tacked on, the fees actually ate up all of the investment.

This is huge yes, I personally recommend Sygnia, as the fees are not high at all, and their performance is great

 

[Dom]

When you say retirement plan, do you mean a pension fund? Do you have any ETF holdings in external currencies like VT, VOO etc?

Are you an aspiring FA?

 

[Dom]

I'm glad someone has asked this because I am also in this situation and wanted to start a similar thread.

People say "Just invest it bro" But like, where? Into what? I work with my hands everday, i mean i'm not an investment guru lol.

I was going to invest my money into a Nedbank MoneyTrader account which gives 8.5%+- interest rate and it's a 24 hour notice + monthly deposits which is nice, because it isn't for super long term.

Also hope someone can come give us some solid advice here.

Funder Jet

 

[yourang]

Withdraw and gooi it all on BTC, its FRIDAY yolo!!!!

 

[craigils]

For long term investing (5 years+) - EasyEquities is the way most people go. Investing really isnt as hard as a lot of people think. Paying someone to do it is barely ever worth it. By the time they've taken their cut, you're back where you started.

A few minutes of reading online can give you a good indication of a few ETFs to buy (should only need 3-5 ETFs), and you buy them and forget about it. ETFs are basically like a share, but its split across hundreds of companies. As the economy improves, so will your ETFs. So you're not putting all of your eggs into some company that you think is going to shoot to the skies, its more just a general investment in the overall economy.

Thats not advisable if you just want to put the money away for a year or two though. Though... is there really that much use in a 20-30k investment for a year or two? You're not going to see much growth. You may as well just put it in a normal savings account.

 

[BlueCrayon]

Funder Jet

Does it allow monthly deposits? I'm putting 50k down now and 75k down in around 4 months with monthly contributions of 8k. How is the risk also?

If so i'll definitely look into it.

 

[Dom]

Does it allow monthly deposits? I'm putting 50k down with 8k added a month. How is the risk also?

If so i'll definitely look into it.

It works on wallets (an investment one & a touchable one) - risk is good. You can invest a minimum of R 500 at any time (locked in for 2 years).

Plenty of info on their site.

 

[Qui_Illustrati]

Funder Jet - 2 year fixed term & 16% to 17% return pa.

Why to I get long con vibes from this? I can't seem to find who they're backed by or their origin story or where or how your money is put to work. Admittedly, I might be missing the obvious and didn't take the time to explore properly. As an investor though, you must have done your due diligence and something convinced you this isn't a long con. Perhaps care to share what that is?

Seems like a mom and pop shop (dad and son) and that's never comforting

 

[Dom]

Why to I get long con vibes from this? I can't seem to find who they're backed by or their origin story or where or how your money is put to work. Admittedly, I might be missing the obvious and didn't take the time to explore properly. As an investor though, you must have done your due diligence and something convinced you this isn't a long con. Perhaps care to share what that is?

Seems like a mom and pop shop (dad and son) and that's never comforting

I have got knowledge from @milkshakes - family of a work colleague who have a long run history of investing.

The due diligence was done - I do recall it is secured.

 

[Spaffy]

Why to I get long con vibes from this? I can't seem to find who they're backed by or their origin story or where or how your money is put to work. Admittedly, I might be missing the obvious and didn't take the time to explore properly. As an investor though, you must have done your due diligence and something convinced you this isn't a long con. Perhaps care to share what that is?

Seems like a mom and pop shop (dad and son) and that's never comforting

Thanks, I was just thinking along similar lines.

At the moment I have a 5yr fixed deposit with African Bank whom offer a 12.37% per annum on expiry, which I though was a good deal.

 

[Rinox88]

Well... Just stay away from get rich quick BS.
So so many scams out there.. Anyone else lost a few bucks with Happyminer.us?

Back to your question... Look at these guys.. Short and long term project investments (they have been around for 30 years.. I joined in 2019)

Check out Impact Farming by Fedgroup by signing up here: Fedgroup Platform
(yes its my referral link)

Thank me later!

Happy friday all!

 

[Dom]

Well... Just stay away from get rich quick BS.
So so many scams out there.. Anyone else lost a few bucks with Happyminer.us?

Back to your question... Look at these guys.. Sgort and long term project investments (they have been around for 30 years.. I joined in 2019)

Do you want to make money while doing something big? Check out Impact Farming by Fedgroup by signing up here: Fedgroup Platform

Thank me later!

Happy friday all!

You are unqualified to make this claim.

 

[Qui_Illustrati]

Well... Just stay away from get rich quick BS.
So so many scams out there.. Anyone else lost a few bucks with Happyminer.us?

Back to your question... Look at these guys.. Sgort and long term project investments (they have been around for 30 years.. I joined in 2019)

Do you want to make money while doing something big? Check out Impact Farming by Fedgroup by signing up here: Fedgroup Platform

Thank me later!

Happy friday all!

What's your kickback on that referral ?

 

[Byakugan]

If this is money you can play with then open an easy equities or your current banks shares account. Then buy and sell shares/eft/baskets etc. Start off small to get an idea of everything. Even if its just starting off with R500.

You can put it in these long term savings accounts but your not gonna get much with 20k to 30k. But if u do decide to do this then put it into a discovery free savings account. Then there wont be services fees that eat away at your interest gained.

 

[igg]

Why to I get long con vibes from this? I can't seem to find who they're backed by or their origin story or where or how your money is put to work. Admittedly, I might be missing the obvious and didn't take the time to explore properly. As an investor though, you must have done your due diligence and something convinced you this isn't a long con. Perhaps care to share what that is?

Seems like a mom and pop shop (dad and son) and that's never comforting

Thanks, I was just thinking along similar lines.

At the moment I have a fixed deposit with African Bank whom offer a 12.37% per annum on expiry, which I though was a good deal.

Snap. Company I've never heard of promising higher than average returns off small amounts on a fancy website?

Google isn't even picking up any articles on this, which is rather strange for such an "amazing" product. The only things I'm finding is stuff they've posted themselves.

 

[Ech0.]

Are you an aspiring FA?

Nope, just been managing my investments since like 17

 

[BlueCrayon]

Snap. Company I've never heard of promising higher than average returns off small amounts on a fancy website?

Google isn't even picking up any articles on this, which is rather strange for such an "amazing" product. The only things I'm finding is stuff they've posted themselves.

Eish and I just sent their copies of my I.D

But I think I will pass on them, it's a bit sketch.

 

[Qui_Illustrati]

Eish and I just sent their copies of my I.D

But I think I will pass on them, it's a bit sketch.

Too late. They have your personal details. Best you watch your back and keep a close eye for any random local and offshore accounts opened in your name laundering dirty money.
Now you've gone and done it. You are ruined.