8 Mistakes Wealthy People Never Make
[vc_row][vc_column][vc_column_text] “Many folks think they aren’t good at earning money, when what they don’t know is how to use it.” (Frank A. Clark) Accumulating wealth isn’t as hard as it sounds. Years of consistent, calculated investing are almost guaranteed to fill up your coffers. For many, the trickier challenge is maintaining their wealth. Luckily, it’s […]
Why Timing Might be Everything in Retirement – Especially in a Bear Market
Imagine two people who both retire with savings of R5 million. Both of them decide to take an income of 5% of their starting capital per year, which would be R250 000. For the first five years, the first investor receives annual returns of 15%, 7%, 0%, -7% and -15%. The second investor gets the […]
Loss Aversion and Lifestyle Creep – How Behaviour Influences Saving
“For everything you have missed, you have gained something else.” (Ralph Waldo Emerson) Don’t be biased towards short term loss ‘Loss aversion’, from an investment perspective, refers to our tendency to avoid losses over acquiring gains. For example, we all know that sinking feeling when the market isn’t performing – it’s so tempting to cash out […]
Can You Take Out Life Insurance on Someone Else?
Taking out insurance on someone else’s life might sound a bit macabre. But this is not about secretly taking a bet that someone is going to die soon. Insurers won’t let you take out a policy on a stranger. In South Africa, it is possible to take out a life policy on someone else, provided […]
How To Grow Your Finances [A Gardening Analogy]
We planted the garden a few weeks ago and one vegetable we like to grow is corn. I noticed as I was watering that something had bit off the top of some of the corn plants that were started to grow. It almost looked like something had eaten it. The same day we planted our […]
Why Your Investment Portfolio Is Like a Garden
I started working full time in the summers at the ripe old age of 15. Believe it or not, I felt pressure from one of my parents to get a summer job. I already mowed lawns and delivered papers, but I guess that wasn’t enough. With the best intentions, my hard working parent was just […]
7 Surprising Financial Benefits of Gardening
You probably already know that gardening can save you money on groceries, but it also has other great financial benefits. Discover how spending some time in the sun and dirt can save (or even make) you money. 1. Working in the garden can boost your mood. Outdoor activities like gardening can make you a happier person. […]
