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fire2029

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fire2029 last won the day on January 21

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About fire2029

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  1. Here is a helpful interactive calculator which shows the cheapest RAs in SA for different RA values. Calculate here.
  2. Consider that Outvest's Fixed Endowment invests in a 5-year Absa Fixed deposit. From a tax perspective, - income from the Outvest Fixed Endowment will be in the form of interest - R 23 800 interest per annum is exempt from income tax. (R34.5k if older than 65) Endowments are taxed at a flat rate of 30% Their offer thus is interesting if (a) your marginal income tax rate is greater than 30% & (b) you have used all of or a considerable amount of your annual interest exemption at SARS !!! Note: Outvest quotes a simple rate of interest. This really is somewhat misleading. The FSCA should really enfore FSPs to quote nominal or effective rates only.
  3. Hello community members, I would like some feedback please. I have created a Home Loan calculator infused by FIRE . You can check it out here https://www.mymoneytree.co.za/calculator/home-loan/ What is it about? - Debt free living! How much do additional payments help me to become debt free? Thanks
  4. I want to invest in a Satrix product. Satrix 40 to be exact. It has a super low TIC of 0.14% & gives me instant diversified exposure. What is the cheapest way to do this, if I am looking to contribute to this investment on a monthly basis via debit order. I believe my options are: 1. Buy the Unit trust - direct (?) or via a platform 2. Buy the ETF - via stock broking platform like SatrixNow or EasyEquities Has anyone done the numbers on this?
  5. Does anyone know of a good Excel plug-in which can get me closing market prices for my stocks? Thank you
  6. Yes agree if you believe the rate which have you on your bond or car loan will be higher than rate of return you will achieve on your investment; then agree.
  7. Hmmm - I also thought so, but there are section 12j investments which start as "low as R100k".
  8. Great reply, Bandit... Unfortunately it is the road taken by many due to massive confidence issues reg our country's future! It feels like we are shooting ourselves in the foot, because the government will likely rip out our limbs anyway. Reg: do you really want your money locked away in an RA A big portion of investments is meant for the very long-term. ie retirement. I will not be touching it until then. So taking advantage of the tax breaks and re-investing those tax savings does make sense... on the one hand. On the other - I too am massively concerned about the future of this country. I might instead do some Section 12J investments to reduce my tax bills instead.
  9. TymeBank does not offer fixed deposits. That is why they do not feature on the site. That being said, their rates on offer are top-notch!
  10. I currently contribute around 15% of monthly salary to RA. Legislation allows me to contribute up to 27.5% or R350 000 - whichever is lower - assume the former Should I look to max out RA and take advantage of the great tax breaks OR use the 15% to invest in a low-cost, equity ETF? Has anyone ever run some numbers / models on which strategy would outperform if retirement is more than 20 years into future?
  11. STEP-BY-STEP GUIDE TO SAVING FOR YOUR CHILD’s EDUCATION (SA Edition) What this guide is about This guide will show you a step-by-step system, which any parent will be able to follow. By the end of this book, you will know how much tertiary education will cost in the future; how much you need to save at each life-stage and you will have an automated investment strategy done and dusted. # Chapter 1 We look at local and international universities. Their tuition fees now & in the future. # Chapter 2 What is your number? We figure out how much you need to save monthly to send them to university stress free. # Chapter 3 You will open an investment account (with as little as R500) and show you a set-and-forget automated child education investment strategy. # Chapter 4 What not to do. ==================== Update 20 November - Chapter 1 released
  12. Thanks for compliments! I also run www.mymoneytree.co.za
  13. Ok so I had some spare time. Browsed through all the SA banks' websites, scraped their fixed deposit rates, read the fine print and converted them to effective annual rates. I have made this research public & now you can see all of SA's fixed deposit rates on offer at https://www.ratecompare.co.za . I plan to update the rates on a monthly basis. Comments welcome for other banks to add or any feedback in general. I hope someone can draw value from this!
  14. @Bandit - thanks . Jack has been addressed & now features a light colour.
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