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Bandit

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Bandit last won the day on August 3

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About Bandit

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    Keeper of the Ban Hammer

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    https://offtopic.co.za

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  1. He's probably right but who cares - it's making me money
  2. So let's see: TFSA +28% ETF5IT (42%) ASHGEQ (55%) STXEMG (3%) The growth here was helped by timing the crash and dip earlier this year and time. Portfolio #1 +8% SYGWD (27%) SYG4IR (42%) STXCHN (31%) Portfolio was started after the crash, so gains are partly due to the recovery (maybe?) and the recent growth we've seen over the last week. Portfolio #2 +77% ETFRHO (95%) DCX10 (5%) Ah yes, portfolio 2. Otherwise known as my **** around portfolio. Growth is largely from past performance of ETFRHO and it's been stuck in the +70 range for a while. I reckon the party is over but scared of capital gains.
  3. So I'm decommissioning the offtopic.co.za site because I enjoy writing blogging software more than I do writing actual blog posts. BUT, I use that calculator a lot so if anybody is interested, I moved (and updated, read, mobile friendly) it over here: https://andrev.me/growth-calculator/ On a side note, if anybody wants a domain called offtopic.co.za let me know - cheap cheap
  4. Yes. FNB to Investec for a -0.5% lower rate. It's a slow process because of COVID and the deeds office shutting down every other day. Both banks have been ready to do the transfer for a while now. So, long story short: - some (all?) banks like FNB require you to give them advanced notice that you intend to settle the loan (3 months I think), so that's step one. - costs: It will be a repeat of the bond reg costs unless the attorney does it at a discount (so on a R1.5mil loan it's about R25-30k). These costs can be loaded onto the loan if you wish. - there is a cancellation fee at the current bank which is in the region of R5,000. For a better interest rate and/or bank and over long enough time it is worth it.
  5. What is your business selling/doing?
  6. You'll want income, disability and severe illness cover regardless of how old you are. If something happens you want to be able to maintain your lifestyle. Life doesn't really care for your age or relationship status and after it's run a number on you and if you are still alive you'll want money. Life cover is for when you die (for the most part). Basically - make sure your debt is covered and nobody else gets stuck with it. If you have no family...well... yeah. It's not expensive though.
  7. Nothing with regards to their product offering. Biggest mistake I ever made though was "upgrade" to their Private Client suite which is a bunch of bs. Most of the time you have to phone the relevant department anyway. Bigger deposit can potentially mean better interest rate. If we put the interest rate aside, there should be no difference in repayments between having a R1 000 000 bond with R200 000 in an access facility vs a bond with R800 000 outstanding. The fundamental differences (and take it with a pinch of salt): Access facility means just that, you have access to any extra funds you put in your account. Great for an emergency fund, but easy to spend if you are "bad" with money Extra money in the access facility returns at the rate of your home loan interest but tax free. You pay tax on interest you gain but not on interest you save. Down side obviously is that the rate of return is pretty low compared to what equities are returning, so having too much in the access facility is potentially bad given the low interest rates. You cannot fix the interest rate on a bond with an access facility which is something people may want to do in a year or so's time Personally - I took the access facility to keep my options and access to funds open.
  8. Uhm, no idea what my credit score was but it's good. Haven't checked in a long time but never missing a payment for over a decade does that. This was for a 100% loan so interest rates weren't as competitive, but I opted to rather put the deposit into the access facility. Told her I wanted FNB. So she went to ABSA, Standard Bank and Nedbank first. Nedbank responded with prime-0.15, ABSA with something like Prime+3 and Standard Bank somewhere in between. Then sent the Nedbank offer to FNB who immediately matched it. We didn't negotiate much further because of the 100% bond. Since then and with the interest rates that fell I moved to Investec and in the process of moving my bond to them as well. A bit early, have to pay bond attorneys again (although, Investec discount) and I get Prime-0.65% which means I'm now on 6.6%. Also move my vehicle finance to them at Prime-0.5%. So very happy. In the grand scheme of things the extra round of bond fees is not the worst and I just want to get away from FNB as a whole. Not advisable unless you've done the calculations and happy with the financial impact (you shouldn't be.... something wrong with me) Lessons: If you want to negotiate, put down a 20% deposit Make sure you're happy with whomever gives you the loan because moving too soon is not cost effective
  9. I used Betterbond. But I bought from a developer and the estate agents made use of them. In other words - I don't remember paying for their services (not sure how they get paid).
  10. Keep us updated then
  11. Bandit

    American airlines

    Uhm... Easy Equities? https://platform.easyequities.co.za/Equity/Details?ContractCode=EQU.US.AAL Whether it is a good idea or not I cannot tell you, maybe it is due for a rebound? Looks like a train wreck though but it can't fall much further. Why not invest in something like Visa or Mastercard?
  12. What does this mean?
  13. Well, if you provide a free platform with stop loss and limit order functionality I'll definitely be keeping an out on it, but after that FCSA number etc
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