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Everything posted by Bandit

  1. If that is correct, LIARS!
  2. Bandit


    Bundle/Basket = a combination of ETFs
  3. The only thing I know about endowments is that 1) they're tax efficient and 2) some people get burnt by the fine print and end up making nothing.
  4. I don't mind people punting platforms but this is starting to feel borderline paid-for/affiliate advertising. Regardless, nice product. I might consider switching myself
  5. Does it mean the price goes up, down or no impact? That's all I really want to know. EDIT Got it!
  6. Since I may not get a chance tomorrow (and the fact that the JSE will be closed), I started my challenge today. I've set the bar a bit high so that it is a challenge and will try source the funds from my salary and other income every month and not use other savings for it (else what is the point): R400 x month cash via TymeBank R400 x month equities via EasyEquities
  7. I heard (maybe it was Mr. Brown on Twitter) that Massmart is a potential good buy because the Americans need to make it look attractive to offload it. This is based on a split second glance at a tweet or something so anybody reading this would need to do more research themselves.
  8. So over the holidays we walk past the kiosk and i decide to get my card. Easy enough. Wife ask what this is and I tell/convince her to open an account. Was it 5 minutes? Not sure but her account was up and running with a card in hand quicker than standing and paying for groceries at the till.
  9. Yeah but is there going to be any real benefit? Assuming you're an average South African with debt (car, house) you may do better by paying that off first, no? You'll save on interest and the "gain" you get is also effectively tax free.
  10. I'm not rich enough for that to be an option
  11. I should've qualified that with "Do you really want your money locked away in an RA in South Africa at the mercy of our lawmakers?"
  12. I'm no expert but assuming you are far away from retirement age and as per user name you intend to be financially free by 2029, do you really want your money locked away in an RA? Anyway, what I do is this: Max out TFSA first Contribute a percentage to pension (15%) because I can get this money out if we immigrate. Point is: I'll not be force to by an annuity one day and won't be subject to whatever unknown tax regulation there will be one day I contribute a small amount to an RA every month to 1) offset any monies I might owe SARS come tax season and 2) just in case... Once I leave my current job I'm still in two minds on what I'm planning to do with my pension. Currently I'm leaning towards taking the tax hit, cashing it out and investing it offshore. I trust this SA government and pension/RA money exactly f**ol.
  13. Which one of you is going to do this with crypto? Come on...
  14. That's not a bad idea actually: shares. I may rethink my entry If you use the Easy Equities platform you'll be able to buy for less (partial shares).
  15. Don't mess with the formula. It's meant to be difficult close to the end else what are we doing here? It is designed to foster a culture of saving. If you are fortunate enough to have your financial affairs in order you'll be saving a flat amount every month. There's not reason to change anything. Commit some values, even if it is "play" money and play the game.
  16. Rosendal has a deal where you buy 12 bottles of wine and get 6 free. If you drink a lot of wine (or are married to a white chick) it's not a bad deal at all. Their wines are pretty damn good. https://www.rosendalwines.com/collections/black-friday-deals Specifically, this is the one you want https://www.rosendalwines.com/collections/black-friday-deals/products/black-friday-bundle-3
  17. @Njabulo Nsibande @Spreadsheet Ranger @Groovy @SaurusDNA
  18. I'll start: Multiplier: 2 Rand value: R200 Total input for year: R31 200
  19. To work out your projected savings before interest (in other words the amount you'll put away): Multiplier x Rand Amount x 78 = ? 1 x R100 x 78 = R7 800 after 12 months 2 x R100 x 78 = R15 600 after 12 months 3 x R200 x 78 = R46 800 after 12 months (hello, this is good chunk of money)
  20. To work out you projected savings before interest (ie. the total you'll put in for the year): Multiplier x Base Rand Amount x total months, or rather: multiplier x rand amount x 78 1 x 100 x 78 = R7800 2 x 100 x 78 = R15600 3 x 200 x 78 = R46800
  21. Thanks to @Njabulo Nsibande who created this how-to thread: The basic idea is this: Every month has a number: January = 1, February = 2, March = 3 .... December = 12 You decide on a multiplier number, let's say: 2 You decide on a base amount of money: R100 Every month you take the month's number and multiply it by the multiplier and the base Rand amount. The result you save into a savings account. Example 1: Multiplier: 1 Base Rand amount: R50 Jan (1) x multiplier (1) x base amount (R50) = 1 x 1 x R50 = 1 x R50 = R50 Feb (2) x multiplier (1) x base amount (R50) = 2 x 1 x R50 = 2 x R50 = R100 Dec (12) x multiplier (1) x base amount (R50) = 12 x 1 x R50 = 12 x R50 = R600 Example 2: Multiplier: 2 Base Rand amount: R100 Jan (1) x multiplier (2) x base amount (R100) = 1 x 2 x R100 = 2 x R100 = R200 Feb (2) x multiplier (2) x base amount (R100) = 2 x 2 x R100 = 4 x R100 = R400 Dec (12) x multiplier (2) x base amount (R100) = 12 x 2 x R100 = 24 x R100 = R2400 Let's use this thread to track our progress for 2020 and see if we can meet our targets. Maybe those who want to participate can tell us and if you feel comfortable the amounts you have chosen.
  22. We'll need to create an official thread. This one belongs in the how to section but we need a 2020/2021/2022 etc. thread to track this.
  23. I'm in. I'm fortunate enough to be saving biggish amounts already but it would be nice to see this grow in an account of its own. I have not used up all of my Tymebank allowances yet (very far from it to be honest) so one of those goal saves will be reallocated to this.
  24. Once you access the bank you access the loan. No banky, no loany.
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