First job

CitizenPain

Member
Joined
Apr 17, 2021
Messages
18
So I'm a final year student at uni and I've signed for articles (candidate attorney) with a firm for next year. As it is my first job I thought I'd look at the opinions of anyone willing to share with regards to what I should do next. My salary after tax and deductions should leave me with a few grand to spare. I have inherited an apartment although it is not in the city I will be working in (Sandton) and my budgetmobile car is fully paid up.

Some of the advice I've been given from those close to me include opening a private banking account with Investec and investing as much as possible... but in what?
 

3WA

Honorary Master
Joined
Sep 25, 2012
Messages
16,004
Read this:


First, save an emergency fund - at least three months. Then some ETFs, then crazy mad investments.
 

backstreetboy

Honorary Master
Joined
Jun 15, 2011
Messages
31,784
So I'm a final year student at uni and I've signed for articles (candidate attorney) with a firm for next year. As it is my first job I thought I'd look at the opinions of anyone willing to share with regards to what I should do next. My salary after tax and deductions should leave me with a few grand to spare. I have inherited an apartment although it is not in the city I will be working in (Sandton) and my budgetmobile car is fully paid up.

Some of the advice I've been given from those close to me include opening a private banking account with Investec and investing as much as possible... but in what?
Madness. Rather go with Capitec, Tyme or even FNB etc.
 

Barbarian Conan

Expert Member
Joined
Aug 8, 2017
Messages
4,531
So I'm a final year student at uni and I've signed for articles (candidate attorney) with a firm for next year. As it is my first job I thought I'd look at the opinions of anyone willing to share with regards to what I should do next. My salary after tax and deductions should leave me with a few grand to spare. I have inherited an apartment although it is not in the city I will be working in (Sandton) and my budgetmobile car is fully paid up.

Some of the advice I've been given from those close to me include opening a private banking account with Investec and investing as much as possible... but in what?
You don't need a private banking account to invest with them. The bank charges for private banking accounts are crazy high compared to the normal accs, especially considering how few times you will make use of the perks.
 

Solmonster

Well-Known Member
Joined
Apr 17, 2014
Messages
186
Also look into some RA (retirement annuities). It forms part of your saving plan for your retirement and also you can deduct it from tax. Start early. Start small. Dunno what the industry norm is but if you can save and keep the % the same ( I think 25% is the max) of your salary for retirement (what ever instrument/means) and keep it that way with every salary increase you'll retire early and with comfort.
 

CitizenPain

Member
Joined
Apr 17, 2021
Messages
18
You don't need a private banking account to invest with them. The bank charges for private banking accounts are crazy high compared to the normal accs, especially considering how few times you will make use of the perks.
Even if I get the account with Investec for 295pm instead of the normal 535? It comes with a trading account apparently
 

CitizenPain

Member
Joined
Apr 17, 2021
Messages
18
Also look into some RA (retirement annuities). It forms part of your saving plan for your retirement and also you can deduct it from tax. Start early. Start small. Dunno what the industry norm is but if you can save and keep the % the same ( I think 25% is the max) of your salary for retirement (what ever instrument/means) and keep it that way with every salary increase you'll retire early and with comfort.
At the moment my employer takes deducts 7% from my salary and matches it for my pension fund. I'm not sure if that's the limit for their match but I'd obviously put in as much as they would match next year.
 

Gtx Gaming

Gtx Gaming
Joined
Aug 25, 2008
Messages
23,988
15% of spare cash into an RA( 10x or sygnia is pretty solid companies), you can claim some of this money back from SARS that you contibute to the RA.

The rest you have spare on btc/eth 50% spilit, you will thank me when you buy a lambo cash.
 

CitizenPain

Member
Joined
Apr 17, 2021
Messages
18
15% of spare cash into an RA( 10x or sygnia is pretty solid companies), you can claim some of this money back from SARS that you contibute to the RA.

The rest you have spare on btc/eth 50% spilit, you will thank me when you buy a lambo cash.
You really see the cryptos climbing that much more?
 

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
28,266
crypto is the way of the future, and you dont have to invest much,
nobody says you have to invest 100K and nobody says you have to buy X,

but something small, and keep it, and watch it grow.
 
Top