First job

[CitizenPain]

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]

Read this:

Takealot

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

 

[CitizenPain]

Read this:

Takealot

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

I'm currently reading 12 Rules for Life but this is definitely next up!

 

[randomcat]

Buy gold and bury it.
Buy stonks

 

[CitizenPain]

Read this:

Takealot

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

I think it might take me about a year to save up for 3 months expenses... rough estimate

 

[CitizenPain]

Buy gold and bury it.
Buy stonks

I'm looking at the JSE... I'd like to keep my investments simple

 

[randomcat]

I'm looking at the JSE... I'd like to keep my investments simple

Nice get a feel of what's going on. The stock picks thread is a good start. Decent advice on there.

 

[zerocool2009]

Make sure you buy property before you hit 25!

 

[backstreetboy]

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]

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]

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.

 

[PhreakBoy]

Listen to this - it's an hour. If you like the format you can listen to some of their other shows.

Podcast: Five concepts that will make you rich

Visit the post for more.

justonelap.com

 

[CitizenPain]

Make sure you buy property before you hit 25!

I don't think I'd get a home loan until at least I'm 24 as thats when I complete articles/board exams

 

[CitizenPain]

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]

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]

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]

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?

 

[ShaunSA]

Buy gold and bury it.
Buy stonks

Waste of time. Tomorrow Covid kills you

Hookers and blow is the only way to go

 

[Jet-Fighter7700]

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.

 

[pinball wizard]

I don't think I'd get a home loan until at least I'm 24 as thats when I complete articles/board exams

You said you own an apartment? That would easily get you a bond somewhere else.