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CitizenPain

CitizenPain

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Apr 17, 2021
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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?
 
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First, save an emergency fund - at least three months. Then some ETFs, then crazy mad investments.
 
3WA said:
Read this:

Takealot.com: Online Shopping | SA's leading online store

South Africa's leading online store. Fast, reliable delivery to your door. Many ways to pay. Shop anything you can imagine: TVs, laptops, cellphones, kitchen appliances, toys, books, beauty & more. Shop the mobile app anytime, anywhere.
www.takealot.com www.takealot.com

First, save an emergency fund - at least three months. Then some ETFs, then crazy mad investments.
Click to expand...
I'm currently reading 12 Rules for Life but this is definitely next up!
 
3WA said:
Read this:

Takealot.com: Online Shopping | SA's leading online store

South Africa's leading online store. Fast, reliable delivery to your door. Many ways to pay. Shop anything you can imagine: TVs, laptops, cellphones, kitchen appliances, toys, books, beauty & more. Shop the mobile app anytime, anywhere.
www.takealot.com www.takealot.com

First, save an emergency fund - at least three months. Then some ETFs, then crazy mad investments.
Click to expand...
I think it might take me about a year to save up for 3 months expenses... rough estimate
 
CitizenPain said:
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?
Click to expand...
Madness. Rather go with Capitec, Tyme or even FNB etc.
 
CitizenPain said:
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?
Click to expand...
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.
 
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.
 
Barbarian Conan said:
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.
Click to expand...
Even if I get the account with Investec for 295pm instead of the normal 535? It comes with a trading account apparently
 
Solmonster said:
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.
Click to expand...
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.
 
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.
 
Gtx Gaming said:
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.
Click to expand...
You really see the cryptos climbing that much more?
 
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.
 
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