How much money do you earn? And how do you spend it?

cguy

Executive Member
Joined
Jan 2, 2013
Messages
7,647
Not that I am aware of. I'm not sure our market is big and/or liquid enough for it to be sufficiently profitable for places to throw money at large and expensive teams. I know of a couple of teams at different banks that have tried it and they have never, to my knowledge, been able to do much more than break even and in a lot of cases the trading "profits" didn't even cover the teams' salaries.
I agree with that, however, is there anything stopping a local team from trading in other countries? None of the firms I know only trade locally.
 

wireddreams

Active Member
Joined
Mar 5, 2021
Messages
80
Just be the guy who solves problems. It doesn't matter which field you are in or what experience and education you have, just solve problems. Sometimes you just need to solve two or three big problems that are on upper managements radar and then go back to your usual average performance.
Precisely. I've made myself quite irreplaceable for doing exactly this. I'm the chief problem solver, really complex problems that no one would even attempt and I get things done in a few hours. I didn't start as a high earner, but the company soon realised that one day I'd recognise my worth and leave, and they wouldn't have that, so they offer me handsome yearly increases. I'm very happy with where I'm at, and I've had opportunities to leave the company but didn't, instead I registered a side business and I do consultancy work which gives me another income stream. Work harder than everyone else, work smarter, make yourself indispensable.
 

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,400
I agree with that, however, is there anything stopping a local team from trading in other countries? None of the firms I know only trade locally.
At the bank they had teams prior to 2007 GFC, but then shut them down. After that there wasnt much appetite and Basel plus excon rules. A smaller local hedge fund probably just because of the hassle factor of excon.
 

SatinJacket

New Member
Joined
Dec 26, 2019
Messages
9
update on previous post:
Age:38 not married, no kids

Income:
Gross Salary: R100K
Net Income: R65K (after provident, medical aid and taxes

Expenses
Bond: R25K
Rates & Levies: R3.5K
Insurances (Life, Car, Household contents, Legal etc): R3K
Fuel: R2K
Phone, Internet, DSTV, Digital Subscriptions:R3.5K
Groceries: R3K
Other Spend (Take aways, entertainment, clothing, gadgets, holidays etc): R8K
Savings/Investments: R17K

have just over a mil in savings. Contemplating whether to put this in my bond or purchase a rental property or invest in equities...
 

crack2483

Well-Known Member
Joined
Oct 27, 2013
Messages
405
update on previous post:
Age:38 not married, no kids

Income:
Gross Salary: R100K
Net Income: R65K (after provident, medical aid and taxes

Expenses
Bond: R25K
Rates & Levies: R3.5K
Insurances (Life, Car, Household contents, Legal etc): R3K
Fuel: R2K
Phone, Internet, DSTV, Digital Subscriptions:R3.5K
Groceries: R3K
Other Spend (Take aways, entertainment, clothing, gadgets, holidays etc): R8K
Savings/Investments: R17K

have just over a mil in savings. Contemplating whether to put this in my bond or purchase a rental property or invest in equities...
The obvious question. What the hell do you do for a living?
 

newklear

Expert Member
Joined
Apr 15, 2008
Messages
1,286
I have an acquaintance who tends to flash his Palladium card. I always refer to it as his “one-day-I-want-to-be-held-hostage” card.
It's actually a smarter move, $595 per year vs $15k for a Black Amex, but when you have millions lying around, who cares!

Have to be careful with the card though, can easily blind someone when flashing:
1618608497408.png
 

Pho3nix

The Legend
Joined
Jul 31, 2009
Messages
29,295
update on previous post:
Age:38 not married, no kids

Income:
Gross Salary: R100K
Net Income: R65K (after provident, medical aid and taxes

Expenses
Bond: R25K
Rates & Levies: R3.5K
Insurances (Life, Car, Household contents, Legal etc): R3K
Fuel: R2K
Phone, Internet, DSTV, Digital Subscriptions:R3.5K
Groceries: R3K
Other Spend (Take aways, entertainment, clothing, gadgets, holidays etc): R8K
Savings/Investments: R17K

have just over a mil in savings. Contemplating whether to put this in my bond or purchase a rental property or invest in equities...

Why such a big house if not married and no kids?
 

feo

Honorary Master
Joined
Jan 22, 2006
Messages
13,515
update on previous post:
Age:38 not married, no kids

Income:
Gross Salary: R100K
Net Income: R65K (after provident, medical aid and taxes

Expenses
Bond: R25K
Rates & Levies: R3.5K
Insurances (Life, Car, Household contents, Legal etc): R3K
Fuel: R2K
Phone, Internet, DSTV, Digital Subscriptions:R3.5K
Groceries: R3K
Other Spend (Take aways, entertainment, clothing, gadgets, holidays etc): R8K
Savings/Investments: R17K

have just over a mil in savings. Contemplating whether to put this in my bond or purchase a rental property or invest in equities...

Which area are you in and what do you do for a living?
 

Gozado

Senior Member
Joined
Jan 13, 2019
Messages
763
Like one of these, more or less, if one were to have zero capital for a down payment:
 

Priapus

Executive Member
Joined
Jun 8, 2008
Messages
8,267
update on previous post:
Age:38 not married, no kids

Income:
Gross Salary: R100K
Net Income: R65K (after provident, medical aid and taxes

Expenses
Bond: R25K
Rates & Levies: R3.5K
Insurances (Life, Car, Household contents, Legal etc): R3K
Fuel: R2K
Phone, Internet, DSTV, Digital Subscriptions:R3.5K
Groceries: R3K
Other Spend (Take aways, entertainment, clothing, gadgets, holidays etc): R8K
Savings/Investments: R17K

****ing hell, that's a lot to pay on a bond.
 

SatinJacket

New Member
Joined
Dec 26, 2019
Messages
9
Why such a big house if not married and no kids?
In my mind, I convinced myself that I’m preparing for the inevitable...marriage, kids...but to be honest...a bit of a vanity purchase. It’s not THAT big, 3 bedroom, 250sqm house in an “up-market” estate (Pretoria)
 

The Horae

Member
Joined
Apr 17, 2021
Messages
10
Throwaway because reasons....

Age: 32

Income:
Gross Salary: R100K
Net Income: R67K
Bonus 150% of CTC

Expenses are a lot to list, minor stuff - no car finance and have a bond of 12k. Lots goes to savings and some to UK account. Normally have around 25k or so left after bills - to which I just put away.
 

Priapus

Executive Member
Joined
Jun 8, 2008
Messages
8,267
You see...this is what happens when you wait till you’re 38 to buy your first property. That decision haunts me everyday, I’ve been renting for the last 17 years or so

What exactly, did happen? That's double my bond. I'm younger than you.
 
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