Investment/Saving advice

[stevengzn]

Hi
Long story, but I managed to get myself into a bit of debt. I've worked hard at getting myself out of this debt and am now in a position where I have a spare R1000-R1500 every month to save/invest.

Does anyone have any recommendations on what accounts/plans i can look at?

Thanks in advance!

 

[xrapidx]

If you're not completely out of debt... keep paying off the debt

 

[Ecco]

There was a nice article on fin24 i think. I cant seem to find it again. Poke around on there, maybe you find something.

 

[phiber]

Stevengzn, depends how liquid you would like your money. if you need it quick access, put it in a marketlink at 4%. If you looking slightly longer term, can look at call accounts, and if you are looking medium term (eg 5 years) would suggest you setup an annuity/endowment that you pay into monthly.

 

[early-invester]

Investment

Stevengzn, depends how liquid you would like your money. if you need it quick access, put it in a marketlink at 4%. If you looking slightly longer term, can look at call accounts, and if you are looking medium term (eg 5 years) would suggest you setup an annuity/endowment that you pay into monthly.

Although the mentioned ideas are good I will personally go for a Equity fund Allan gray/ Coronation other wise have a look herehttp://www.equinox.co.za Otherwise you can invest in Satrix Divi (I like this one ) or Satrix top 40 whereby they invest your money in the top 40 jse listing atm. All these options are good it is just you need to decide how much risk are you willing to take. Because in the end no risk no reward.

Good luck !!!!

ref:
http://www.satrix.co.za
http://www.allangray.co.za/individualInvestors.aspx#equity
http://www.coronation.com/compare-funds

The three investment options listed above might not be the best out there but the are certainly in the top of things, and they are also going to be my new cash cows 200k each with a 5k5 instalment pm.

 

[Nokkie]

You can buy the book called Rich dad, poor dad. It has a great techniques that teaches you to save money and work with your cash.

Hi
Long story, but I managed to get myself into a bit of debt. I've worked hard at getting myself out of this debt and am now in a position where I have a spare R1000-R1500 every month to save/invest.

Does anyone have any recommendations on what accounts/plans i can look at?

Thanks in advance!

 

[Malasius]

Although the mentioned ideas are good I will personally go for a Equity fund Allan gray/ Coronation other wise have a look herehttp://www.equinox.co.za Otherwise you can invest in Satrix Divi (I like this one ) or Satrix top 40 whereby they invest your money in the top 40 jse listing atm. All these options are good it is just you need to decide how much risk are you willing to take. Because in the end no risk no reward.

Good luck !!!!

ref:
http://www.satrix.co.za
http://www.allangray.co.za/individualInvestors.aspx#equity
http://www.coronation.com/compare-funds

The three investment options listed above might not be the best out there but the are certainly in the top of things, and they are also going to be my new cash cows 200k each with a 5k5 instalment pm.

SPAM

 

[xrapidx]

How is that spam?

 

[Freshy-ZN]

I agree that if you still have any debt then you dont really have a 'spare R1000-R1500' every month. Keep paying off the debt.
If you are clear of debt then decide what kind of a risk you are prepared to take with your spare money.

Low risk keep up with inflation if you lucky: Fixed deposit or call account
Low risk try to beat inflation: Money market type account like Sanlam Liquid
Medium risk: one of the many mutual funds/unit trust type offerings
High Risk: Stock market etc.

 

[Viper25]

As the other guys said, if you have spare cash and you still have existing debt then you should pay off the debt with that extra cash. You will end up saving more in the long run by doing this.