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Question of the day ~ How often do you braai?
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Sign up with GoogleR50 000 investment goal
here you go
https://www.fnb.co.za/savings-account/fnb-savings-account.html
However, there is no magical account that will somehow turn R3000 per month into R50 000 in 12 months. You need to move on from that
It also depends on the way you save. I opened a Fnb flexi fixed deposit for 12 months. I have a scheduled transfer to that account every month then on top of that all my reward partners deposits into this account. Fnb ebucks every 3 months at least R2200, discovery vitallity between 250 and 300 every month due to my healthy food options and then I get back on healthy gear as well.
Don't just depend on the compound interest there are other ways to save.
Don't just depend on the compound interest there are other ways to save.
Thor
Honorary Master
- Joined
- Jun 5, 2014
- Messages
- 44,236
Yea they are k@k they have this https://www.fnb.co.za/invest/money-maximiser.html
but there is minimums
Can look here https://www.allangray.co.za/fund-pages/money-market-fund/
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Caution Advice ahead:
If I where you, I'd buy bitcoin. You wont be disappointed.
Alton Turner Blackwood
Honorary Master
- Joined
- Apr 30, 2010
- Messages
- 27,483
Look for some desperate farmer, give him the R5k in exchange for 5 calves. Then take your first month's R3k and buy some of this http://extension.uga.edu/publications/detail.cfm?number=B1302
Come end November those calves will be MASSIVE, hand them over to her father in lieu of the R50k.
If you don't want to do the above, tonight when you get home tell her you'll only marry her if she's willing to go 50-50.
Come end November those calves will be MASSIVE, hand them over to her father in lieu of the R50k.
If you don't want to do the above, tonight when you get home tell her you'll only marry her if she's willing to go 50-50.
I will check it out. Hmm I must really look into this bitcoin thing sounds interesting.
I will look into it. Sounds interesting.
backstreetboy
Honorary Master
- Joined
- Jun 15, 2011
- Messages
- 37,562
That's only for 100k and above. Save that call...
LOL:crylaugh:
There is NO quick and easy way to do this.
Like the guys before have said. It takes years and years to do this. If it was possible to do it in months, then everyone would be billionaires.
Just put away whatever you can afford every month and wait...for many years...
Maybe buy a flat or a house.
You can buy a flat today for R500 000 and sell it in 5 years for a huge profit.
Then you take that profit and buy a bigger place. Do the same thing over and over and over and one day you will be rich.
Property is a great way to make money.
But it takes years...
Like the guys before have said. It takes years and years to do this. If it was possible to do it in months, then everyone would be billionaires.
Just put away whatever you can afford every month and wait...for many years...
Maybe buy a flat or a house.
You can buy a flat today for R500 000 and sell it in 5 years for a huge profit.
Then you take that profit and buy a bigger place. Do the same thing over and over and over and one day you will be rich.
Property is a great way to make money.
But it takes years...
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Thats some great advice for him to potentially lose his money overnight...
The money maximizer is quite cool. My cash is in it. But it is clearly not for him
Thor
Honorary Master
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- Jun 5, 2014
- Messages
- 44,236
You should learn to read.
I added a phat warning to that post.
And on the other side bitcoin has and still outperforms any of your investments
Eish! That's disheartening.
There's no easy way I see. Then I will open investment account with minimum of R5000 p.m. and schedule R1000 deposit every month and forget about it for the next 12 months. I will review it in Month 13 and decide on way forward.
I will do this with Capitec, FNB and Satrix 40
1. Open Satrix 40 and schedule R1000 deposit pm
2. Open FNB investment account and schedule R1000 deposit p.m (I will take that phone they sell net for benefits)
3. Open Capitec account and Schedule R1000 deposit.
4. Learn more about BitCoin and after 3 months decides on way forward.
After 12 months I will review all this investments and decide on way forward.
You should learn to read.
I added a phat warning to that post.
And on the other side bitcoin has and still outperforms any of your investments
I have held bitcoin for years. Pretending it only goes up is doing a massive disservice to it. It is highly volatile.
That is a good idea. But don't review in 12 months (As you could quite easily have lost half your money in the Satrix 40).
Rather review in 5 years
Splitting the money on such small amounts is not a good idea. If you want a guaranteed investment just put all of it in one account with the highest interest since the more money you invest the more the interest rates are.
And if you are a bit more adventurous go for bitcoins and after the budget speech or when Zuma replaces Gordan your bitcoins which are linked to the dollar will be good to you...