Saving and Investing for the future....6k a month

[yebocan]

I do not have debt, as in any debt. After all expenses are paid for, I have around R6000 a month to save/invest. I was just dumping the extra cash into my saving account, at 4.25% interest. Now I am buying 1k of Satrix Shares and 2k of Google/Apple shares via etoro webtrader, the remainder goes into my savings account, I like the idea that I have access to my cash at any time, so not looking to a fix deposit scenario. Any ideas, suggestions from you learned folk, would be entertained...lol...Thanks in advance.

 

[bromster]

Get a cheap DIY account with a local Stock Broker and trade yourself on the JSE. It is relatively easy to get some decent stock picks online or from the TV.

If you are buying stocks in $$$ from the USA, you introduce the exchange rate as another variable which might not work in your favour. Just my 2c

 

[yebocan]

Get a cheap DIY account with a local Stock Broker and trade yourself on the JSE. It is relatively easy to get some decent stock picks online or from the TV.

If you are buying stocks in $$$ from the USA, you introduce the exchange rate as another variable which might not work in your favour. Just my 2c

Thanks,will have a look into local Stock Broker Trader setup....my thinking going with $$$ shares is, any depreciation of the ZAR would play in my favour, when I eventually sell them...basically just buying, as to sell in a few years from now...

 

[akescpt]

Get a cheap DIY account with a local Stock Broker and trade yourself on the JSE. It is relatively easy to get some decent stock picks online or from the TV.

If you are buying stocks in $$$ from the USA, you introduce the exchange rate as another variable which might not work in your favour. Just my 2c

who offers usa share trading?

 

[krycor]

Curious what other options are there for short-medium term ? Need to decide how to go about something like this pretty soon too. Only criteria would be without a risk of loosing everything :-/

 

[Hendrix]

What's your reasoning behind Google and Apple? Have you been buying for a long time?
If you don't wanna lose capital, you might as well keep it in your 4.25% account, if you actually wanna make money, you gotta up the risk...

 

[Icarium]

Most unit trusts will beat that 4.25% with relatively easy liquidity and low (but not null) risk.

 

[z6cpo3]

good pick with apple and Google. Would add Microsoft as well, their cloud product is just picking up and they're as safe or even safer than apple long term.
But I would put the rest in any conservative unit trust here you'll readily get more than 4.25 and you can access your cash within 24 hours...

 

[OrbitalDawn]

Unit trusts. Allan Gray/Coronation etc.

 

[Paul_S]

Unit trusts. Allan Gray/Coronation etc.

I'm putting some money into Coronation Top20 and Allan Gray Equity unit trust funds each month.
Higher risk but higher reward and with an actively managed fund (with good performance records over the long term) it makes it a lot easier for the layman to get some capital growing.
I simply don't have the time or skill to do the grunt work in order to make informed investing decisions so I'd rather leave it to the pros.

 

[Alton Turner Blackwood]

I'm putting some money into Coronation Top20 and Allan Gray Equity unit trust funds each month.
Higher risk but higher reward and with an actively managed fund (with good performance records over the long term) it makes it a lot easier for the layman to get some capital growing.
I simply don't have the time or skill to do the grunt work in order to make informed investing decisions so I'd rather leave it to the pros.

Do they allow you to EFT into your account at any time? I signed up with Old Mutual, and I hate the forced debit order idea as I don't get paid on a fixed date

 

[Paul_S]

Do they allow you to EFT into your account at any time? I signed up with Old Mutual, and I hate the forced debit order idea as I don't get paid on a fixed date

Unfortunately not with Allan Gray or Coronation.
It's either an initial lump sum deposit, debit order or debit order plus ad hoc deposits.

However there is some flexibility in choosing a debit order date.
Allan Gray: 1st or the 15th of each month
Coronation: 1st, 7th, 15th, 28th

Maybe hunt around with some of the other investment companies and see what options there are but from what I've seen it's pretty much lump sum or debit order.

 

[OrbitalDawn]

Do they allow you to EFT into your account at any time? I signed up with Old Mutual, and I hate the forced debit order idea as I don't get paid on a fixed date

Unfortunately not with Allan Gray or Coronation.
It's either an initial lump sum deposit, debit order or debit order plus ad hoc deposits.

However there is some flexibility in choosing a debit order date.
Allan Gray: 1st or the 15th of each month
Coronation: 1st, 7th, 15th, 28th

Maybe hunt around with some of the other investment companies and see what options there are but from what I've seen it's pretty much lump sum or debit order.

With Allan Gray you can. Dunno about Coronation.

After you have opened your new investment accounts, you can add to these investments by making an additional contribution. An additional contribution is a non-recurring addition to your investment and this can be any amount that is over R500. You may make an additional contribution in several ways, you may choose to make an electronic funds transfer to Allan Gray, request that Allan Gray collects the amount from your bank account or make a cheque deposit to Allan Gray.

At any time during your investment, you are able to change your debit order by increasing or decreasing the amount of the monthly deduction. You may also cancel your debit order at any time and restart it at a time that is convenient to you at no cost.

So once it's set up you can cancel the debit order and just chuck money into it at your convenience. I'd suggest e-mailing them with your exact situation. They got back to me pretty quickly with a detailed answer.

 

[Alton Turner Blackwood]

So once it's set up you can cancel the debit order and just chuck money into it at your convenience. I'd suggest e-mailing them with your exact situation. They got back to me pretty quickly with a detailed answer.

Cool, thanks. Sending them a mail shortly.