Where should I put 150k for a year

In order: Pay off debt, put it into an access bond, max out your tax free savings account, put anything else into a regular investment account.
 
patrick said:
In order: Pay off debt, put it into an access bond, max out your tax free savings account, put anything else into a regular investment account.
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I'm in a similar situation.

Regarding the tax free savings account, should I max it via lump sum (R30k) or recurring? And should these tax free accounts always be investing accounts (ETF) instead of savings?

What is meant by "regular investment account"?
 
Im in the same situation.I deposited a sum into an FNB 32 day account with a portion in the savings pocket for easy access.
 
Vohligh said:
I'm in a similar situation.

Regarding the tax free savings account, should I max it via lump sum (R30k) or recurring? And should these tax free accounts always be investing accounts (ETF) instead of savings?

What is meant by "regular investment account"?
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Lump sum beats periodic investments over long investment periods.

You get a tax free savings and investment account (TFSA and TFIA). TFSA is a regular savings account (cash...think fixed term-, 7 day call-, money market accounts). TFIA are your ETFs, unit trusts etc.

If you are investing for more than 5 years, definitely a TFIA. For what it's worth, I reckon a TFIA with DBXWD, MAPPSG and PTXTEN (35:55:10 split) is a very good combination.
 
DrewChan said:
I will probably be emigrating at some point in time next year at which point I would withdraw it anyway.
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ZAR is doing (relatively) well so I'd move it overseas now. Maybe open a Lux trading account and stick it in there? Buy a couple of regional EFTs in various currencies...

Seems like a much better bet than keeping it in ZA and hoping Zuma doesn't open his mouth.
 
The month has come and I am leaving my company. I have accrued 200k in my provident. I am pretty worried about the ZAR tanking, specifically with the news of Pravin's possible arrest etc.

What do - a lot of the suggestions were simple investment accounts - however should the rand go Zim in the next year - my money is worthless.

I know its not much but its my only buffer should I find myself in need
 
I now have the money - any further advice? 160k burning a hole in my nedbank cheque account - need to move it somewhere.

All debt paid off
No property (and not going to buy)
 
DrewChan said:
I now have the money - any further advice? 160k burning a hole in my nedbank cheque account - need to move it somewhere.

All debt paid off
No property (and not going to buy)
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if you intend emigrating then perhaps do as others have said and convert it to a foreign currency, no use embarking on a strategy that's not aligned to the emigration strategy
 
DrewChan said:
I now have the money - any further advice? 160k burning a hole in my nedbank cheque account - need to move it somewhere.

All debt paid off
No property (and not going to buy)
Click to expand...

If you need it liquid (e.g. imminent purchase, emergency fund etc) FNB money maximiser @ 7.25% is pretty good. Otherwise invest it.
 
saturnz said:
if you intend emigrating then perhaps do as others have said and convert it to a foreign currency, no use embarking on a strategy that's not aligned to the emigration strategy
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If emigrating, then FNB Global account in the currency of your destination country (unless it's the UK, in which case I'd recommend keeping it in ZAR and pocketing the 7.25% interest as GBP probably still has a way to go before it levels out).
 
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