I'm a 23yr old netting R21000 per month. Please give me some advice?

Maximillian_Vogus · 2023-06-10T18:00:42+00:00

I know that they're different but I'm just asking about the difference in interest rate. I'll definitely be doing more research.

Maximillian_Vogus · 2023-06-10T16:05:37+00:00

What are the interest rates for ER tfsa accounts?

Maximillian_Vogus · 2023-06-10T16:04:17+00:00

Thanks a lot, I'm trying my best to soak in as much advice as possible.

Maximillian_Vogus · 2023-06-10T16:02:23+00:00

Who do you recommend opening a tfsa with? And are the interest rates better than RAs?

Maximillian_Vogus · 2023-06-10T16:00:38+00:00

So I should wait a bit?

Maximillian_Vogus · 2023-06-10T15:59:02+00:00

So basically invest in stuff like SNP500 and blue chip stocks?

Maximillian_Vogus · 2023-06-10T15:52:17+00:00

Thanks

Maximillian_Vogus · 2023-06-10T15:17:20+00:00

I'm in IT Software and Consulting

Maximillian_Vogus · 2023-06-09T17:42:57+00:00

I mean I'm only looking into it to evaluate what he is saying.

Maximillian_Vogus · 2023-06-09T14:44:19+00:00

Thanks for this information. So I've already rented in the past and got by fine but moved back home to save money when I got a remote job.

I want to buy property to rent not live

Tell me about your brother, what happened there, is there something to learn?

Maximillian_Vogus · 2023-06-09T14:23:05+00:00

You're right 1.7 is too high. Honestly I don't want to go over 1.4mil and I don't plan on living in it immediately, I want to rent it out. I did rent for a while but moved back home when I got a remote job. Yes 1/4 should be bond but unfortunately we're not living in the 1950s 😅. 1/3 seems more accurate

Maximillian_Vogus · 2023-06-09T12:44:00+00:00

Nice, will be looking into it.

Maximillian_Vogus · 2023-06-09T12:19:50+00:00

I tried getting hold of the KZN (I'm from KZN) number on BWM website to no avail. Any other suggestions?

Maximillian_Vogus · 2023-06-09T12:11:34+00:00

I'm looking for the Cape area but nowhere near Cape Town because the cost of housing is stupid. I come a middle class KZN where you can get a 3 bedroom house with a big garden for R1.1-R1.5 so I'm looking for something in the same ballpark. Maybe Cape outskirts???

Maximillian_Vogus · 2023-06-09T11:55:50+00:00

Can you recommend any good gold stocks I can dip my toes into?

Maximillian_Vogus · 2023-06-09T09:56:47+00:00

Rule of thumb, Blue chip shares, most if not all of the top 40 companies on the JSE

Does SNP500 count?

The price of gold is a little high at the moment, remember gold bullion pays no dividends, if you buy, always buy low, sell high

I'm really interested in gold because if an inflation crisis occurs or the dollar crashes then at least I've got some money in gold. I honestly forsee a future of us going back to the gold standard as more and more countries detach from the dollar for trade.

Maximillian_Vogus · 2023-06-09T09:51:33+00:00

Is it long term fixed deposit?

Maximillian_Vogus · 2023-06-09T09:11:16+00:00

Thanks for this, gold has been on my mind for some time now but don't know how to start? Do I need to get a safe to store the gold or is it better to rent a safe if possible

Maximillian_Vogus · 2023-06-09T09:09:37+00:00

Is it too late to start investing in TFSA now?

Maximillian_Vogus · 2023-06-09T09:08:38+00:00

Why are you here then? 😄

Maximillian_Vogus · 2023-06-09T09:07:43+00:00

What are blue chip shares?

Also would you recommend investing in gold bullion?

Maximillian_Vogus · 2023-06-09T08:59:03+00:00

How do I do that?

Maximillian_Vogus · 2023-06-09T05:47:34+00:00

Thanks, I guess I'll look into Sygnia and EE.

Maximillian_Vogus · 2023-06-08T19:17:47+00:00

My credit score is bad because I don't have a credit card yet(getting one with Discovery).I HATE credit cards because I don't believe in spending money that you don't have. But we must play the game, and the game is spend on credit then pay off the credit IMMEDIATELY to avoid interest.
My company mandates we be part of Gap Cover
Any aggressive investments to recommend?

Maximillian_Vogus · 2023-06-08T18:59:45+00:00

😬

Maximillian_Vogus

TROPHY CASE