Offshore investment advice: Magnus Heystek reveals how advisors are vilified in SA
The Johannesburg stock market has perked up this year, sparking a fresh wave of attack on investment advisors who have recommended offshore diversification. The most high profile of these advisors is Magnus Heystek, who has been a household name since the 1980s when, as an award-winning finance editor, he introduced and developed the concept of demystifying personal finance to SA. His ‘Making Money Made Simple’ is on many bookshelves, as are his other books on investment topics. Heystek has built a hugely successful investment company in recent decades: Brenthurst Wealth Management manages about R14bn of assets on behalf of individuals. He continues to share his knowledge and insights, based on deep research, freely through his columns and appearances on radio and television with a view to empowering individuals to make the right choices with their money. In this article, Heystek lifts the lid on
A frugal single mum who made herself a millionaire shared her grocery shop tips
Serina Bird, 48, saves $5,200 per year by saving $100 a week on her groceries
She does Fridge Fridays instead of ordering takeaway and clears out food
Serina also said you should do a 21-day menu plan instead of a seven-day to save
Serina made herself a millionaire by being thrifty and always picking good deals
PAY DAY
Frugal mum turned millionaire with thrifty hacks reveals how to save £3k a year by giving yourself a ‘grocery pay rise’
Updated: 17 Feb 2021, 11:44
A THRIFTY single mum who became a millionaire with her frugal habits has revealed how she saves £3,000 a year by giving herself a “grocery pay rise”.
Serina Bird, 48, from Canberra, Australia, said she started saving from the age of 15 when she got a job at a discount supermarket.
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Frugal single mum Serina Bird, 48, is now a millionaire thanks to her money-saving hacksCredit: Serina Bird
Over 30 years later, Serina has now made herself a millionaire through clever saving and finding top deals.
Understanding the $1.6 million super transfer balance cap
February 2, 2021 â 9.00pm
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I am confused about the $1.6 million cap on superannuation balances. What happens to any excess over this amount? If I had $2 million in super and converted $1.6 million into pension mode, would I still have access to the remaining $400,000? What would my options be?
There is a common misunderstanding about the $1.6 million transfer balance cap.
Credit:Simon Letch
As its name implies, this is the maximum amount of super a person can transfer from âaccumulation modeâ to âpension modeâ in their lifetime.
If you had $2 million in super and transferred $1.6 million from âaccumulation modeâ to âpension modeâ, the fund balance would then comprise $400,000 in âaccumulation modeâ and $1.6 million in âpension modeâ.
Investing or trading? Itâs important to know the difference
February 2, 2021 â 9.00pm
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Investing in shares has been a major part of my life for more than 50 years and I believe they are the best long-term investments anybody can hold.
However, this view is not shared by everybody. Time and time again I hear statements like: âI invested in shares once and lost the lotâ, âShares are high riskâ, and âI guess itâs okay having a flutter on the stock market if you donât spend more than you can afford to loseâ.
ETFs are ideal for people who want to have an interest in the market, yet be unconcerned about its day-to-day gyrations. Illustration: Simon Letch