It's never too late or early to start investing
Whatever you invest in, time plays a crucial role. Whether you’re investing to grow your wealth towards your children’s education or to retire comfortably, the sooner you start, the better - though it’s never too late to start. A financial adviser can guide you on the best ways to make your budget stretch and still have enough to put towards savings every month.
Jeanette’s top tips on investing
- Time can be your best friend or greatest enemy. Start investing at a young age, you’ll reap the rewards of compound interest, but it’s never too late to start. Speak to a financial adviser about a new savings plan to make up for lost time.
- Research shows that investment decisions are made around fear or greed. A good financial adviser will keep you rational and committed to achieving your long-term goal. Learn more about 7 habits of money savvy households.
- Only 6% of South Africans will be able to retire with the lifestyle they enjoyed before retirement. If you’re part of the 94%, think about what will happen to you, and let that be your motivation to stop procrastinating.
Top tips for those who want to start investing
Warren Ingram, co-founder of Galileo Capital top investment tips to reach financial freedom are:
Get rid of debt
Get rid of debt as soon as possible so you can use that money towards saving and reaching your savings goals.
Start an emergency fund
Have an emergency fund of at least 3 to 6 months’ worth of your salary. You may want to consider a money market account.
Investing is for the long term. Let your money successfully grow through the magic of compound interest. Be patient and keep adding to your investment.
Watch your emotions
Don’t let your behaviour drive your decisions. Fear and greed are emotional decisions and could cost you in the long-term. Speak to a financial adviser who can offer rational advice.
Investment options for every life stage
You don’t have to be an experienced investor or have a lot of money to start investing. At Momentum Investments we have a range of investment products to meet your needs and expectations. We cater for all kinds of investors, from cautious to aggressive ones and have knowledgeable fund managers to ensure that you increase the likelihood of reaching your investment goals.
This previous Monday on Geldhelde
Momentum Metropolitan deputy CEO and Momentum Investments CEO, Jeanette Marais shared knowledgeable advice on how to invest successfully. Watch Geldhelde every Monday evening at 19:30 on VIA DStv channel 147.
EPISODE 8: 12 APRIL 2021