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Saving is good. Saving is useful. But simply putting your money in a bank account won’t make you wealthy. It helps you in emergencies, protects you from irresponsible spending, and lets you sleep peacefully at night knowing your money is safe. It also lets you slowly accumulate money to buy things you want.
Patience is an important quality when you are trying to succeed at something, and investing is no different. It is all about being able to play the waiting game by staying calm and invested.
At the start of a new year, South African investors are once again asking tough questions about what to do with their hard-earned money. In contrast to other years, perhaps, there is little of the usual January optimism. Loadshedding is taking an economic and psychological toll, never mind all the other problems the country faces.
The 12 months of 2022 may have proved disappointing for many South African investors, but there were ample opportunities in local financial markets to take advantage of cheap asset valuations that added value to portfolios.
The strongest deterrent against FSP compliance missteps is or should be: