How to bounce back after financial setbacks
Many South Africans have faced challenges this year amid the COVID-19 pandemic that resulted in financial setbacks, such as job losses, pay cuts, spiralling debt, and mounting medical costs.
“Although it’s not always obvious at the time, setbacks can provide opportunities to build resilience,” says Nomi Bodlani, head of Strategic Markets at Allan Gray. “Setbacks are a part of life.”
The good news, she says, is that research suggests that many people who take action to get their finances in order, can recover from financial setbacks.
A study released in the USA recently showed that around 73% of investors say they've experienced a significant financial setback, and at least 89% of these investors were able to stage a comeback, with some even being better off afterwards.
If you have found yourself in this position this year and wondered what you can do to empower yourself to reach your financial goals, Bodlani says there are strategies you can adopt to help you get back on track, the first of which is to arm yourself with information.
“Firstly, you must want to take the steps necessary to reach your goals, and then follow that with action. By seeking the right information from reputable sources, you are already starting to invest in the future of your financial health,” she explains.
Whether or not you have experienced a financial setback this year, Allan Gray has launched a free, 6-part live webinar series, Personal investing 101 to help investors. Drawing on the experience of investment professionals, the series will empower you to understand key investing concepts, how unit trusts work, how you can use them to build towards achieving your financial goals, and the strategies you can adopt to become a discerning and successful long-term investor.
The series is moderated by award-winning broadcaster, financial journalist, speaker, and moderator, Gugulethu Mfuphi, who currently hosts Kaya FM’s popular prime time business show, Kaya Bizz.
“The series gives investors the confidence to remain committed to their goals. It will help them make clear decisions and equip them to ask the right questions of their independent financial advisers,” says Bodlani.
To register for the webinar series, visit: https://www.allangray.co.za/personal-investing-101-a-6-part-webinar-series/
Webinar topics
Understanding investment accounts
Once you understand how investing works and you have mapped out what you want to achieve, it is important to match your goals to the right investment account. Register for this webinar to understand your options and the key considerations when making your decision.
Date: Thursday, 12 November 2020
Time: 13:00 – 14:00
Speakers:
• Jonathan Turner – Head of Retail Operations, Allan Gray
• Tamryn Lamb – Head of Retail Distribution, Allan Gray
• Earl van Zyl – Head of Product Development, Allan Gray
Ready, set, invest
Once you understand the basics, how do you put everything together in a plan and get started? Find out what you need to consider as you embark on your long-term investing journey.
Date: Thursday, 10 December 2020
Time: 13:00 – 14:00
Speakers: Coming soon
Your questions answered
Investing can be a daunting journey and you are bound to have many questions along the way. We will spend this session answering any questions that you may have about investing.
Date: Thursday, 21 January 2021
Time: 13:00 – 14:00
Speakers: Coming soon
