Ghost Stories Ep28: The 2024 kick-off (with Duma Mxenge of Satrix)

Welcome to 2024!

An investing strategy can only be successful if there is money available to invest. In the first part of this podcast, The Finance Ghost and Duma Mxenge discussed concepts like:

• The value of planning ahead and how this can save money (e.g. when booking holidays – especially to cheaper jurisdictions than South Africa!)
• The usefulness of sitting with a financial advisor earlier in the year.
• Dangers of living bonus-to-bonus each year.
• The reality of middle-class inflation in South Africa and effective double tax.

After initially bouncing around these ideas, the conversation turned to financial concepts including:

• Different financial needs at different stages of your life – with Duma giving a clear and succinct explanation that we can all relate to, followed up by a discussion on the need to achieve balance in life.
• The importance of stress-testing interest rates when deciding to take on debt.
• The financial and practical considerations of renting vs. buying a home.
• Of critical importance: financial discipline doesn’t mean not having nice things!
• Why “tax free savings account” is a misleading name and some of the strategies that can be used with these investing accounts.
• Offshore vs. local strategies and what we can learn from 2023, along with various nuances like the true impact of a strong vs. weak dollar on global tech stocks.
• The bad habit of South Africans wanting to send money offshore when the rand is at its weakest.

The podcast ended off with a discussion on the ETFs that should exist – with The Finance Ghost beating the drum once more for the JSE to have a proper retailers index!

There’s so much in here, underpinned by Satrix’s commitment to South African investor education. To find out more about SatrixNOW, visit this link>>>

Disclosure

Satrix Investments (Pty) Ltd is an approved FSP in term of the Financial Advisory and Intermediary Services Act (FAIS). The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision.

While every effort has been made to ensure the reasonableness and accuracy of the information contained in this podcast (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information.