I would like some assistance on starting an investment stokvel(Club)
The plan is to form a Club with colleagues and ex-colleagues(basically friends) whom we have known each other for over 5 years. Mostly we also went to Varsity together. I have already done the briefing regarding this and all are interested. On Wednesday we will have an introductory meeting. Challenge is convincing them on buying into the long term investment idea. What I want to do this year is for us to raise money for the next 12 months so we will have substantial amount of money. We are going to start small with a monthly contribution of R500. We hoping to have around 15 members. I have invited 21 prospective members. So if we have say 17 member will this time next year we should have just over R100 000.
We are all Technicians and Engineers and we all novices in terms of share market. some of the prospective member are interested to learn while need some basic understanding of the share market. Idea is to use this year as a learning curve also while we saving. By the end of the year we want to be more educated and informed on investments.
We need guidance, advice, mentorship also things to lookout for so we can make this work. Also links to articles that you guys think will be helpful to us.
11 Months from know I would really like to hear from you guys as to where we can invest our money and all.
Thank you in advance
