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Messages - gcr

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Introductions / Re: New Member/Long Story/New Beginning
« on: March 28, 2019, 12:44:10 pm »
Two pieces of advice:-
Draw up a 12 month budget covering all payable household expenses - I make a tab for each month on an Xcel spreadsheet and populate each month - bring the revision months negative or positive difference into the new month. If you pay annual fees car licence, donation to a charity populate those items in the month that they occur. If you extrapolate your spend and income over the full year period you will get a picture as to which months are going to be tight and which months you may have some flexibility. If you are positive you will get a bonus of some description or income from and investment then plug that in as well. If you have a loan for a car arrange with your bank that you want to introduce capital once or twice a year but it must reduce the capital due but the monthly repayments are kept at the same level - this will result in you paying off the debt x months ahead of the agreement period

Dreaming of being a millionaire is one thing, actually achieving it is another matter - this is nothing more than a project, so take the project management approach which simply put is having a start point and an end point and it needs strict milestones in between - if you miss a milestone then readjust to meet the same project end point. Once you get to 70% of you project journey then start looking at your next goal - which may well be R 2 mill. but ensure that you achieve it in a shorter period than the project to get to R 1 mill. There is no harm in setting long term goals but the real important part is setting milestones, meeting the milestones, or adjusting but still ensuring that you stick to your end date. As a person nearly 30 years your senior I have always worked on goals and meeting deadlines - my next end goal is 2025 but still twice a year I measure my achievements against that goal and determine whether I am on target or not and if not adjustments are made to achieve the end goal

So have fun setting up goals and milestones - also periodically do a reality check on progress made 

Off topic / Re: Live chat
« on: March 27, 2019, 11:16:27 pm »
Another member ran out of ink.
Nay - its invisible ink - just need to stroke it gently :LHST:

Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 15, 2019, 02:09:42 pm »
GCR: "I could caution you on RA's but I think it is probably too late - when I retired at 58 I drew down my RA's rapidly via living annuities and move all away from Old Mutual - where I am getting better returns on the single LA that I have".

Thanks for the suggested approach, GCR. I fully expect a battle, but feel better equipped ;}  Two questions for clarification: was it a deliberate strategy to draw down your RAs rapidly post retirement? Did you move everything away from, or to, OM? I wasn't quite clear on this bit. My reason for asking is I'm weighing up what to do with one of my RAs which matures earlier than the others.     
I moved my RA's away from OMSA as their charges were horrendous and they weren't open to negotiations - one was moved to Coronation as a L.A. the other small one I drew down and invested directly into the market

Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 14, 2019, 04:45:26 pm »
Thanks GCR - that is exactly what I am going to do. No doubt there will be all sorts of convoluted "explanations", but if I'm not satisfied, "heigh ho, heigh ho, off to the ombudsman I go"...
I am an ex banker so am very familiar with the financial fraternities eye watering charges. When negotiating on pricing always establish what their pricing is, if they tell you if you add a feature to our portfolio they must declare each cost component. You will find that they have no clue as to how costs are derived and will merely point out that that is the cost structure they work to. You will find that they won't be empowered to make decisions to cut back on fees, so if they can't make the decision get them to call in their boss and continue the discussion around the fees. Many operations will tell you that they don't have a mandate to effect meaningful changes, so the right question is "bring the decision maker here" don't accept a further future meeting to resolve the matter. If they are prepared to waive certain fees they will tell you "that they have reviewed your case and as a special concession they will lower the fees" don't stop there tell them to sharpen their pencils again and again and come up with fair and equitable fees that both parties can live with.
I could caution you on RA's but I think it is probably too late - when I retired at 58 I drew down my RA's rapidly via living annuities and move all away from Old Mutual - where I am getting better returns on the single LA that I have. You may want to look at investing in ETF in a TFSA as another option if interested earned in your portfolio exceeds the SARS deduction limits   

Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 13, 2019, 04:28:12 pm »
Two percent. And then on top of that are the costs of the various provider platforms that our RAs are housed in. Don't even get me started on what the broker fees are on my husband's mandatory school pension plan. Close to 8 percent.
I would seriously recommend that you call in this broker and ask to him/her to explain how the 8% is arrived at and then get the person to take a scalpel to the costs and pare them back significantly - remember its your future income you are shedding funds from

Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 12, 2019, 07:49:46 pm »
Hi Fin - be very cautious in using competitors on this site to map out your future investing options as by and large many of the competitors buy/sell shares to gain the No.1 spot for bragging rights.
You case is distinctly different you want pointers as to what you should do to alleviate financial burdens in retirement and TFSA's may not be the answer for you, especially given that any capital removed from a TFSA can't be replenished so it will affect your total investment.

So if you are going to be the administrator and investor of your "pension funds" you need to read a lot, attend seminars or talks on investing (Simon Brown runs regular sessions through JSE and presents in some of the large centres and listen) - he also has a website JustOneLap which you can read up back presentations. No I'm not a disciple of Simon's but I do value his mix of ideas; Warren Ingram is another who adds value to the mix.

Many people advocate investment advisors and quite honestly they are all well and good to listen to but find a creditable one who isn't hooked to any of the large investment houses otherwise they will want to sell their home breed as best of breed,

As a suggestion maybe you need to do a few sums like:- What's your monthly income now and what % do you want as a pensionable income when you go on pension, this could give you an indicator of how much you would need to put away now for your future "pension". It is not going to be easy as you would want to look to achieving at least a 70% pension replacement of your current salary incrementing/escalating over the next 8 - 10 year

As I said at the get go - this is my opinion, and is not a sure fire answer to your dilemma, and, others will also give their opinions - so sift through them and make you own call   

Off topic / Live chat
« on: March 11, 2019, 07:11:40 pm »
Quite sad state of affairs our JSE - on the current chart from position 74 upwards all competitors are showing negative results on their portfolios

Off topic / Re: Live chat
« on: March 11, 2019, 09:31:28 am »
Fortunately I also hold AVI;CLS; BVT; CSB; MRP; STXIND - for many years and they have been my bacon savers :-*

Off topic / Re: Live chat
« on: March 10, 2019, 08:38:09 am »
Oh - the list is much longer than these few:-
Off my portfolio alone;
ADI, CML, DCP, IPL, L4L, RFG, RFL, SYG,  - all 20% or more down on original purchase price.
My view is that politics is getting in the way of good business practices and having a major depressing effect on the economy, and the ability of business to function in such negative environs.
Hardly a day goes by where we don't hear some or other depressing economic story, looting by politicians or interference in the lives of South African, and yet the landscape is littered with thieving, fraud and wholesale treasonable acts and yet nobody goes to jail for their crimes.
Sad state of affairs indeed 

Off topic / Re: Live chat
« on: February 26, 2019, 03:54:33 pm »
I dabbled in CFD in about 2005/2006 and then stopped - the reason being that they are short term contracts and as such SARS then saw this as trading. If you are categorized as a trader then SARS treat profits as income and you are tax accordingly, and if you really do well (ha ha) you could fall into the super bracket taxpayer. Also when I engaged with SARS to understand the ramifications of being a categorized as a trader you would have great difficulty convincing them that you could be a trader and an investor at the same time . I also raised the question of partitioning a portfolio into 2 components "trading" and "investing" - investing you have to hold the shares for 3 years to be categorized as an investor. When we had the crash 2007/2008 I sold out much of my portfolio some in time others not so lucky - but I still kept my status as an investor. Another "trick" I learnt was that you buy a sizeable parcel of shares and you trade within this parcel based on the shares volatility but tax year to tax year your holdings stay at the original purchase. However over the ears I have stopped doing this because my stockbroker now sends comprehensive documentation to SARS and their investigators will (if you are on their radar) interrogate your transactions on the transaction listing report.
One type of share dealings that seems to have either disappeared or doesn't seem popular anymore is installment shares. In 2005 and 2006 I built up my share portfolio this way - you bought x number of shares in a company (at trading prices) but only paid 55% up front the balance you could defer for one year - this gave you the opportunity to see the direction of the shares - if increasing in price you paid at the original agreed price and could then sell at the higher current price and make a small profit or large profit if it took off. Haven't checked lately whether they are still available though
Be very wary with SSF's and CFD's - in about 2006 I lost some R35 k in the space of 2 days so it really is gambling at the high end and as all casinos know the tables are loaded against the gambler   

Off topic / Re: Live chat
« on: February 20, 2019, 04:43:57 pm »
Look on the bright side Greaham, you didn't buy EOH!
No but I did hold Steinhoff and sold out at a profit. And then bought in a large parcel at R 1.86 all inclusive - need my head read :LHST:

Shares / Re: What happened to all the 20, 25 & 30%+ stocks?
« on: February 20, 2019, 04:41:16 pm »
Well if you are the risky type then you could invest in AYO, Steinhoff, Sygnia, Dischem, ADAPIT and home for a return to better days (except AYO) :TU:
I hold shares in the last 4 and am prepared to wait a while longer before making a sell decision

Shares / Re: What happened to all the 20, 25 & 30%+ stocks?
« on: February 18, 2019, 09:13:55 pm »
Accept that over the last 5 years the economy in RSA has been in decline, we have a worsening exchange rate, and and GDP is growing at less than 1%. Then we had a change in president who regrettably is nothing more than a windbag - just shows his gifted enterprises taught him nought about business and economics - so we have a present who is nothing more than a goffer for the ANC.
Somewhere I read today that since November last year foreigners and saffers have taken R 400 billion out of RSA and there is little chance of the country receiving foreign investor funds unless stringent conditions are met. Elephant in the room is China who could invest heavily in this country but again they will demand concession and conditions that would make a smarty box look opaque.
When the political situation gets to an equilibrium then only are we likely to see some growth, forex investment and other good things happening in this country.
When the government have the courage to charge fraudsters (many of their own party members), jail the people and get the trade unions to wind in their necks on stupid wage demands with no evident productivity gains, then and only then will we see this country revert to a great place to work and live in.

Off topic / Re: Live chat
« on: February 15, 2019, 06:43:39 pm »
Wow - mine seems to be how the mighty have fallen. 2 place to go and I will be plumb last on the table :)) :)). Whereas a few weeks ago I got to about position 3 :money: :money:. Guess I need to buy a bucket load of Steinhoff, Taste or Grande Parade next month :LHST: :LHST:

Shares / Re: Satrix Indi
« on: February 12, 2019, 01:25:53 pm »
I have put 2 of the above ETF into my TFSA

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