MyMoney Online

Can you survive your own personal Brexit?

What's Brexit all about?

It’s all about economic independence. Britain being able to sustain a standard of living for all citizens on it’s own without depending on the European Union. It boils down to Britain being able to grow (GDP) on it’s own which will enable it to generate enough income (revenue) to cover costs (expenditure) and improve the standard of living of its people.

Click on the audio below to hear Paul's chat with Sam and Africa then carry on reading!

The big question you should ask yourself

Closer to home, Brexit brings to mind a number of pertinent questions... To what extent can you financially stand on your own two feet? How dependant are you on the bank and other money lenders? If there is a financial crisis will you need family and friends to bail you out?

Currently 47% of South Africans at 65 are financially dependent on family.

The way forward to your own financial independence is to have a plan that ensures you have sufficient funds in place to maintain your standard of living no matter what life changing event comes your way.

The journey to financial independence can be a tough one as you need to compromise at times. If your expenses are too high then you need to adjust your standard of living. The Brits will probably have to do this in the short term as they find out where their economy will eventually settle. From that level they can then make a plan for growth, working on key aspects of their own economy.

So what's your vote?

We all have a vote in our own lives which we can take. Go it alone and become financially independent or depend on others for the rest of our lives.

How to do it is no mystery? Finding the will to do it and then committing yourself is the what it takes. The Brits have taken the decision. Good luck to them as they embark on a journey to establishing their own financial independence.

Read more from Paul Roelofse at www.investforlife.co.za

Read More
Curro's 'Stadio' is the hottest share you can buy this week - Vunani Securities

Curro's 'Stadio' is the hottest share you can buy this week - Vunani Securities

Small and medium cap analyst Anthony Clark shares his stock pick of the week with Bruce Whitfield on The Money Show.

2 shares that should pay handsomely, if you buy them now (by Luthuli Capital)

2 shares that should pay handsomely, if you buy them now (by Luthuli Capital)

The Money Show’s Bruce Whitfield asks Luthuli Capital Executive Director Mduduzi Luthuli for his stock picks of the week.

Huge study clearly shows how chopping and changing investments destroys wealth

Huge study clearly shows how chopping and changing investments destroys wealth

Trading is bad for your wealth. Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

3 best shares to buy right now (by Sasfin Wealth)

3 best shares to buy right now (by Sasfin Wealth)

Three hot investment tips from Sasfin Wealth Portfolio Manager Paulo de Almeida.

Where to invest money you intend to leave to your kids

Where to invest money you intend to leave to your kids

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

How to survive retrenchment

How to survive retrenchment

Your rights (and their responsibilities) upon retrenchment. Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Popular articles
Estate agent Aida admits it’s the source of SA’s largest data hack ever

Estate agent Aida admits it’s the source of SA’s largest data hack ever

The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.

UCT engineering student creates affordable grey water system

UCT engineering student creates affordable grey water system

Nkosinathi Nkomo came up with a system that could turn grey water into usable water amidst the Cape Town water crisis.

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.

CT airport shooting attempted hit on gang boss allegedly linked to '28s' -expert

CT airport shooting attempted hit on gang boss allegedly linked to '28s' -expert

A policing expert explains that the airport shooting may be linked to the shooting at a Stellenbosch nightclub this past weekend.

Almost 30 million SA ID numbers compromised after site hacked

Almost 30 million SA ID numbers compromised after site hacked

Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.

Cape Town International Airport shooting could be gang related - ACSA

Cape Town International Airport shooting could be gang related - ACSA

The incident happened in the early hours of Wednesday morning.