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Mike Schussler on investing his money and leaving the restaurant business

9 September 2019 8:22 PM
Tags:
Mike Schussler
Make Money Mondays
Bruce Whitfield sits down with Economists.co.za's chief economist Mike Schussler about his attitude towards money.

Economists.co.za's chief economist Mike Schussler is possibly one of South Africa's best known economists.

He joined Bruce Whitfield in studio for this week's Make Money Mondays to chat about his relationship with money.

Born in Cairo to German parents - an engineer and scientist, Schussler says his family was lucky enough in terms of their financial status .

We had a very good middle class upbringing in South Africa, obviously quite lucky in every aspect.

Mike Schussler, Chief economist - Economists.co.za

Being an investor, Schussler says he does not have the detailed knowledge or time to look any companies so he has opted for a financial adviser.

I think that is the more sane thing if you are not involved and close to it.

Mike Schussler, Chief economist - Economists.co.za

We have some very good investment managers.

Mike Schussler, Chief economist - Economists.co.za

I want to be more conservative now, I am uncomfortable with where the markets are and uncomfortable when trade wars start happening. This is not the time to bet the house on the equity markets...

Mike Schussler, Chief economist - Economists.co.za

Schussler says his best money decision was getting out of the restaurant business in 2001.

Restaurants kill people and not just financially, you will work yourself to the bone.

Mike Schussler, Chief economist - Economists.co.za

It was quite a scary experience, in a sense it took a while to build the restaurant then you find out that you have people in management that will fire a person working at the restaurant for stealing a chicken, a few months later you find out the person running your restaurant is stealing a lot more.

Mike Schussler, Chief economist - Economists.co.za

Click on the link below to hear the full interview...

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This article first appeared on 702 : Mike Schussler on investing his money and leaving the restaurant business


9 September 2019 8:22 PM
Tags:
Mike Schussler
Make Money Mondays

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