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How to start saving and investing money

11 October 2019 12:08 PM

Unless you're über-rich, saving money is a must. But it’s not easy. Arabile Gumede talks to personal finance expert Warren Ingram.

(This interview took place on 1 August 2019.)

pixabay.com, 2019

Saving is 80% of how people become financially independent… [investing] is about getting your money to make money babies…

Warren Ingram, Personal Financial Advisor - Galileo Capital

Unless you are super rich, saving money is a must.

But it’s not easy.

So, how do you start?

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed personal finance expert Warren Ingram of Galileo Capital.

Ingram reckons that if you can save and invest 15% of everything you earn while working, you’ll probably be amongst the 5% of formally employed South Africans who can retire comfortably.

Listen to the interview in the audio below (and scroll down for more quotes from it).

An emergency fund should be in a money market account… It’s not your holiday fund… it’s earning interest. Every now and again recalibrate it to three months’ expenses…

Warren Ingram, Personal Financial Advisor - Galileo Capital

We’re panicky now… but it’s probably a great time to invest!... Be greedy when others are fearful… If you’ve got a longish timeframe you can largely invest your money in shares…

Warren Ingram, Personal Financial Advisor - Galileo Capital

Choose a rand-based overseas investment… buy the whole world. Everything from Nike to Adidas to Toyota in Japan… I would start with the world index…

Warren Ingram, Personal Financial Advisor - Galileo Capital

EasyEquities does it really easily…

Warren Ingram, Personal Financial Advisor - Galileo Capital

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11 October 2019 12:08 PM

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