The Personal Finance series with Warren Ingram

Investing in tax free saving accounts? Make it a long term investment

When investing money, people try to spread out their investments as much as possible. Thus in the event of something going wrong with one investment, you do not lose all your money. But can you over-diversify your investments?

Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital says diversifying your money as much as possible is not always the best decision.

A lot of the time, the temptation is not to have all of our eggs in one basket, so we but every basket we possibly can - and we fill it as much as we can. That is not always rational.

Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital

What is important to note about a tax free saving accounts is they can hold an index tracker, they can hold an exchange traded fund fund, it can be a unit trust. So you are not restricted just to one type of investment in a tax free saving accounts.

Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital

When you are thinking about investing into a tax saving account, Ingram says its good not be too diversified. But you should have sufficient diversification.

If you are putting money into tax free saving, make it a long term investment.

Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital

It shouldn't be something that just generates interest for example, which is in a really short term - one to three year investment. You're looking for five to 10 year investments, which means largely shares.

Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital

Listen to the full conversation below:

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More

Tourism industry welcomes back ‘well-liked’ Minister Hanekom

Arabile Gumede interviews Tourism Business Council of South Africa CEO Mmatšatši Ramawela.

[LISTEN] Standard Bank apologises for mobile and internet banking being down

Standard Bank's Sibongiseni Ngundze, explains what happened and says branches will stay open until the last customer is served.

5 big money mistakes young people make

Arabile Gumede interviews Sugar Creek Wealth personal finance expert Gerald Mwandiambira.

Banks have R180 billion exposure to land as collateral

Arabile Gumede talks to Cyril Mbatha (Unisa Graduate School of Business Leadership) and Cas Coovadia (Banking Association of SA).

FUL: If Nxasana's settlement is unlawful, Abrahams appointment is invalid

Freedom Under Law argued in the ConCourt why National Prosecuting Authority boss Shaun Abrahams appointment was unconstitutional.

South Africa is the 71st (out of 180) most corrupt country in the world

Botswana (34th) and Namibia (53rd) are squeaky clean in comparison. Bruce Whitfield interviews ENS Africa's Steven Powell.

Popular articles
'Basetsana Kumalo explained to me that this was the worst week of her life'

'Basetsana Kumalo explained to me that this was the worst week of her life'

Social Media Law Expert, Emma Sadleir, says the Randburg court has issued a protection order for the Kumalo's.

A third Metrorail train goes up in flames in less than a month

A third Metrorail train goes up in flames in less than a month

Regional manager, Richard Walker, says there's an indication of arson in all three incidents but the motive is still not clear.

'Cyril Ramaphosa is the weakest president of the ANC since 1994' - analyst

'Cyril Ramaphosa is the weakest president of the ANC since 1994' - analyst

Political analyst Prince Mashele talks about the ANC NEC meeting contradicting messages stemming from this.

Max du Preez opens up about money (and losing everything on Vrye Weekblad)

Max du Preez opens up about money (and losing everything on Vrye Weekblad)

The Money Show’s Bruce Whitfield interviews the famed and fearless journalist about his money history, hopes and beliefs.

2 best companies on the JSE to invest in now (by Nefg Fund Managers)

2 best companies on the JSE to invest in now (by Nefg Fund Managers)

Not sure which shares to buy? Bruce Whitfield interviews Gerbrand Smit, Chief Investment Officer at Nefg Fund Managers.

Malema under fire after 'Indians are racist' comment

Malema under fire after 'Indians are racist' comment

SA Institute of Race Relations media head Micheal Morris says politicians must be cautious of such divisive statements they make.

[WATCH] Eusebius Mckaiser: I call BS on Malema's racism targeting Indians

[WATCH] Eusebius Mckaiser: I call BS on Malema's racism targeting Indians

Show host Eusebius McKaiser says EFF's leader Julius Malema's comments on Indians are grossly unacceptable and irresponsible.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Stage 1 load s​hedding has been declared nationally. The City of Cape Town has urged residents to take note of the schedules.

Man who dumped body of family dog in street demoted at top JHB law firm

Man who dumped body of family dog in street demoted at top JHB law firm

Media law guru Emma Sadleir warns employees online that there are many potential events that could bring a company into disrepute.