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MyMoney Online

How to buy your very first share – even if you have mere cents to invest

13 January 2021 3:04 PM

You can buy R1 (or even one cent) worth of shares. "The key to getting started is to get started," says Charles Savage.

How much money do you need to start investing?

A lot of companies have minimum amounts that are prohibitive for investors of small sums of money.

One company that makes investing accessible is EasyEquities.

It has no minimum investment amounts and claims to have the lowest fees in South Africa.

pixabay.com

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The Money Show’s Bruce Whitfield interviewed Charles Savage, CEO at Purple Group Limited, owner of EasyEquities.

Minimums exclude about 95% of the market. We needed to abandon them…

Charles Savage, CEO - Purple Group Limited

You’ve got to invest a minimum of 15% of your income… if you’re in your 20s… If you’re old, then 15% won’t cut it… The longer you’ve got the less you need. Compound interest will deliver extraordinary results over time…

Charles Savage, CEO - Purple Group Limited

The key to getting started is to get started! … If you don’t understand anything… make a small investment… as you learn more, you can ratchet it up…

Charles Savage, CEO - Purple Group Limited

You can buy R1 of a stock [on EasyEquities]. The minimum is one cent! … R5 is half the price of a Coke! …

Charles Savage, CEO - Purple Group Limited

My youngest daughter is 12. She started investing using EasyEquities when she was 6… She talks intelligently about investing and the stocks she owns… She owns R5 or this and R10 of that… These kids are going to be wealthy beyond their wildest dreams!

Charles Savage, CEO - Purple Group Limited

My kids are savers, not spenders. In fact, they’re investors… When they get R10, they’re thinking about how to invest half of it…

Charles Savage, CEO - Purple Group Limited

For more detail, listen to the interview in the audio below [skip to 8:32 for specifics about EasyEquities].




13 January 2021 3:04 PM

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