WARREN INGRAM: Simple tips for making wise investments
Living within your means and finding the right place to stash your savings are the key steps to financial success
A SOUND game plan is the key to successful investing. Sure, you could throw your money into a variety of savings and investment vehicles and hope for the best, but a solid plan is far more likely to reap larger rewards. UBS Wealth Management in Switzerland studied the difference in the wealth of people who are good planners versus those who are not. It found that if you don’t budget and you don’t have investment and retirement plans, you are guaranteeing that you will limit your wealth over your lifetime. The report also shows that even a small amount of planning can make a massive difference. Too many people get to the week before payday and find they have more month than money left over. You need to budget, and you need to stick to it. And part of your budget must be planning to save something — and you should save your money at the start of the month, before you spend the rest. A good budget should be very simple and, more importantly, realistic. Don’t start with what you should ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.