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Thread: How do you make financial decisions?

  1. #21
    Diamond Member
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    The best advice I ever got was to invest a small amount of money over a long period of time ... which I did (at 16 years old) I took out and endowment policey with Sanlam for R 80 in 1982 ... all it took was a crooked broker and I dont even have a cent to show for it ... just imagine what it would be worth today (2021) ... I dont trust anyone.

    Another concern with investing ... especially in SA ... been watching discussion with regards to the future of SA ... pension funds etc ... blatant theft of state funds ... R90 million unaccounted for by the health minister (Mkhize) and money being channeled to kids business.

    Are you investing in SA?
    Comments are based on opinion...not always facts....that's why people use an alias.

  2. #22
    Diamond Member Blurock's Avatar
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    Investing in a business or product that generates a residual income is ideal.
    After many years of R&D, trial and error and being done in by unscrupulous shareholders, I now have a product that does just that.
    A small amount generated every month adds up as the business expands.
    However, there is no free lunch. You still have to work at it to see that systems work 100% and that customers are satisfied.
    They are the ones attracting more customers for me.

    As a conservative investor, I would previously have patiently waited for the interest to add up to the higher amount at the end of the period.
    I have since realised that my pension would never be sufficient to live on, so I invested my pension in a business and today I am reaping the benefits.
    I will continue working until I'm 100 but I am enjoying it and I discover and experience new things every day.

    The alternative would be to sit on a stoep of and old age home and worry about the bank's interest rates.
    I just cannot imagine myself in that situation.
    Excellence is not a skill; its an attitude...

  3. #23
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    A friend of mine made quite a lot of money selling all sorts of laser cut stuff on consignment. He is a very religious person so many of the products were themed that way. His biggest client was a church that seemed to move a lot of his stuff. Sales tapered off and one day he went to the church himself to go and investigate (his employee would normally go to replenish stock) - When he got there he found that his rack was full of KNOCK-OFF stock made by somebody else. When he asked the church about this they said that the thought it would be OK because it is for a good cause (themselves) and that they paid the other guy less.

    The bottom line is still that no matter what you do to earn money - you have to keep an eye on it - there are always people who will happily take advantage of you.

  4. #24
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    "No matter what you do to earn money - you have to keep an eye on it" - Couldn't agree more on this buddy!

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