Stealthy Wealth Profile picture
Aug 20, 2019 16 tweets 4 min read Read on X
[Thread]

Top personal finance tips from the experts
"Be like Buffett and keep 1 address. Avoid the hefty costs of moving"
@brucebusiness
"The most important financial decision you'll ever make is to keep your lifestyle expenses low"
@kristiavh
"Before you develop spending habits build investing ones"
@CharlesHSavage
"If you desperately want the new car smell, you can buy it in a spray can"
@SimonPB
"If you like money, respect it by at least knowing what you do with it!"
@mayaonmoney
"Buy a cheap, reliable two year old car and drive it until it's no longer cheap and reliable. Repeat."
@worldisee
"Identify whether something is an asset and make sure you own lots of assets"
@zamarcashton
Those that understand compound interest will earn it and those that don't understand compound interest will pay it. Therefore always try to ensure that you are debt free.
@WarrenIngram
"The best investment you can make is in paying down debt"
@MichaelJAvery
"The most important thing for me is to develop a deep understanding as to what money represents in your life"
@etfenthusiast
"Commit to the hardest thing known to mankind - patience"
@alechogg
"I would probably default to one of Bogle's lessons. Be an Investor not a speculator"
@GarethStobie
"Whatever you do, never cash out your pension when you change jobs."
@janamarais
"When you have the right plan covering every area of your financial life, you can balance what you need and want today with the personal goals you have for the future."
@TheDisruptorsZA
The full article with all the tips and more is over here
stealthywealth.co.za/2017/08/top-ti…

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More from @stealthy_wealth

Oct 31, 2020
Some 1-Page personal finance cheat sheets

1. How to achieve financial freedom
2. Asset Classes
3. ETFs
4. TFSAs
5. Investing jargon buster
6. IDEAS to get your finances in order
7. How Tax works
8. RAs vs TFSAs
9. Successful investing

[THREAD]
How to put together a plan to achieve financial freedom
Asset classes cheat sheet
Read 10 tweets
Sep 26, 2020
Top Tips for buying and financing a car

[Thread]
1. Negotiate the price

Whether you buying new or second hand, from a dealer or privately, the price is always negotiable.

Always ask if that is the best price they can offer, then shop around, compare and negotiate
2. Don't blindly accept dealer finance

The finance the dealership offers is seldom the best deal. Always go out and get quotes for finance yourself.

Start with your own bank, but also ask at the other banks as well.
Read 7 tweets
Sep 19, 2020
Okay, time to adult...

What are RAs and how do they work?

[THREAD]
#1 RAs In a Nutshell

A RA (Retirement Annuity) is basically an investment account which holds some investments.

You can put Unit Trusts, ETFs, or even Cash Inside an RA, and these investments will be protected from Tax
while inside of the RA.
#2 Are There Minimums?

Some providers will expect a minimum lumpsum or monthly contribution. But there are some RAs which have no minimums - so if you want to start small you can.
Read 10 tweets
Aug 27, 2020
At a training course which I attended a few years ago, the course facilitator told us a story which went a little something like this…
An experiment was set up by putting 5 monkeys into a room which had a trapdoor in the roof.

In the centre of the room, directly below the trapdoor, a ladder was placed.
The scientists then lowered a banana from the trapdoor in the roof. Immediately, one of the monkeys spotted the banana and headed up the ladder.

As soon as this happened, the scientists sprayed all the monkeys with ice cold water. The monkeys were obviously less than impressed.
Read 25 tweets
Aug 22, 2020
How to Hack A Home Loan

[Thread]
A R1 Million Bond at prime (7%) will have an installment of R7,753/month.

Paying the minimum results in a monthly payment for 20 years (240 months) and an interest bill of around R860k.

So how do you reduce the length and the interest bill?
1. Have a deposit

A 10% deposit reduces the bond amount to R900k.

- Monthly payment R6,978 (~R775/month less)
- Total interest bill is ~R775k (R86k less!)

A deposit is also a great way to improve your chances of getting a bond approved and can help you negotiate a better rate
Read 9 tweets
Aug 4, 2020
When you buy the Satrix MSCI World ETF, this is what you are getting.

[Thread]
The ETF invests in 23 different countries. This means your investment is spread all across the globe giving you geographical and currency diversification.
Your money is invested in the top companies in the world run by some of the world's best business leaders. A lot of these companies are household names - e.g. Apple, Amazon, Visa, Nestle.

The ETF invests in over 1600 different companies, so you get massive diversification
Read 8 tweets

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