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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 3841
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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To whom it may concern. Im a 30 year old male. Ive recently

Resolved Question:

To whom it may concern.
I’m a 30 year old male. I’ve recently bought a small flat and I’m already paying R1000 extra on my bond every month. I have a pension (R1300pm) and provident (R1700pm) fund. I’ve paid my first car in full and I’m paying my last instalment on my bike in August. I have no other debts.
My question: After my last instalment on my bike and possible increases in August I will have about R7000 extra pm. How do I apply this money wisely?
• Save and buy another apartment.
• Unit trusts?
• Do I bump up my pension?
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.

rakhivasavada :

Dear Friend,

rakhivasavada :

Hello and welcome...

rakhivasavada :

Kindly remain online for a while as I prepare your reply.

rakhivasavada :

Can you please tell me which place you belong to ?

Customer:

What do you mean by place?

rakhivasavada :

Which country / city you belong to ?

Customer:

Gauteng South Africa Centurion

rakhivasavada :

ok.. fine.

rakhivasavada :

From what I see from your question, at the age 30, you have enough invested in pension already. With age on your side, I would advice you to take alternate path. The best option would be to go for unit trusts. Though the investments would be market linked, you can certainly plan for a long term unit trust investments and have higher returns as compared to bank deposites

rakhivasavada :

deposits

rakhivasavada :

If you find investing entire 7000, in Unit Trusts little risky, you can invest 60% of them in units and invest another 40% in term deposits saved for later use.

Customer:

Okay, so you recon investing in more property is not worth it?

rakhivasavada :

No, it is certainly worth it. But you will need to invest your money i.e. 7000 per month somewhere so that it can get accumulated while earning decent returns

rakhivasavada :

You have one more option. If you can get property on mortgage whose monthly mortgage repayments works out to your monthly surplus, you can certainly go ahead purchasing property.

rakhivasavada :

You will have rental income as well.

rakhivasavada :

Are you there ?

rakhivasavada :

My botXXXXX XXXXXne advice is --- you should not bump up your pension. You already have enough invested there.

rakhivasavada :

Hello are you there ?

Customer:

That is exactly my question, Will it be better to invest in unit trust or buy a small flat (if I get the finance). Some people told me that the SA economy does not favour unit trust any more.

rakhivasavada :

If you are getting finance - buying property would be the best and most preferred option in any case.

Customer:

Thank you very much. I know I’m going to think of something I should have asked you. But that seems to be it for now.

rakhivasavada :

Is there anything more I can help you with ?

rakhivasavada :

I am sure this would help.

You may please leave a positive rating if this helps as that is the only way we receive credit for assisting you. Alternatively feel absolutely free to revert with more queries if you have. You will have options to add bonus if you so wish.

Warm Regards

Customer:

Haha. . .any clever tips regarding finance you could give would be appreciated, otherwise I’m thankful for your advice.

rakhivasavada :

That is precisely I gave you my dear friend. I told you NOT to bump up your pension, and advised you to go for property if you get it on finance.

rakhivasavada :

Is there anything more do you expect ?

rakhivasavada :

may please leave a positive rating if this helps as that is the only way we receive credit for assisting you. Alternatively feel absolutely free to revert with more queries if you have.

Warm Regards...

Customer:

No I’m good, thank you.


Have a lovely day.


 

Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 3841
Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
Rakhi Vasavada and other Finance Specialists are ready to help you
Expert:  Rakhi Vasavada replied 1 year ago.
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