How To INVEST In Your 20's To Retire A MILLIONAIRE In South Africa

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So, you recently finished studying for your degree, you finally have that title next to your name, and you are so flippen excited to earn your first salary! You feel confident about life, you believe you are an adult now, and just as you enter the real world, you get klapped silly by life and all its money traps. You thought school prepared you for this? Ah my sweet, sweet, innocent summer child, you’ve got so much to learn…

There is a famous saying that goes something like this. In school, you had to learn before being tested. In real life, you get tested and then you learn from it. And this couldn’t be more true for someone who either recently graduated university and is about to start with their career or someone who went into the workforce directly after high school. Doesn’t matter which one you are, chances are you were not adequately prepared for life. I wasn’t, and no one that I personally know was. I am now at the ripe old age of 26 years, and you can bet I made many financial mistakes and fell for many financial traps in my long working career.

So in today’s video, I want to share my age old wisdom of everything that I learned in my twenties when it comes to money, give you a step by step guide on where you should start and what you should focus on, and explain why each step is so important. There are many of these types of videos on YouTube, but I couldn’t find one that actually helps South Africans, as most of these are focused on a US audience.

So, if you are in your 20’s, or even 30’s, and you have no idea how to manage your finances, or you may already know a bit but would like to sharpen your knowledge, then I can promise you that this 15-minute video will change your life. Or it won’t. It’s 50 50. Works half the time, every time! ;)

Youtube Chapters:

00:00 Introduction
02:28 Step 1: Make sure you are properly insured
04:08 Step 2: Track your expenses
05:49 Step 3: Live below your means
07:15 Step 4: Pay off your debt
10:04 Step 5: Build an emergency fund
11:08 Step 6: Invest in a Tax Free Savings Account
14:07 Step 7: Grow your emergency fund
14:46 Step 8: Contribute towards a Retirement Annuity
16;:13 Step 9: Contribute towards direct offshore investments
17:16 Step 10: Rinse & Repeat

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DISCLAIMER

The information shared by Money Marx is for educational and informational purposes only and should not be taken as Financial, Tax, Legal, or Investment Advice. While Pieter de Villiers is registered under the Financial Sector Conduct Authority (FSCA) and operate within the framework of the Financial Advisory and Intermediary Services (FAIS) Act, the content provided on this channel, in courses, and across all platforms does not constitute Personal Financial Planning or Advisory Services.

All information is general in nature, based on factual data, principles, and publicly available information to help South Africans improve their financial literacy. Past performance is not a guarantee of future results, and all investments carry risk. You are responsible for your own financial decisions. For advice tailored to your personal situation, please consult a qualified Financial Planner that is registered with the FSCA.

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