Episode description
Episode description
In today's episode, Warren Ingram delves into the essentials of starting a financial journey for young family members, navigating through options like endowments, retirement annuities, and tax-free savings accounts. We explore the strategic timing and benefits of offshore investments, including phased investments for long-term growth and retirement planning.
Questions/ Topics:
- "I'm thinking of investing money offshore, like taking money directly offshore and investing it there for the long term in equities. The reason that I want to do that is to be able to have some money to be able to purchase a house in cash when I retire, which is going to be in about 20 years. I'm not going to need this money for anything else. Would you say that's a good idea or is there something else that you'd advise? Thank you."
- "I'm lucky enough to be an aunt with a niece and nephew and I'd like to invest roughly about 250 Rand each a month for them. Everything I've looked at online shows that only if you're the guardian or the parent you can open up an investment account. The thing is I'd like to be able to have control over it, receive statements every month, see how things are growing, to see if I need to change anything about it. Let me know. Is the only option to set something up through the parents?"
For more valuable insights from the 10X team, click here.
Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod