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WELCOME TO THE JUST COMMON SENSE ALL-NEW BOLD! · USEFUL STUFF GOTTA HAVE IT JUST COMMON SENSE...
Transcript of WELCOME TO THE JUST COMMON SENSE ALL-NEW BOLD! · USEFUL STUFF GOTTA HAVE IT JUST COMMON SENSE...
USEFUL STUFF
GOTTA HAVE IT
JUST COMMON SENSE
FINANCEIN PERSPECTIVE
AUTUMN 2011
WELCOME TO THE ALL-NEW BOLD!Full of information and intriguing ideas that
we hope will inspire you to do great things!
BOLD is also available on our website in
isiXhosa, isiZulu, Sesotho and Afrikaans.
ROUND THE DINNER TABLE
INSPIRATIONAL PEOPLE
FRIEND TO FRIEND
IN LOVE WITH PROPERTY
ASK THE EXPERTS
WORKING OUT THE NUMBERS
17 − 70
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A FRESH POINT OF VIEW
HOW THE RICH GOT RICH
HOW THE RICH GOT RICH
Critics predicted an end to his success
when his conservative investing style
meant sitting out on the dotcom bull
market stampede. But the world’s
savviest investor’s time-tested strategy
proved yet successful again, and he had
the last laugh after the dotcom crash. His
simple investment principles have made
him arguably the most closely followed
and widely imitated investor in history. He
is also known for his dogged adherence
to the value investing philosophy and
also for his personal frugality despite his
immense wealth.
However, the majority of us aren’t
Warren Buffetts, and don’t have the
same legendary skills when it comes to
choosing the right investment. That’s why
Old Mutual has expert financial advisers
to help individuals assess their financial
needs and choose the most appropriate
investment solutions for them.
At the same time, Old Mutual Investment
Group’s 16 specialist boutiques have
the investment skills and experience
required to manage many different types
of investments, choosing the best-valued
assets for the long term, Warren-Buffett
style.
We recommend: The Warren Buffett Way: Investment Strategies of the
World’s Greatest Investor by Robert G. Hagstrom. By acclamation it’s the best
book written about Warren Buffett’s investment philosophy and techniques.
It details Buffett’s focus on brand strength, return on invested capital and
margin of safety.
Interested in reading more about Warren Buffett’s investment principles?
How the rich got rich: Warren Buffett
Warren Buffett is widely regarded as one of the most successful investment icons. He takes a simplified and long-term approach to investing, and cites his most important principle as understanding the business behind the stock.
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It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you’ll drift in that direction.
“”
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Pieter Hugo, MD of Old Mutual Unit Trusts, advises that to be successful, an
individual should employ these tried-and-tested investment principles:
Have a plan: The plan should determine your goals, current financial position,
planning horizon and risk profile. It is important to review it regularly with the
help of a licensed financial adviser, broker or corporate consultant.
Diversify your investments: A diversified portfolio will help to manage your risk. A
sound financial plan typically includes a balanced portfolio of investments (shares,
bonds, cash and property) spread across both local and international markets.
Take a holistic approach: In any diversified portfolio there will always be times
when one asset class outperforms another. Property may go up as shares come
down. It’s your combined portfolio’s total return over the longer term that
matters, not the performance of the underlying investments.
Think long term: It’s time in the market that counts, not timing the market. It
is far better to use time to your advantage than to try to time the market. The
sooner you can start investing, and the longer you can invest, the more likely you
are to make a healthy return – regardless of the ups and downs along the way.
Not just cash: Over the long term, cash is unlikely to deliver the returns needed
to outpace inflation. For the bulk of investors who have longer investment
horizons, a cash-only investment is unlikely to deliver an adequate return. It
needs to be supplemented with investments in other asset classes that offer
capital growth potential.
Ignore the daily ups and downs and invest regularly: By investing on a regular
basis over the longer term, you generally get the best return. If you are in the
market with the aim of building your long-term wealth, it is better to disregard
short-term performance fluctuations and to focus on your long-term goals.
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2.
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4.
5.
6.
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17 − 70
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In 17 − 70 we will deal with financial issues as they pertain to specific age groups. In this issue… the benefits of planning for retirement at a very young age!
17−70
You know how hard you have to prepare
for just about everything in life. You
prepare for exams and prepare for
meetings but have you ever thought
about preparing for your retirement?
You are fresh out of university and just
started out your career, taking your
first steps on the corporate ladder. You
are probably well aware that you have
to be financially prepared for when you
stop working one day. But you tend to
put it off to think about later… And yet
you often hear about how people often
fall short when they come to retirement.
Don’t let this happen to you.
Old Mutual’s new approach to retiring
well, PREtirement, is about planning and
realising that even the smallest steps in
the right direction can help you achieve
financial freedom when you retire. Simply
invest what you can afford, and let
compound growth do the hard work for
you. The sooner you invest and the more
you invest, the harder compound growth
will work for you.
The key is to start today.
Just R250 per month is enough to get
your Retirement Annuity started!
And this is how compound interest works:
Say you began investing at the age of 25 – and
invested R100 a month (with a built-in escalation
of 10% annually) – and, just for example, that
investment grew at 10% p.a. until you were 65
(a term of 40 years.)
Total premiums paid: R531 111.10
Fund value: R2 080 368.28
No wonder Einstein called compound interest
the 8th Wonder of the World!
PREtirement takes a fresh and easy approach to retirement
DID YOU KNOW?Old Mutual offers a range of solutions to fit your pre- and post-retirement needs,
no matter what age you are...
S
Here is some advice for investors who are starting a little later in
the game.
Say you started saving for retirement at a later stage, age 40. What
tools or advice is available to help you set aside enough “inflation-proof”
capital? And how does property compare to a managed retirement fund
in this regard?
As you don’t have that many years to go to retirement, it is important
to invest in assets that tend to give returns above inflation (e.g. shares
or property). The value of these can go up or down, but over a longer
period of time (i.e. more than 5 years) they should exceed inflation
(as history has shown us). It is generally recommended to invest in
a mixture of these asset classes as they don’t tend to go up or down
at the same time or with the same margin. A balance between assets
therefore could benefit you if, for example, share values go down for a
period of time.
Investing in an approved retirement fund adds the benefit of investing
smaller amounts into each asset class.
Investing in direct property can be beneficial, but requires significant
money. Property has given great returns over the last few years in
South Africa, but investing in a balanced fund can over time give similar
returns. It is important to remember that up to 15% of your income can
be deducted from tax if you invested in an in an approved retirement
fund. Another benefit is that your growth and income in an improved
retirement fund is not taxed either. These tax savings can be invaluable
realising the retirement you desire.
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Working out the numbers
WORKING OUT THE NUMBERS
For more information on PREtirement planning go to www.pretirement.co.za
These wheels will show you the power of compound growth and other possible future investment scenarios and solutions.
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ASK THE EXPERTS
Life insurance:Over the hill or just out of touch?
In order to get a better idea of which benefits you might need, why not take
a look at the benefits some happy GREENLIGHT customers have opted for.
The somewhat old-fashioned phrase of
“life insurance” is still what many people
have in their minds when they think about
personal cover. But there are modern,
innovative products that can offer you
much more than a payout if you die.
Much more importantly, they also pay out
if you live!
If you experienced a traumatic event like
a heart attack, for instance, or cancer, or
even a disabling accident… you need cover
that can replace your income if you can’t
work, pay for any gap left by your medical
cover… and help you make any unexpected
lifestyle changes. In short, cover that pays
what it promises – no excuses!
So how do you decide what you
need?
You need to consider that catering for your
needs is not an exact science. As your
future unfolds, your needs will change.
For starters, consider these commonly
used guidelines:
Consider your life cover first in order
to provide your dependants with an
income and funds to settle debt.
Now look at disability cover –
protecting your income for yourself
and your family.
Severe illnesses can strike suddenly
– and strike hard. So illness cover is
a very high-ranking priority too.
Consider a risk cover provider that puts
you first. GREENLIGHT is one such provider
and has a very specific philosophy, called
“Celebrate life.” Which, in short, means
that once you’ve taken care of all the
things you should do – starting with your
Personal Cover plan – you can get on with
the things you can do! And just like these
three steps, GREENLIGHT believes that
once you are covered, you’re free to enjoy
each and every day.
Visit oldmutual.co.za/greenlight to find
out more about GREENLIGHT Personal
and Business Cover.
HOUSEWIFE… OR HOUSEHUSBAND
Jana Williams is a 34-year-old housewife who has three children and a
husband who is working hard to establish a career. Jana also brings in a
little extra income by selling jewellery from home.
If something happened to stop Jana from working in the home the
family would need immediate help in terms of child care, shopping and
household management. If she were sick (even for a little while) they
simply wouldn’t be able to cope. If she died, her husband would need
permanent live-in childcare as well as domestic help as he would have to
work even harder to make up the income gap.
Jana needs:
1. Life Cover – Death Benefit and Final Expenses Benefit
2. Earning Ability Cover – Daily Tasks or Daily Tasks Income Benefit
3. Lifestyle Adjustment Cover – Severe Illness (Comprehensive) Benefit
4. Future Needs Cover – Future Cover Benefits (Core)
YOUNG AND SINGLE
Steve Thompson is a 25-year-old marketing graduate who lives alone
and works for one of the big retail stores. He rents his home and does a
lot of business travelling, plays sport, and gets away for a break every
chance he gets.
Steve is completely reliant on his income. If he can’t work he can’t play
(and even more importantly, wouldn’t be able to support himself).
Steve needs:
1. Life Cover – Final Expenses Benefit
2. Earning Ability Cover – Temporary Income Benefit and
Comprehensive Disability Benefit
3. Lifestyle Adjustment Cover – Severe Illness (Core) Benefit and
Retrenchment Benefit
4. Future Needs Cover – Future Cover (Comprehensive Benefit).
In addition, as Steve is often away, he should call GREENLIGHT CARE 4U
to link up to ADT.
PARTNERED/MARRIED – NO KIDS
Pumie and Sipho Kamagu are a young couple who both work as
teachers. They are getting married soon and have plans to buy a home.
Pumie and Sipho are making future plans and the input of a good
financial planner here is critical. They have a lot of goals and need to
separate them into short-term, medium-term and long-term. They also
need to draw up a marriage contract before they get married.
Pumie and Sipho need:
1. Life Cover – Death Benefit and Final Expenses Benefit
2. Earning Ability Cover – Comprehensive Disability Benefit
3. Lifestyle Adjustment Cover – Severe Illness (Comprehensive) Benefit
4. Future Needs Cover – Premium Protection and Future Cover Benefits
In addition, they could call GREENLIGHT CARE 4U to connect with a
legal adviser.
MARRIED/PARTNERED WITH CHILDREN – OWN BUSINESS
Tanita and David April are married and have two children – aged seven
and ten. Tanita works as a secretary and David has his own hardware
store (Tanita helps in the evenings with the admin work).
With children to educate and a family to provide for – as well as a
business to run – these two have their hands full and can’t afford any
risk. They are doing their best to reduce debt and to pay off their home.
Tanita and David need:
1. Life Cover – Death Benefit, Accidental Death Benefit and Final
Expenses Benefit
2. Earning Ability Cover – Occupational Disability (Own) Income Benefit
3. Lifestyle Adjustment Cover – Extensive Illness Benefit
4. Future Needs Cover – Premium Protection and Future Cover Benefits
5. Business Cover – Business Contingency Cover and Business
Overheads Replacer Cover
In addition, as David’s vehicle is essential to his business, they should call
GREENLIGHT CARE 4U to find out more about Tracker vehicle tracking.
MARRIED/PARTNERED – NO CHILDREN IN THE HOUSE
Alan Jones and Sharmila Singh are in their late forties and are both
divorced. They each have grown-up children who are no longer
dependent. They both work and are at the peak of their careers, earning
good income. They are paying a joint bond.
Alan and Sharmila have commitments to extended families but are
putting any spare cash into bulking up their retirement planning with
hopes of a year-long round-the-world trip.
Alan and Sharmila need:
1. Life Cover – Death Benefit and Final Expenses Benefit
2. Earning Ability Cover – Comprehensive Disability Benefit
3. Lifestyle Adjustment Cover – Extensive Illness Benefit
4. Future Needs Cover – Premium Protection Benefit
As they are also looking at buying a second home to produce additional
income, Alan and Sharmila should call GREENLIGHT CARE 4U for legal
advice around a lease agreement.
RETIRED – PARTNERED OR LIVING ALONE
Marita van Wyk and Helene Brown are friends and neighbours. Both are
widowed and both have retired. They are planning to sell their houses
and pool their resources by buying a shared home outright.
Marita and Helene both need:
1. Lifestyle Adjustment Cover – Extensive Illness Benefit
2. Life Cover – Final Expenses Benefit
Most importantly, they need to contact GREENLIGHT CARE 4U to link up
with security experts to make their new home as safe as possible.
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IN LOVE WITH PROPERTY
S
top tips for property investors
“I have 7 pieces of advice
for people contemplating
property as an investment,
all of which have been tried
and tested in the market and
in my own career.
”
Accept that property is always a long-
term investment with ups and downs.
If you are out for a quick buck, you
will not find it in property.
Do not rush this process: avoid the temptation of buying many
highly-bonded properties. Rather buy one and gear it correctly
before you move on to the next purchase. Later, as your income
increases, it may be possible to buy more than one property at
a time.
Diversify your portfolio. Try to invest in
both freehold and sectional title residential
property, as well as small commercial and
industrial units. Try also to avoid being
in one area. The markets fluctuate:
if you are spread wide this will
cushion the rises and falls.
Accept that your own home is
part of your portfolio. Too often,
as salaries increase, so does the
desire for a bigger and better home,
resulting in huge bond repayments.
Rather have a moderate home and
save by having a small bond here and
use the spare cash to buy elsewhere where
you will earn rent.
Unless you face financial disaster, do not sell. The ancillary costs
of buying and selling are high. You will have capital gains tax,
agent’s fees, transfer and conveyancers’ fees – all of which will
eat into your profit.
Focus on income rather than capital growth. The more
cash you can actually collect monthly, the better your
chances will be of buying elsewhere. Focus on the cash
and the capital growth will look after itself.
Set yourself the goal of building up a property
portfolio which you expand steadily. Do not sell
your investment property, even to buy another.
1.
3.
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7. 2.
75.
by Tony Clarke
Become aproperty magnate
overnight
For most, the first (and only) investment
in property is buying a home, but to
become a true property magnate you
need to invest in commercial property too.
This means putting some “eggs” into
retail (shopping centres and hotels),
industrial (warehouses and industrial
parks) and office blocks. Becoming a
property owner on this scale requires
millions of rand… but there are ways
of doing it without having to sell the
family silver.
1. Buy property shares. Major
property companies, who own large
commercial property portfolios, are
listed on the JSE. By buying their
shares you are effectively buying into
all the properties they own. When you
buy Growthpoint shares, for example,
you get your stake in, among others,
Pretoria’s Brooklyn Mall – and
soon you could be adding the V&A
Waterfront to your portfolio!
2. Or you can invest in property unit
trust and you will not only be
investing in a range of different
listed property companies, but you
have a professional property analyst
researching and selecting these
companies for you too.
For those who don’t already have a share
portfolio, unit trusts may be the simpler
investment route, as their minimum
investment amount is R500 a month.
We’ve all heard the mantra “don’t put all your eggs in one basket”, but the dilemma many of us face is how to apply this to the property market.
WHAT’S THE BIG APPEAL?Property’s investment appeal is mainly due to the stable, growing income
it provides (paid as dividends to shareholders), plus the possibility that the
value of the property may go up over time. Income is mainly generated by
rentals, based on long-term lease agreements. A long-term lease means an
ongoing, steady income and tenants are unlikely to hand in notice during
economic downturns.
For more information on investing in a property unit trust,
visit www.omut.co.za or call 0860 234 234.
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FRIEND TO A FRIEND
S
A few things to keep in mind for successful investing in 2011
With South African interests
rates sitting at their lowest in
36 years and the uncertain
economic conditions around
the world, it is important
to remember a few key
investment principles...
The first being diversification, or,
not putting all of your eggs in
one basket. The second equally
important principle is to maintain a
long-term perspective, as too often
we are mislead by the impulses
associated with the “normal” ups
and downs of the markets.
“
”
“For those with jobs, we have a generally positive outlook for 2011,
says Peter Brooke, Head of Macro Strategy Investments (MSI) at
Old Mutual Investment Group SA (OMIGSA) who goes on to say
that they anticipate that interest rates will remain stable and that
we should see an increase in economic growth.
One caution however is that investors looking for a regular income
may find the going tough. This is the result of the “safer options”
like cash, which are often favoured by investors, offering lower
returns than in previous years. One solution is to spread your
investments into diversified solutions. Ask your financial adviser or
broker about solutions that are less dependent on interest rates to
overcome this.
As always though, it is important to assess your risk profile before
any investment decision so that you and your adviser can make a
more informed choice.
And lastly, our experts have placed particular emphasis on active
management, which basically means choosing a fund manager
who is always working to get the best return in changing market
conditions. And with various OMIGSA fund managers standing by,
why not make use of an expert to ensure that your investment is
working as hard as you are this year.
If you require a steady income this year and/or have most of your savings tied up in cash investments like money
market funds, it would be wise to try and save more and withdraw less. This may seem obvious but a little extra saved
here and there will help combat the fact that these funds are receiving a lower yield than in years gone by.
That said, if you can tolerate a bit more risk there are more diversified options available to you. Such as the Old
Mutual Real Income Fund which invests across cash, bonds, listed property and equities. As always it is advisable to
chat to your financial adviser about having them actively manage this fund for you.
Can you tolerate a slight risk on your investment? You might want to consider a balanced fund. These are diversified
funds and due to their exposure to growth assets proved popular in 2010. A long-term approach, coupled with
investment in such a fund could see healthy rewards with limited risk.
Depending on your situation and your investment preferences you may be happy to take more risks with the aim to
make a higher long-term return. With this in mind you may want to choose more aggressive funds that focus
on precisely that – such as the Old Mutual Flexible Fund. This fund takes full advantage of a diversified
asset holding which means that the “ups and downs” of the market will be felt considerably more than
those lower-risk funds. However, their higher exposure does mean that they often offer the best long-
term returns.
Low Risk
ModerateRisk
Higher Risk
The outlook for your risk profile:
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INSPIRATIONAL PEOPLE
S
Gareth Cotten is a man with a mission – to enable success
through entrepreneurship and financial education.
He hit the ground running and started his entrepreneurial journey
at the age of 12, selling black bags in his neighbourhood. At
university he started a successful limousine company, with just one
car. And he now has a string of businesses under his guiding hand.
What drives him? “Personally, I want
to build a legacy – an empire – but
one that transcends what I can do
as an individual. I want to be an
inspiration to other aspirant financiers
and entrepreneurs out there – to show
them that anything is possible.”
Some advice for budding
entrepreneurs… above all, watch your
cash and your finances!
Try not to offer too much credit and
never be afraid to ask to get paid.
Know your business needs – and be
sure you have tailored your specific
budget accordingly. (A freelancer
at home, for instance, will have
completely different needs to a factory
with many workers.)
Estimate your income – by working
out how many products or how many
hours or days of your services you
typically sell.
Calculate expenses – fixed expenses
that you pay every month, and
which don’t change from month
to month (like salaries, bond
payments, insurance fees); variable
expenses that you pay regularly
but that can vary each month (like
utilities, transport costs, stationery,
marketing). And don’t forget yearly
expenses (like annual insurance) that
you should divide by 12 to get to a
monthly overview.
Review and adjust your finances on a
regular basis – once per quarter is a
good starting point.
Gareth Cotten is a successful
entrepreneur who runs his own
financial coaching practice and is the
convener of the UCT Basics of Financial
Management course as well as the
Start and Manage a Small Business
course, which is run in conjunction
with Getsmarter. He is also a regular
blogger on Moneyweb.
Go to http://www.ombold.co.za/contact-us/ and tell us who you think is an
inspirational South African and we’ll interview them so as to share their story
with all of our readers.
South Africa is full of inspirational people – in sport, in
business, in arts and theatre... In every issue we look at
one such person and find out what makes them tick... in
this issue, meet Gareth Cotten.
ROUND THE DINNER TABLE
S
A SMOOTH RIDEWe all know that investing or saving money is key to building wealth and achieving the goals we have set in life. But there are so many investment and savings products out there, so where do we start?
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Ok, let’s say that your goal is
to grow your savings. But you
don’t want to take unnecessary
risks. Or perhaps you don’t mind
a bit of risk but are worried that
you will panic if the markets are
down. (Fear and greed are the two
biggest problems in meeting your
investment goals.)
The answer may be a smoothed
fund. Smoothed funds let you
sleep easy because they protect
you from the usual ups and downs
of the markets – which means you
are less likely to stress and more
likely to achieve your goals. And
you’ll still make a return. In other
words, a best-of-both solution that
gives you stability and growth.
This is done by retaining some of the
returns during good times so as to
soften the blow during bad times.
Smoothed funds are an excellent
way to achieve your investment
goals without the worry usually
associated with investing and
they provide good risk-adjusted
returns. They allow you to benefit
from the potential of growth assets
such as equities and property, but
with significantly lower risk than is
normally associated with investing
in these asset classes.
Incidentally Old Mutual’s smoothed
funds have, on average, exceeded
inflation by between 4% and 6% per
annum since inception in 1984. An
amazing result and a sure fire way
to get your investment off to a great
(and safe) start!
MARKET RELATED RA
SMOOTHED BONUS RA
SA INFLATION
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JUST COMMON SENSE
S
Shop smart
15%
Smart shopping can earn
you as good a return as
clever market investing.
For instance, if you need
to buy a new car for
R200 000, saving 15%
on that car purchase is
worth more than earning
15% on a R200 000
investment, since your
investments are taxed
and your savings are not.
Then you can invest
that saving and earn
the return again.
The all-new Flip Ultra HD video camera.
The all-new Flip UltraHD video camera,
now with image stabilisation and a
new slimmer design, combines Flip
Video’s signature shoot-and-share
simplicity with better-than-ever HD.
Simply power on and press record
to start capturing up to two hours
of incredible HD video. When you’re
done recording, just connect the
flip-out USB arm to a PC or Mac and
use pre-loaded FlipShare software to
organise, edit and share your videos.
The new UltraHD also works with
Designed for Flip products, a new
expanded accessory line from Flip
Video and partner companies.
Gotta have it!
WIN ONE NOW! http://www.ombold.co.za/competition
C O M P E T I T I O N
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Useful stuff
USEFUL STUFF
Do you want to update your email address? View your portfolio?Go to MyPortfolio where you can register for our free and secure online service. You can view your entire Old Mutual portfolio at any time and update your personal details at no charge to you. To register, go to www.myportfolio.co.za Do you want to find out more about our products?Our product and service solutions take into account what our customers need and deliver this through our collective skills, years of experience and our value-driven people. You can learn more about our offerings at www.oldmutual.co.za/personal.aspx Do you want to comment on any of the articles in BOLD?We value your opinion and suggestions for future issues. Please send your feedback to BOLD by visiting [email protected]