There is an age-old question we all find ourselves asking. How can I better provide for my family? How can I enable financial freedom for the long term? Every household longs for this freedom, but sadly (and unnecessarily) very few succeed.
In fact, 95% of South African’s are far from financial freedom – spending more than they earn each month. This, coupled with an increasing local tax economy, makes investing a sore point for many. However, in the spirit of Freedom Day, I felt it critical to share some incredibly simple and smart investment strategies, that could significantly change the way investments work for your family, looking to increase your ability at long term financial freedom.
So, let’s discuss these strategies. First and foremost, acknowledge that a few financial sacrifices must be made. Choosing an investment over a holiday for example, is hard, but even just one or two of these decisions can reap significant financial reward – long term. Secondly, understand that the opportunities and structures to investing are changing significantly. ‘Independent investors’ – professionals, like you and I, not necessarily trained at investments, but wanting to take control over their own portfolio, in an independent environment, to make clearer and better informed decisions – is a growing and successful trend locally and internationally.
This investment trend has been driven largely by the digital age which has allowed for digital investment platforms. These digital platforms enable real time investment decisions, changes and adaptations, based largely on the economy and on having a full view of one’s financial, consolidated portfolio (including all personal documentation, for easy access and legal requirements) – in one secure place. In simple terms, a viable investment platform must make complex financial solutions, simple. Choosing the right investment platform therefore becomes another critical cog in the financial freedom investments wheel. Make sure the platform you choose is reliable, has shown viable results and is backed by significant financial institution investments locally.
These digital investment platforms should allow you sight of where your money is going, provide a clear view of what you are working towards and how your investments are growing. This will enable you to access your financial portfolio and investments at any given time, which will help you to make more informed adjustments to your investments and identify other financially viable areas of investing.
Managing your investments no longer needs to be at arm’s-length. And you don’t need a financial qualification to make informed investment decisions about what’s best for your family and financial freedom. Look to utilise a platform that provides proactive, objective information, and empowers the independent advisor. Making the right – no matter how big or small – investment decisions today, can significantly improve your financial freedom. So, take a step in the right direction, and at least invest in investigating a wealth and investment management platform. Future you will be so happy you did!