Tuesday, 30 July 2019

Monthly Update and a Cute Pony

End of the month means that it's time for you to hear from me. Yay for you (I hope :) )

It seems a lot has happened since we last spoke. Off the top of my head:

  • We have a buffoon of a public protector that can't seem to get anything quite right
  • Julius continues to shout at rich old people
  • Lots of court cases, interdicts and fighting
  • Reserve bank murmurings
  • We had a small rate cut (happy days if you have a mortgage)
  • Inquiries into capturing and government investment companies continued
  • and many more sad stories

I would be lying if I said that none of them make me nervous. I often think we are in big trouble. The problem is that I am worrying about the future. The future that I cannot predict and have zero control over.

So, I have planned to the best of my ability. Part of this plan is to write these monthly updates to anyone who will read them. It reminds me to continue with my plan and not make emotional short term decisions. Behaviour can be changed over time with small nudges. This is my nudge - to me and to you.

To recap, here is the plan:
  • Invest your money in real assets (property, shares etc - if South Africa goes south, ZAR cash isn't going to worth very much. I feel real assets have a better chance of maintaining purchasing power.)
  • Build an offshore store of wealth or investment portfolio (heck, if you want to leave, it can be the start of you saving towards one of those Visa's you can buy in some European countries)
  • Have access to offshore cash in hard currency (USD, EUR or GBP). If you need to get on a plane then you have some rent and food money.
  • Start meditating (I am serious). Learn to deal with stress/anger that uncertainty in South Africa is causing you.
  • Lastly, on a sunny African day go for a walk on the promenade at your nearest beach and wonder is it all really that bad...
And if that doesn't help, here is a picture of a cute pony to make you feel better.