MyMoney Online

Can you survive your own personal Brexit?

What's Brexit all about?

It’s all about economic independence. Britain being able to sustain a standard of living for all citizens on it’s own without depending on the European Union. It boils down to Britain being able to grow (GDP) on it’s own which will enable it to generate enough income (revenue) to cover costs (expenditure) and improve the standard of living of its people.

Click on the audio below to hear Paul's chat with Sam and Africa then carry on reading!

The big question you should ask yourself

Closer to home, Brexit brings to mind a number of pertinent questions... To what extent can you financially stand on your own two feet? How dependant are you on the bank and other money lenders? If there is a financial crisis will you need family and friends to bail you out?

Currently 47% of South Africans at 65 are financially dependent on family.

The way forward to your own financial independence is to have a plan that ensures you have sufficient funds in place to maintain your standard of living no matter what life changing event comes your way.

The journey to financial independence can be a tough one as you need to compromise at times. If your expenses are too high then you need to adjust your standard of living. The Brits will probably have to do this in the short term as they find out where their economy will eventually settle. From that level they can then make a plan for growth, working on key aspects of their own economy.

So what's your vote?

We all have a vote in our own lives which we can take. Go it alone and become financially independent or depend on others for the rest of our lives.

How to do it is no mystery? Finding the will to do it and then committing yourself is the what it takes. The Brits have taken the decision. Good luck to them as they embark on a journey to establishing their own financial independence.

Read more from Paul Roelofse at www.investforlife.co.za

Read More
3 hottest JSE stock picks of the week (by Cannon Asset Managers)

3 hottest JSE stock picks of the week (by Cannon Asset Managers)

These three shares are the best investments on the JSE right now, says Cannon Asset Managers Portfolio Manager Samantha Steyn.

Best investment on the JSE (and 2 offshore stocks to consider) – by Rand Swiss

Best investment on the JSE (and 2 offshore stocks to consider) – by Rand Swiss

Invest yourself rich! Rand Swiss Portfolio Manager Singa Gungqisa shares his stock picks of the week on The Money Show.

Hottest stock on the JSE right now (post-Cabinet reshuffle) – Vestact

Hottest stock on the JSE right now (post-Cabinet reshuffle) – Vestact

Looking for a hot tip? The Money Show’s Bruce Whitfield interviews Vestact Portfolio Manager Byron Lotter.

3 best investments in the world right now (by Mia Kruger)

3 best investments in the world right now (by Mia Kruger)

Hot tip alert! Mia Kruger of Kruger International Asset & Wealth Management shares her stock picks of the week on The Money Show.

3 JSE shares you should invest right now (by Momentum)

3 JSE shares you should invest right now (by Momentum)

Looking for a hot tip, or three? Here’s what Momentum Head of Investments and Savings Steven Schultz is buying...

Want to withdraw from your retirement fund? You’re not (even remotely) alone…

Want to withdraw from your retirement fund? You’re not (even remotely) alone…

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

Popular articles
"Mantash" or "Mantashed" - what this means and how to use it correctly

"Mantash" or "Mantashed" - what this means and how to use it correctly

The term coined on social media gets it's inspiration from Gwede Mantashe flip-flopping on his criticism of the ANC.

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

Pamela Nomvete on her downfalls as actress, and 'climbing back'

Pamela Nomvete on her downfalls as actress, and 'climbing back'

This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?