MyMoney Online

Personal Finance: Invest in your health and wealth

You probably will have to work for the rest of your healthy life. The problem of living too long is increasing exponentially at such a fast rate as we keep on improving health care technologies and focusing more and more on healthy living. This means that we need more money to maintain our lifestyles for longer.

At some stage of your life, sooner than later, you should be working because you want to and not because you have to.

There are two areas of your life that need to be in check to support you in maintaining your lifestyle: Health and wealth.

So your investment strategy should take on a two prong approach:

1. Saving as much as possible for as long as possible. The returns on your savings should be reinvested to take full advantage of compound interest. The magical formula for financial success. You want to arrive at a point where your investments can produce enough income for you to live on for the rest of your life. The earlier you start the less it takes, thanks to the magic of compounding.

2. Investing in your health. Yes, following a healthy lifestyle of diet and exercise can improve your Financial Planning. If you maintain a healthy lifestyle you will benefit from being able to enjoy your financial independence. You will be empowered to occupy yourself with things that you really want to do. If what you do is income producing you can continue to save for a longer time being less dependent on your capital and allowing it to grow for longer.

Once your health fails and you cannot carry on any longer you will then need to depend on your investments. The provisions you have then accumulated will be that much more and won’t need to provide for as long.

Paul Roelofse, Certified Financial Planner® presents 'Financial Fitness' on Radio 702 and Cape Talk on Weekend Breakfast with Africa Melane and Azania Mosaka on Sundays just after 08h00. Visithttp://www.investforlife.co.za/ for more.


Read More
What you must learn from the Steinhoff and EOH share price collapses

What you must learn from the Steinhoff and EOH share price collapses

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

3 JSE shares you should consider buying right now (by JM Busha Investment Group)

3 JSE shares you should consider buying right now (by JM Busha Investment Group)

The Money Show’s Bruce Whitfield interviews JM Busha Investment Group Managing Director Joseph Busha.

3 wealth creating shares to buy before yearend (by Anchor Capital)

3 wealth creating shares to buy before yearend (by Anchor Capital)

The Money Show’s Bruce Whitfield interviews Anchor Capital Fund Manager Tamzin Nel.

Are you missing out? Bitcoin (‘Zimbabwean dollar in reverse’) revisited…

Are you missing out? Bitcoin (‘Zimbabwean dollar in reverse’) revisited…

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

3 shares that’ll grow your wealth, if buy them now (by Ashburton Investments)

3 shares that’ll grow your wealth, if buy them now (by Ashburton Investments)

It’s stock pick time on The Money Show! Bruce Whitfield interviews Ashburton Investments Deputy CIO Nkareng Mpobane.

'The South African stock market is massively hedged against a weak rand'

'The South African stock market is massively hedged against a weak rand'

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

Popular articles
This tech institute forges top coding talent in SA - for free

This tech institute forges top coding talent in SA - for free

WeThinkCode funds top human talent with the potential to become the future coders of SA, despite their background or experience.

Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.

Happy 50th birthday, Pick n Pay (congrats on growing your bottom line by 18%)!

Happy 50th birthday, Pick n Pay (congrats on growing your bottom line by 18%)!

50 years ago the retailer started out when Raymond Ackerman bought three tiny stores from Click founder Jack Goldin.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Is it normal to have a curved penis? Dr Shingai explains

Is it normal to have a curved penis? Dr Shingai explains

Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.

Nkosazana Dlamini-Zuma's simply did not do her job as  AU chair - analyst

Nkosazana Dlamini-Zuma's simply did not do her job as AU chair - analyst

Analysts weigh-in with very different views on Dlamini Zuma's failures and achievements as chairperson of the African Union.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

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?