From the editor

The importance of riding out the storms by staying the course

Thami Cele

Head of Savings and Investments, Absa Everyday Banking

After two years of grappling with a global pandemic, most of us looked forward to 2022 hoping that it would be a less eventful year. We are now at the halfway point of the year, and a return to uneventful times remains a dream for many.

So far, we have had to deal with what feels like a perfect storm. The year started with Omicron, a new COVID-19 variant, spreading like wildfire. This was followed by the Russia-Ukraine conflict, which had a huge impact on food and energy prices. The resultant inflation (aka the Boogeyman) led to central banks raising interest rates multiple times and stock markets taking us on what can only be described as a rollercoaster ride.

It is enough to make anyone’s head spin. In our first-ever edition of Absa – In Your Interest, we hope to help you navigate through these unprecedented times and come out in tip-top shape financially.

We highlight just how important it is to stay the course if you want to protect and, ideally, increase your wealth by saving and investing consistently.

We interview Darron Horowitz, one of our clients and an inspiration to anyone looking to make the decisions that will give them lifelong financial security. For Darryn, saving is not just a priority; it is a way of life. Granted, not everyone has an equal start. His is a story that can easily become someone’s blueprint to a better savings and investing outcome.

The bedrock of living a life of intentional spending to save, as Darryn describes it, is budgeting so that you know what expenses you need to cover and how much that leaves you with to save and, finally, spend freely to meet your wants.

When thinking about saving, Gerald Mwandiambira, Acting CEO of the SA Savings Institute, shares his views on why you should be taking full advantage of the government’s tax-free savings and retirement annuity annual allowances by investing in the many tax-free unit trust options available to you

Kurt Benn, Head of Absa Asset Management’s Balanced Fund Franchise, offers a keen reminder of the vital role that equities play in building long-term wealth and how you can decide where to invest. Remember, even during volatile times like these, the evidence shows that investments in stocks have offered the best growth potential in the long term – as long as you ride out the understandably unnerving equity market sell-offs that happen at times.

And finally, Ally Mafunzwaini, Absa’s Head of Fraud Solutions, offers invaluable advice on how you can avoid the latest scams devised by criminals who are constantly coming up with new ways to get you to part with your hard-earned money. Read up and don’t let the fraudsters win.

Contents

Wealth architect

Smart money

Invest and engage

Let's talk

Safe keeping

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